Notes on the Deal that Fell Through

This property did go pending just a few weeks after it came on the market. It did stay pending while the prospective buyer finished their inspections during the contingency period. During this time they completed the foundation report and a second property inspection.

The buyers were first time buyers, and had not purchased a home before, and were doing extensive checks around the house. In the end, they were just not comfortable purchasing a home that had some recommended repairs.

If you read through the inspection reports; you'll see most of the recommended repairs are extremely minor, and some are actually covered under warranty over existing work (like the minor roof repairs). The only real major expense would be the foundation recommendations, which are only recommendations (not necessarily required work). As mentioned in the foundation blog posting, you should adjust your offer price based on this report (around $10k of recommended work), and even request this work be completed during escrow. As a seller we're willing to work around your needs in this respect. [Update 5/14/2010: All the foundation work is scheduled to be completed the week of 5/17/2010 and paid by the seller] [Additional Update 3/15/2011: Roof repair was completed under warranty by the roofer, Daystar Roofing]

At the time of this post we've only been back on the market for less than two weeks, so you've got the opportunity again to view and purchase this home.