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Home Purchases Are Getting Canceled at a Record Rate (www.redfin.com)

submitted 23 hours ago by cm0002@lemmy.world to c/usa@midwest.social

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[–] salty_chief@lemmy.world -5 points 22 hours ago (1 children)

This is expected. When I was home shopping, almost all homes were under contract fell through (2022). Usually from various reasons home inspection failures was the leading cause. Hell even my contract was on hold due to home inspection failure. If owner doesn’t fix problem they can’t sell.

[–] glimse@lemmy.world 3 points 19 hours ago

If owner doesn’t fix problem they can’t sell.

This is incorrect. A bad inspection doesn't prevent the sale, it's to negotiate if issues are found.

I walked away from a purchase because it needed $40k in structural repairs..but the house I bought bad a few thousand in issues. Seller fixed some and I got a closing credit for others. Some stuff I just let go