Why did the deal on your house fall through?

amother

Tangerine

Thu, Jul 05 2018, 6:49 pm

We’ve been negotiating back and forth for around two month on a house. We didn’t actually go to contract yet but already had an inspection and brought contractors down. Its a two family house with two tenants that we want to convert to a one family. Owner just changed his mind and said he’s not delivering it vacant as originally promised so we walked away and are back to square one. Why did the deal on your house fall theough?

amother

Aubergine

Thu, Jul 05 2018, 6:57 pm

One house: the sellers backed out. They weren't set up with where they were going after selling so they decided they weren't ready to sell yet.

A different house, when we gave in the offer, we had a mortgage pre-approval that wasn't high enough for that house. (we had gotten it earlier in our home hunting and our agent by mistake gave in this one.) We already had a new mortgage pre-approval from a different mortgage broker and the sellers didn't like that we changed brokers. They wanted us to get another pre-approval from a specific mortgage company of their choice, so we backed out.

amother

Khaki

Thu, Jul 05 2018, 10:48 pm

We were under contract with a house and then another agent brought a buyer that offered a little more money and the seller accepted. Bh since then we found a house for much less money than we were going to spend on the first one

amother

Ecru

Fri, Jul 06 2018, 2:59 am

We were moving to Israel and supposed to go to contract on our house the day the lift left. The buyers changed their mind.
I suspected these buyers from the beginning as the guy had cheated on his first wife 15 years before that. I told DH from the beginning that this wasn't going to work.
I guess some leapords never change their spots.

watergirl

Fri, Jul 06 2018, 3:57 am

We were warned not to invest a dime in a house that we wanted to buy without a contract for these reasons - the contract protects your money should the seller back out.

Debbig

Fri, Jul 06 2018, 5:29 am

We where not in contact yet but they had excepted our offer. When someone offered more money we lost that house. Bh that happened the house we ended up buying is in a much better neighborhood & is gaining value faster then the house that fell through.

amother

Smokey

Fri, Jul 06 2018, 7:51 am

We backed out of 2 houses after inspections. One had major termite damage and the other had a lot of other issues (mold, etc) that the owner wasn't willing to address or adjust the price.

amother

Salmon

Fri, Jul 06 2018, 8:26 am

A couple of days before closing on a condo, my parents' soon to be downstairs neighbors dropped by to remind them that they couldn't use the hall bathroom until they fixed the leak. Yes, the seller knew about it. No, they didn't disclose. So we had a plumber come, and he couldn't determine the cause, or cost, without tearing the bathroom apart to some degree. So we asked that $15,000 (or maybe it was more, I forget) be put into escrow for repairs. They were willing to give us $1000. It became pretty clear they knew it was a very major repair, and had no intention of paying for it. My parents walked away.

We also had a house fail inspection. From a roof that was literally falling apart to roots infiltrating the foundation to bad siding to termite damage to an HVAC system on its last legs to a non-conforming electrical system.

mha3484

Fri, Jul 06 2018, 8:33 am

We closed finally bh after being in contract for 6 months! But it almost fell apart the week before when the paper work for a grant we were using needed a few extra days to process and the seller threw an adult temper tantrum. He ended up blowing his own self imposed deadline to close or the deal was done. We counted that we lost 8 weeks at least due to his lack of urgency. It was so stressful I will add a second floor before I ever buy another house lol (its a ranch house).