About a week ago, I accepted an offer for my house. I then had my offer accepted on the house I hoped to buy. My buyer scheduled a home inspection Saturday. Tonight, my real estate agent called me and said the buyer is backing out of the offer. She said the only thing the other real estate agent said was there was a sewer blockage and electrical issues.
I had disclosed we had tree roots in the sewer line two years ago. I suspect that is what it is again. Having had that issue before, I know that is a relatively inexpensive fix. As for for the electrical issues, I’m at a bit of a loss. We’ve never had electrical issues.
Now, I feel confused and frustrated. My real estate agent said the buyer doesn’t technically have to tell me what was wrong with the inspection. Is this a example of a buyer getting cold feet and using this as a excuse to back out of the offer? How common is it for the buyer to disclose what was wrong with the inspection?
Any advice would be helpful. Thanks.