17 Aug First time seller thinking about walking away. Help me not lose my mind!
We listed at $439k which was supported by comps, knowing that with it being an older house we’d have to negotiate a bit. (I don’t think the house’s age is a disadvantage, all single family homes in this desirable area were built around the same time.)
Got an offer effectively $20k under list. After several rounds of negotiation we ended up at $10k under list. We were fine with this.
Now the buyers have gone through inspection and submitted what I consider to be a ridiculous 2-page list of items to address. One of which is bringing the insulation up to “standard”, whatever that means. On top of that they requested over $5k towards a brand new patio because the current patio has settled and there is a crack. IMO this could be resolved for 80% less by leveling the concrete and sealing the crack.
My husband and I are trying to figure out at what point we should walk away and not feel bad. I cannot believe someone would buy a 50-60 year old home and expect it to be in perfect/new condition. Our house is partially renovated and the fully renovated homes in our neighborhood sell for $100k+ more. And I’m sure those homes had inspection issues too.
We told our agent she has up to $X total to work with as a price reduction or closing cost concession and please negotiate on our behalf up to that limit. Beyond that, we would consider walking. We’d rather give $ than perform work.
Has anyone ever walked away from a deal during the inspection period, as a seller? Did you regret? What was your experience?