|What To Do If A Home Inspection Reveals Problems|
|Home Buying 101|
No home inspection is completed with the purpose of offering a passing or failing grade on the home. It is also not completed with the purpose of assigning a value to the home. The job of the home inspector is to examine the home in order to spot problems, or potential problems. Though there is always the chance that no problems will be revealed, what actions should a buyer take should they exist?
The answer to this question may lie in how severe the home inspection issues that are revealed are. For minor problems, you may choose to accept responsibility for the repairs, request a lower price on the home, or request that the seller make the repairs. Should the price of the home already be below market value, the seller may not be willing to negotiate any discount, or offer to pay for repairs. Should this be the case, it will be entirely up to you to decide how to proceed.
Should the home inspection issues be severe, the same solutions should be considered, with the additional option being to back out of the purchase. In some cases, the seller will already be aware that such problems exist. Other times, the seller is completely unaware of any existing issues. Though you may help facilitate a solution, ultimately, it will be up to the seller to decide what he is she is willing to do.
Your personal desire to own the home may play a role. The act of selecting the perfect home brings with is many emotions. This can often cause judgement to become clouded, and could cause a poor decision to be made. In order to avoid this, do allow yourself some time to think about a solution in a logical manner. Walking away immediately may not be the answer, nor may agreeing to take responsibility for a host of existing problems. Think things through in order to make the best decision.
First time home buyers should note that it is not at all uncommon for homes to have minor problems. When a home inspection reveals such problems, there is no need to panic. In most cases, an agreement that is acceptable to both the buyer and seller can be reached. The information that is provided to you by your home inspector is completely unbiased. Sellers do realize this, and are often willing to cooperate when existing problems are noted.
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|Last Updated on Sunday, 11 August 2013 13:38|