Quote:
Originally Posted by bagofpucks
Exact same situation happened to us while selling our house and we did not get to keep the deposit, which seemed a little silly to me, but apparently is how it goes. From what I understand, it’s pretty much impossible to prove they completed the deal in bad faith. I have also heard of a few situations where the buyer backs out after a fairly flawless home inspection. It definitely seems like the terms are more favorable for the buyer as they can take 5-10 days to make their decision and survey the market. I guess the seller can technically keep showing the property and try to get other offers in the meantime, but I’m not sure I’ve ever heard of that happening.
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I had buyers back out after a home inspection a few years ago. They basically found the most inane reasons to kill the deal in that inspection (which I rectified for approximately $100). But they got cold feet; we had lost two weeks on the market and of course had to relist and go through the process again. There's nothing you can do though...you just get stuck hoping they don't change their mind. I think in our case the conditions were to be removed at 9pm and they pulled the plug at like 8:55pm. I have no idea why you would wait until the 11th hour and drag it out, but it was frustrating.