Your Home Inspection Report: Negotiations and Beyond
You went under contract on your dream home, had your home inspection, and have received a copy of your report. What comes next?
Many people enter the home inspection process with some misconceptions. They might think that the seller has to fix everything. They may want to ask for a large credit to do the repairs themselves once they take ownership of the home. Others might be overwhelmed with the amount of “issues” found in the home and are unsure if they should proceed. We’ll take a look at all of these scenarios to help you navigate the process!
Can I ask the seller to repair or replace items or to give me a credit?
Unfortunately this is not always a yes or no question. Frequently the answer is “it depends”. There are many factors that will affect what you might ask the seller to fix or pay for. Your Realtor will be able to guide you through the negotiation process and help determine what is possible in your situation.
It seems like there is a lot “wrong” with this house. Should we still buy it?
A good home inspector will help put the defects, safety issues, and maintenance items into perspective. No house is perfect, not even new construction!
When you receive your inspection report, don’t panic. There are many issues found in almost all houses that will be included and are inexpensive or not urgent to correct. Your inspector and your Realtor can help you navigate what are “big” issues and what aren’t.
We finished negotiations and are moving forward with the home purchase. So we don’t need our inspection report anymore, right?
Not so fast! A home inspection report is valuable to you as a new homeowner, even after you sign on the dotted line and move into your home. The summary section of the report is a tool that can help you decide what projects to tackle or what items you’ll need to save up for.
A common issue we see is not budgeting for replacement of large items. If the HVAC system works fine when we’re there, but we report that it’s older and could be unreliable long-term, that’s something to take note of and save money for the eventual replacement. That can be the case for several common items such as the hot water heater and roof.
If you’re unsure and need advice or would like to know about how much you should plan to save, don’t hesitate to email or call your inspector. We can also provide you with the contact information of reputable contractors to tackle any work you need performed.