House Disappointment
When we woke up Thursday morning, the appraisal on our house was scheduled to happen that afternoon. Before lunch, Michael called me at work and said that the buyers had rescinded their offer. When we bought this house, there was foundation work that had to be done at the seller's expense. It was damaged by waterborne fungus. The workers removed all the water-saturated insulation from in between the floor joists; they installed a drying fan; and they repaired (or replaced) rotten joists and put some supports in. End of story, so we thought. On inspection for this sale, they found standing water and more damage under the house. When the buyers set up the appointment Thursday morning to come back with the foundation specialist, we thought they might ask us to pay for repairs, installation of a sump pump, etc. We never dreamed they would withdraw their offer, but they did. They are first-time home buyers and the damage scared them. Needless to say, Thursday was a depressing day. I ha...