Buyer not closing on firm deal

[doomsmith]

We recently sold our home. First person through made an offer at full asking 2 hours after being listed conditional upon financing and home inspection. We received another offer shortly after, also full asking but no conditions. Because we're softies, we have the first guy the chance to firm up and didn't sign back the second. He had his home inspection, and an appraisal and then firmed up and waived conditions. He requests his final walk through, and suddenly says he "smells mold in the basement and is having an allergic reaction." We as the sellers can detect 0 odour. There's never been a mold or dampness issue in the basement. No history of water penetration. He notices discoloration and watermarks on the baseboards (present at home inspection - not new) and demands a "mold inspection". We say no, we had had an incident with a bar fridge in the basement that was unplugged accidentally - there was food in it that spoiled. We cleaned it up but it may have caused watermarks on the trim. We will replace the trim. His lawyer sends a letter saying he wants the inspection or he won't close. We figure, screw it - we have nothing to hide. Go for it. He sends a guy with 2 years experience and next to no accreditations to take an air test. He doesn't do it under controlled conditions and has no knowledge of the incident with spoiled food. Sure enough test comes back extremely high spore count of penicillium (food borne mold). We get our own inspection to counter his that shows no visible signs of mold, no excess moisture and slightly above average air test. Buyer is still refusing to close. We got a quote for the remediation costs (minimal as there's no visible mold or water penetration) and are offering an abatement double the amount of the quote. He's requesting a mutual release and not proceeding to close. Should we hold him to this sale? If we relist the market has softened, and our house is vacant so it's not likely to get the same asking price. Plus we're now carrying two homes and the costs are mounting. What should we do?

[Edge]

Did he pay a deposit?

[just hanging]

31 minutes ago, doomsmith said:

We recently sold our home. First person through made an offer at full asking 2 hours after being listed conditional upon financing and home inspection. We received another offer shortly after, also full asking but no conditions. Because we're softies, we have the first guy the chance to firm up and didn't sign back the second. He had his home inspection, and an appraisal and then firmed up and waived conditions. He requests his final walk through, and suddenly says he "smells mold in the basement and is having an allergic reaction." We as the sellers can detect 0 odour. There's never been a mold or dampness issue in the basement. No history of water penetration. He notices discoloration and watermarks on the baseboards (present at home inspection - not new) and demands a "mold inspection". We say no, we had had an incident with a bar fridge in the basement that was unplugged accidentally - there was food in it that spoiled. We cleaned it up but it may have caused watermarks on the trim. We will replace the trim. His lawyer sends a letter saying he wants the inspection or he won't close. We figure, screw it - we have nothing to hide. Go for it. He sends a guy with 2 years experience and next to no accreditations to take an air test. He doesn't do it under controlled conditions and has no knowledge of the incident with spoiled food. Sure enough test comes back extremely high spore count of penicillium (food borne mold). We get our own inspection to counter his that shows no visible signs of mold, no excess moisture and slightly above average air test. Buyer is still refusing to close. We got a quote for the remediation costs (minimal as there's no visible mold or water penetration) and are offering an abatement double the amount of the quote. He's requesting a mutual release and not proceeding to close. Should we hold him to this sale? If we relist the market has softened, and our house is vacant so it's not likely to get the same asking price. Plus we're now carrying two homes and the costs are mounting. What should we do?

not sure here, but you always get a backup in the states, give the original guy so much to perform.  the first guy is negotiating, dump him.  chances are second guy still around, or if not, and you got two offers right away a third should be coming

[LOTTELLEE WINNA]

Sorry if I have missed the crucial info...what country are we talking about?

[Geordie59]

My thoughts exactly. Not too many basements in Thailand.

[Insomniac]

3 hours ago, Geordie59 said:

My thoughts exactly. Not too many basements in Thailand.

Have had 37+ years in Thailand and am experienced Building Surveyor. Have never come across one, but if they have one would also advise not to purchase.

[davidge]