Anyone who has recently played the game of Selling a Home/Buying a Home knows the game rules are much changed. About eight or ten years ago, thanks to banks’ wariness over the subprime lending debacle, house values plummeted. Good for buyers; not that much for sellers.
Back then, it took us 15 months to get a buyer for our home, after several gut-wrenching price reductions. We immediately found the perfect house at the perfect price and it all seemed to be working out wonderfully. Until we got the inspection results and discovered the reason the house was perfectly priced was that it needed a new septic system. We also discovered that engineering fees and septic installation costs had risen by several orders of magnitude, requiring an outlay of $30,000 shared between us and the seller. Neither of us was happy about that, but it was still a good deal.