The building has amenities - pool, 2 gyms, front desk etc. 3 blocks from metro.

The building has amenities - pool, 2 gyms, front desk etc. 3 blocks from metro.Closing Costs: $4k out of pocket (less seller subsidy)Loan: $318k purchase price with 3% down for 309k loan amount.

I can’t even imagine boilers, cast iron pipes, plaster and lathe, asphalt shingles, wood damage, etc. 

So, as the buyer you have a loss of the appraisal fee plus liquidated damages for the lost opportunity to buy the house (you have to go through the time and expense to find another).

The property I offered on needed a new roof and had some water damage so the seller was only accepting highest and best all-cash offers.

We’ve tried to tell them that we don’t really want damage their credit but they are leaving us no choice.

It is not new damage that suddenly occurred.

Get those inspections done quickly...and you're probably only backing out if it is something catastrophic....like a roof that the seller has no interest replacing....or extensive mold or extensive termite damage...or something like that.   

MPLS (just one block off Lake and Lyndale, if you know Minneapolis).

If items are not cleaned or damaged, someone needs to photograph and calculate costs for security deposit deductions.