When Should You Consider Rescinding Your Offer on a Home Purchase?

The three biggest reasons to rescind are:

  1. Roof requiring replacement or substantial repair
  2. Foundation issues with level or leaks
  3. Termite presence or scale of infestation

A home with a roof or a foundation in seriously poor condition fundamentally changes the value of the house. Each of these is an expensive fix, and unless the property is otherwise a great value, or being listed at a rock-bottom price, it’s often not worth it. These are problems that, depending on the home, might just mean it’s wise to move on and look at another property.

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