A home inspection can affect the actual sale and price of a home so you want to make sure you get a qualified home inspection company to do the job for you.
If you have purchased more than one home in your life you have probably learned it is a smart idea to hire a home inspection company. A qualified home inspector combs a property’s visible and accessible areas to identify any health and safety problems, positive or negative conditions of the property and any conditions that need further specialized attention. An inspection includes structural elements such as the roof, foundation, walls, windows, doors, insulation, basement or crawlspace and attic. Electrical, plumbing, heating and cooling systems are also part of a home inspection. It can even include examination of appliances and should also report any evidence of termites.
A home inspection can affect the price a buyer eventually pays for a property. Sometimes sellers will build the repairs into their price or tell you that the home is priced for an “as-is” sale. They will be upfront and say “we know the home will need a new roof and our price reflects that.” If you think the price is fair for the condition of the home and agreed that the repairs are included in the original negotiation, then your inspection simply will confirm those issues and you can move forward. If there are new or unknown issues that the inspection surfaces, you will want to negotiate on those items.
Can I cancel an offer after a bad inspection? It’s very disappointing to find out that what you thought was your dream house is actually a potential nightmare. However, fortunately, this is the whole point of the home inspection. Most of the time, the purchase contract will allow you an “out” if, after completing your home inspection, you decide the house just isn’t right for you. However and there is always a chance, If you are past the inspection deadline, though, it is possible that your earnest money may not be refundable.
Who pays for repairs after a home inspection? We have found this answer on Angie List, to be pretty solid it really depends on how severe the repairs are and what type of agreement the seller and buyer can negotiate. Some repairs are negotiable with the seller, and others you'll need to take care of as the eventual homeowner. The bottom line is, if you want the seller to pay for a repair — or provide the equivalent in cash — you need to get that agreement in writing. Carefully read through the home inspection report and determine the biggest issues. You can ask for repairs to be made by the seller or for the price to be reduced. If there are extensive problems, it may be better just to walk away from the house all together.
What happens if the seller refuses to make repairs? Really you have 2 choices at this point try and negotiate further or rescind your offer and move on to another property. It may not be worth your money to move forward if the property is just going to become a money pit. This is really a common issue and depends on your ability to stick with the deal.
In Minneapolis and St Paul Mn contact Inspections Plus Guru. Professional reliable home inspectors that can give you piece of mind.
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