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What Happens If A Problem Shows Up On A Home Inspection?

May 4, 2022

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What Happens If A Problem Shows Up On A Home Inspection?

When you're looking to buy a home, one of the most exciting days is when your offer is accepted. But one of the most frustrating and disappointing days can be when you get back the report from your home inspector a few weeks later.

So, what can you do if a problem shows up on a home inspection?

WHAT IS A HOME INSPECTION? 

During a home inspection, a trained professional inspector will go through the home you're looking to buy to make sure it's structurally sound and the systems are functioning properly.

A thorough home inspection will examine the condition of the roof, ensure the plumbing, electrical, and HVAC are functioning, and make sure systems are installed safely as required by building codes.

An inspector will also check for things like termites and pests. They will inspect the foundation for cracks or evidence of sinking, along with mold or conditions that could make the home susceptible to pests.

DO I NEED A HOME INSPECTION? 

Sometimes a buyer will be so enamored with a home that they don't want to worry about a home inspection. They love the house and want it no matter what. However, no matter how much you love a house, it's always a good idea to find out about any potential issues that could wind up costing you money!

WHAT OPTIONS YOU HAVE IF A PROBLEM SHOWS UP

Most homes you look to buy will need some sort of repairs. Some repairs might be minor, like replacing a broken appliance or fixing a toilet that runs constantly. Others, though, can be major, like replacing the roof, repairing foundation issues, or needing radon mitigation. 

If a problem shows up on an inspection, you have some options:

  •  Ask the seller to make the repairs before the sale closes. Most sellers will be willing - and expecting - to take care of minor repairs before a sale and are often in the middle of doing so during the selling process.
  •  Adjust the contract price. If the problem is something major, such as needing a new roof, you might want to see if your seller is open to reducing the price of the home to offset the expenses you'll have to pay to fix, replace, or repair the problem.
  •  Accept the condition. In today's competitive market and tighter housing inventory, as a buyer, you might decide to accept even major issues with a home if it means you can make the purchase. Or, if you're specifically looking for a "fixer-upper," you might accept some problems knowing you can fix them in the way you want to.
  • Walk away from the deal. This is a drastic step and doesn't come without costs. You'll want to be sure that the problems the inspection has identified are truly non-negotiable before you walk away from a deal.

WHAT WILL LIKELY HAPPEN

The most common scenario that plays out when a problem appears on a home inspection is that repairs are negotiated. The seller might agree to several small, inexpensive repairs, but leave more significant work to you, the buyer. Or, they might agree to address a major issue if you agree to take care of the minor problems that are simple inconveniences.

Negotiation on repairs often comes down to priorities and costs. You and the seller will need to decide what you can afford to repair. You'll also have to determine what repairs are critical to making the home safe and habitable versus those that can be delayed until you get settled.

Once an agreement has been reached, any repairs the seller agrees to make will be included as conditions of the contract, and your final walk-through will confirm that the work has, in fact, been completed.

If all this seems like a lot, your best bet is to leave the negotiating to your real estate agent. Negotiating repairs to be made prior to a sale are a typical part of an agent's job.

Buying and selling a home can be a stressful and emotional experience. Having your agent negotiate on your behalf helps ensure you get the best deal possible, keeps the transaction progressing, and helps reduce your stress over the situation.

Our real estate agents at Orizon Real Estate can help you get started. Your Orizon agent will assist you through the home buying process, including the negotiation of repairs. Let us help you make the homebuying process smooth. Call today at 260-248-8961 to speak with an agen