You accepted an offer with NO EARNEST MONEY? No earnest money means the buyer has exactly ZERO skin in the game. He's now in a position to dictate terms. Hopefully you can learn from this experience:
1. Walk away from this deal. If the buyer really wants the house they'll come back and make an offer with more reasonable terms. Right now, you've put yourself in a bad negotiating position.
2. TALK to the inspector and find out EXACTLY what he saw wrong. Once you actually understand his findings, you can decide for yourself whether or not to fix those items.
3. Next time around, BE PRESENT AT THE INSPECTION.
4. Next offer REQUIRE EARNEST MONEY. And if the buyer bails for any reason not allowed in the purchase agreement, you KEEP THE MONEY!
One last suggestion: If you don't sell it before your current contract with your agent runs out, FIRE YOUR REAL ESTATE AGENT and hire someone who actually understands the business.
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Today's Featured Article - Earthmaster Project Progress Just a little update on my Earthmaster......it's back from the dead! I pulled the head, and soaked the stuck valves with mystery oil overnight, re-installed the head, and bingo, the compression returned. But alas, my carb foiled me again, it would fire a second then flood out. After numerous dead ends for a replacement carb, I went to work fixing mine.I soldered new floats on the float arm, they came from an old motorcycle carb, replaced the packing on the throttle shaft with o-rings, cut new ga
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