We walked from several houses after inspection. A few had serious deficiencies we were not willing to deal with. On others we couldn't agree with the vendors on what would be fixed, or how much the price would be adjusted. It's your call. You make an offer based on your inspection results....and they can accept or reject it. On the house we eventually bought, or agent told us that the two agents allegedly reduced their commissions to bridge what we were willing to pay to what the vendor was willing to accept.
Even the standard contract can be modified in a variety of ways. For this reason, anyone offering advice, whether professional or otherwise, should be absolutely ignored unless and until they've actually read the contract. As an aside, it's okay to post questions on internet forums regarding your sex life, where to get the best taco, how to get a cheap airfare, etc. But when it comes to medical and legal advice, maybe you should consider dropping a few dollars on someone who actually knows what he's talking about. In the long run you may wish you had.
thats correct - it was the option period money. buying a house is confusing - its hard to keep all that terminology straight! the earnest money i did get back.
No earnest money. The bubble has burst and its a buyers market up here in the NY area. I'm only out $200 if I walk - if I retain the lawyer for my next home purchase, he'll float my fees to the next purchase.
