Expert: Dick Dennis - 8/13/2009

Question
The buyer just went through my home with a home inspector. This buyer is a first time home buyer. At the end they called their real estate lender and said not to go through with the deal. So there real estate agent text messaged mine and stated deal is dead, so my agent called the inspector and his words were " I don't know what the problem is because they had no concern when he was there and I only found I thing that must be done which is not going to cost that much to fix" The problem the inspector is talking about is that the hot water heater must be moved closer to the exhaust area. If I fix the problem is this contract still binding and can they still get out or are they forced to buy if we go to court? help me out please..

Answer
Technically, Greg, the buyer could back out if the inspector found anything wrong. You have to realize that buyers are a jittery lot. They always look for an excuse for backing out of deals. Us Realtors are constantly fighting this problem with first-time buyers. However, let your Realtor know that you are willing to remedy the problem that the buyer has with the house. Then if he doesn't want to buy, you might want to take him to court. But then you might miss out on another buyer. The cost of fighting this might be more than you are willing to pay. You may be wasting some valuable time. I recommend you talk with your Realtor and get his prognosis for this. I do wish you well.

Dick Dennis