Our purchase agreement was unfortunately cancelled last weekend. After this whole house wrap situation came up, we could not come to an agreement with the current owners regarding the price of the house. In a counter-offer, we asked the current owners to cover the cost of the replacing the siding, putting up Tyvek or some sort of house wrap, and taking care of any water damage that may have occurred. Kyle and I were willing to increase our purchase price to reflect an upgrade in siding. The house currently has steel siding, and we were planning to put cement board siding on the house. The current owners were willing to either sell us the house, as is, for $10,000 less than the initially agreed upon price or would cover the cost of all of the repairs for $15,000 more than the initially agreed upon price. Kyle and I did not feel like it was our financial responsibility to pay for a repair that was assumed to be unnecessary when we wrote up the initial offer.
We both feel a sense of loss, as this house really seemed to meet a lot of our wants on our wish list. We do however have peace about the situation as well. Something will eventually come up. For the time being, we still love our current house.
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