Home is falling apart months after purchase

Yes I signed the P&S waiving appraisal and inspection contingencies, keeping finance contingency. it significantly reduced my leverage to have seller fix anything, & completely removed my ability to exit the contract based on the inspection findings. I believe that even if you forfeit your earnest in wanting to exit, the seller could sue if they’re feeling litigious, for breach of contract. This is my understanding. Now, if there were multiple offers, the seller may just keep the money and move on to the next offer, but I think they’d have to update disclosures so could be worth them trying to keep the deal going.

The unit I’m buying is the 2nd for the seller, I was third best offer for first unit. First unit, first buyer backed out due to inspection finding and stupid high quote from plumber. Seller moved to 2nd offer, but is updating that plumbing issue (first buyer was quoted 1.5x higher than actual cost) so the seller decided it’s worth it to update and sell the unit rather than run in to the same issue.

/r/RealEstate Thread Parent