When Should You Rescind Your Offer on a Home Purchase?
When Should You Consider Rescinding Your Offer on a Home Purchase?
The three biggest reasons to rescind are:
- Roof requiring replacement or substantial repair
- Foundation issues with level or leaks
- 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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