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Real Estate
Reply to "How often do contracts on houses fall through?"
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[quote=Anonymous]Actually, the inspection contingency in a contract means that the buyer *can* get out of the purchase. Last year, we made an offer on a house, and had the inspection within a few days of the offer being accepted. The house was a disaster - termites, suspected mold, exposed asbestos, weak floorboards, significant water issues that hadn't been addressed, foundation cracks, etc. We got out of the deal. I had intended to buy the house - and had already sold my house and had a firm moveout date- but the price was very high (there was another bidder) and I didn't want to be left holding the bag for many tens of thousands in repairs that I couldn't afford. The other bidder bought the house.[/quote]
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