Reply to If I had an a offer accepted without an inspection contingency

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Let me understand - 
You put an offer on a house without an contingencies.
Your offer was accepted.
Now you are having cold feet 
You think the offer you made (that was accepted) was materially above market value
You are concerned there are maintenance issues that you can not afford
You want to walk away from the transaction and just lose you EMD?
[/quote]

Essentially except: I can afford them but if there are big ticket things and I already overpaid it will not be worth the money on this house which by the way also requires renovation of 2.5 baths and a kitchen, plus landscaping of a 0.4 lot.[/quote]

You probably won’t know the expensive things.

We had an inspection and our realtor (not inspector) told us to have a sewer scan, we did and low and behold we had to redo part of our sewer line and got some of that $ (because we had an inspection years ago).  The inspector didn’t catch it!  We also had to move our electrical box because it was by the water heater (?!) and then realized we had to ground the electrical and do a bit more work.  The inspector told us to move the box, but didn’t catch the electrical issues because you wouldn’t know until you went in there.  The inspector said our gutters were fine… first rainstorm too much water and they clearly were messed up so we had to get all new gutters.

Owning a house it is always going to be something.  People I know bought brand new and their basement flooded within like the first few months of owning!  Another friend bought without an inspection and the entire second level had no electricity.

You never know what would happen with a house.  It’s always something, seriously, it’s always something.  [/quote]

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