"Bruce" > wrote in message
...
> On Sat, 15 Jul 2017 12:21:27 -0400, jmcquown >
> wrote:
>
>>On 7/15/2017 11:54 AM, wrote:
>
>>> How many houses have you bought? Once you have signed an offer to buy
>>> there are only very specific things which allow you to back out
>>> without penalty.
>>
>>Maybe in Canada. In the US, until the actual "closing", anyone can back
>>out.
>
> Without penalty, really? What's the meaning of the sale contract they
> signed then?
They can come up with a reason. Reason people kept backing out on this house
was the siding. Or so they claimed. This kind of siding had a recall. We
were told that ours was fine and the recall didn't apply. But after buying
the house, I think the real reason was that it is flat out not up to code
and getting it up to code would cost a fortune. We had a guy who said he
would do it for $2,000 so we hired him only to have him walk away saying
that he'd been wrong and couldn't do the job for any price. We based what we
paid for the house on that. Now we are stuck with a house that likely will
never be up to code.