When buying and selling homes, the property purchase is often subject to a satisfactory home inspection being done. Now and then, a home inspection uncovers severe structural problems. Heres an example of a situation in an upscale neighborhood.
Severe Structural Problems
Does the buyer walk away when there are serious structural problems? Yes, but not always. A lot depends on the constraints facing the buyer (are they relocating to start a new job, or just moving up in the same general area?) and on how much the buyer likes the property. The attitude, maturity level, communication skills, and flexibility of both buyer and seller also make a huge difference.
Its easy to see a deal blowing up in this situation. Let me tell you about a situation I saw that actually worked out.
Structural Problems Upscale Neighborhood
The first involved two professional couples and a house one couple wanted to sell and the other wanted to buy in an established, up-scale neighborhood. The house was a colonial style, all brick, very traditional house built about 15 years ago using top of the line materials. The kitchen and bathrooms had been modernized and upgraded...
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