Part of owning assets is managing risk, and seller's can't afford to warranty performance on an asset that has another 15+ year term remaining.However, I do believe seller's should be honest with their sales and let buyers know up front if there are known issues or defects with the loan.- Josh

Usually, the property has some inherent and perhaps not too obvious defect that accounts for the lower rent, the owner is burnt out because the property is in a “war zone” and if renovation would be profitable to owner would have done it.4.

Rob - I'm not trying to be rude, but it isnt the city's responsibility to identify where your leak is occurring (assuming the leak is after the meter and the meter isn't defective).

The sad truth is most sellers conceal at least some of the defects that they are aware of.

Also, they say that it happened due to manufacturing defect or wear and tear(which is just assumed) so they will not cover it.

Defects in home deliberately hidden and cost 5K not budgeted for4.

In fact I provided him a paid-for inspection report that detailed a bunch of defects and not-up-to-code issues. 

When you cancel, they then have a house that will be considered defective rather than hot in many minds, just because of your contract.The seller can not 'make' you sign anything. 

The purpose of the walk through is for you and the tenant to have an understanding as to existing defects you may later deduct for upon move-out.

Somebody wanting to sue for you backing out of a bad deal or accusing you of selling them a property with defects like unknown termite damage).