Buyer finally snaps up a home, but blocked crawlspace creates dilemma
Q: We finally beat out another buyer for a home. And now we want out of the sale. Apparently, there is a section of the crawlspace that cannot be accessed by the inspectors. We had lots of interaction with the seller’s agent, who never pointed this issue out to us. Our buyer’s agent did not bring to our attention this important fact. Presently, both agents are basically asking, “Didn’t you read the reports before you made the offer?” Well, the seller’s reports, inspections, questionnaires and our purchase were grouped together in the e-signature email. Essentially, all of the communication with our buyer’s agent was about our purchase offer. Very little information was exchanged about the reports or inspections. Now the agents are telling us we will lose our deposit if we cancel. Their assertion is we made an offer with no contingencies in place. Because our offer did not have contingencies for inspections, they claim that is why we “got the house.” We cannot help but feel we had the wool pulled over our eyes. What is the best course of action in a situation such as ours?
A: Visit a real estate attorney. Not lawyer friends who practice in other areas of law. Real estate attorneys represent buyers, sellers and inspectors. Due to that fact, real estate attorneys can quickly determine the best course of action when seeking a rescission of an active sale. They have experience representing agents, too. The agents will be pulled (dragged) into most cases. Lest we forget, all these cases could have been avoided in several ways. The listing agent and buyer’s agent could have pointed out the crawlspace issue in the inspections. More importantly, the sellers could have opted to have a termite company or foundation firm dig a pathway into the restricted area. This common crawlspace correction would have allowed for full inspections once and for all. Buyers do not like surprises. I don’t say “location, location, location.” I say “disclose, inspect and communicate.” Only then can a sale be ratified correctly and safely with inspection contingencies in play.