Originally Posted by TJC45
I've never contracted a survey before the offer was accepted. The buyer backing out of an accepted offer would create liabilty on his part for my cost. I've never had this happen. Not even aware if it can happen.
Sorry. I guess I am confused about what you are saying is backwards.
As you state, you make an offer based on what you see then once accepted go to survey. If the survey doesn’t work out to your satisfaction and the seller won’t budge then you are free to reject the boat but will be out the survey expense. Also, if you don’t like what you see or suspect then you don’t make the offer in the first place. Do we agree that this is the norm and not “backwards?”
In the Pearson case you said that you decided not to make an offer based on your inspection and concerns. Are you saying that the problem is the perceived lack of full disclosure? If so, I would suggest that the system isn’t backwards but rather, as always, it is buyer beware.
It’s possible that the seller didn’t know anything else was wrong if in fact there was. It's also possible that he was dishonest. Different states do have recourse in the case of non-disclosure but isn’t that a separate issue from the offer/survey process?