We received and offer within two days of our house being on the market. The offer was a "contingent" offer on them selling and closing on their house first. We accepted the offer.

They did the inspection some time this week. I received a phone call from our relator stating they were terminating the offer because of the inspection report. They are unwilling to share the inspection report with us, although they did actually offer to sell us the inspection report for $250 (eye roll) which I promptly told them to shove it. We offered to negotiate any repairs or even pay closing cost or come down a little on the price to make up the difference.

What's the next step that we should take? Should we get our own inspection of the house for future buyer's to nip this in the bud in the future?

mazag08 said:

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Some people are just tough to deal with. I would file this one under "they were never likely to close" and move on.

The things most likely to show up in an inspection that would spook someone are foundation issues (but they would definitely want to get a foundation inspection before terminating), old appliances and HVAC that the inspector scared them into believing would blow up on them within year 1, potential drainage/flooding issues, old roof that they would likely have to replace relatively soon, and a bunch of gibberish about out dated fire safety and old wiring.

The thing is, anyone who is serious enough to offer on your home should be serious enough to ask you questions or at least request concessions to the original offer to offset any potential issues. If they weren't even willing to negotiate before pulling out, and were a contingency to start with, then you were likely their place holder while waiting for something better.

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Thanks for the reply. I figured it was either they found a better home that suits them better or that there was an issue with the home they are selling. Our house isn't perfect by any means and the inspector found POSSIBLE issues with breaker box and roofing. They weren't willing to even negotiate on repairs or anything. Just terminated the offer after I told our realtor HELL NO on paying them to see their inspection report.

dallasiteinsa02 said:

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Just move on. It could be anything. I have even seen buyers bail because they didnt find anything major to hit the sellers with during the option.

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Yeah, this is one data point. If you have this happen a second or third time, then it's you. But for now, it is probably just a flaky buyer.

I'm assuming since they didn't disclose whatever it was they claim to have found in the report, there's nothing that can be used against him later?

LostInLA07 said:

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You don't want the inspection report because you don't want to have to disclose the findings.

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While that may be true, many buyers will be suspicious about the seller losing a buyer and having no reason/inspection.

LostInLA07 said:

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You don't want the inspection report because you don't want to have to disclose the findings.

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Yep. Chances are that they just got cold feet vs. the inspection being an issue, but it's a face-saving move for them to pretend it was the inspection (and then shake you down for what what is essentially a partial refund of their inspection/option fee). You don't want it.

We had that happen when we sold our last house 7 years ago. The buyers were relocating from Atlanta (but not under a time crunch), and when they saw our house, it was on their first trip to the area which was apparently intended to be more of a prelim scouting mission vs. a trip that would result in making an offer on something. However, they loved the house and made an offer. But during the option period over the next week, it started to smell like buyer's remorse and cold feet were starting to set in, like maybe they feel like they rushed into it. There were a few silly asks coming out of the inspection that I initially rejected, and they immediately bailed vs. trying to negotiate. We'd actually received a 2nd offer that signed a backup in the meantime (for slighly more $$$), so I was dealing from a position of strength and fine with them walking.

OP do you know if the buyers were first timers? If so inspection reports can look pretty scary. It is up to their realtor to explain how inspectors work. As said move on.

We haven't sold a home since 2009 so pardon my ignorance as I don't recall what we did then - do you recommend getting your own inspection before putting a home up for sale? It sounds like the answer is no so that you don't have to disclose anything negative.

We'd considered doing it so that we could fix things in advance to prevent a buyer getting cold feet, but it sounds like you think it's better to let them find problems.

Thanks

Someone tried this crap with us about 25 years ago. I withheld earnest money until they showed report. They wouldn't, but it Turns out their daddy did the inspection. Once that was known I kept earnest money and gave them a lawyers phone number. They found something else and didn't want to uphold their contractual obligation.

I'll let the realtors give a final answer but it is two edge sword. Yes you get a heads up and can make the repairs you know will have to be done. And you can give to prospective buyers up front.

The buyer should get their own inspection regardless and that could lead to more issues. Your call

I wouldn't recommend getting an inspection before listing unless you are still tied to the disclosure on your purchase of the home. If a bunch of stuff came up on your purchase that you fixed, you might consider getting an inspection to show that you fixed those items or provide invoices showing you fixed them since you will have to disclose that inspection. Any buyer is going to do their own inspection regardless.

Don't sweat it. Realtors "play nice" with each other by not sending the report. If you get their report (or pay for your own inspection) you are required by law to disclose the report. That can be good or bad.

When people call me for a listing inspection I generally talk them out of it in this sellers market. If you don't have a good feel for your house's condition I recommend having the roof checked, the foundation checked and the HVAC serviced. Minimal expense and hits the biggest ticket areas.

I have often seen people walk "because of the inspection" multiple times and, as the inspector to myself, said wtf that's a really nice house, really clean inspection. The reality is they wanted to walk for a different reason and felt they needed an excuse. During the option period they don't need one.

Consider a higher option fee to attract more serious buyer?

Doesn't really help. When you are looking at selling and want/need it to just be done, do you really care if the fee is 150 or 1500? Even if the market would allow it ,in the end the seller is still left in a lurch and lost a couple weeks. The system is very buyer focused.

We recently sold our house. Our first buyer opted out in the last day of their option. The biggest thing they asked for in the offer was a 14 day option. We were firm on 7. Turns out they wanted the time because of a business deal that was the reason for their move. That deal fell through and they backed out. According to their agent, they never even discussed the inspection report.

The good news is that when you find the right buyer, they will want to buy as much as you want to sell.