A home inspection is an essential part of the home buying process. Buying a new home is an exciting thing, but you should be aware that many things can go wrong during the home buying process as a buyer. One of the most likely reasons for a sale to fall through is the home inspection that discovers too big repairs to go unaddressed. However, it is scary for the seller as no one wants to find out any major issues with their house.
A home inspection is nerve-wracking for everyone, especially for the seller. It is better to hire a home inspector and have an inspection of your own home before you put it on the market if you want to know what an inspector might find. Some repairs are necessary to proceed with the sale, such as mold growth or water damage. Here is how to tell what fixes are mandatory and who is responsible for paying for the professional home inspection services, and how a home inspector can help you.
What Is A Home Inspection?
During the process of closing on a home, a buyer hires a home inspector to look for the property and determine whether it is safe and what repairs must be made to the house. However, the mortgage lender requires a home inspection before the closing. A home inspector looks for the things that are unsafe, deficient, broken, or in need of repairs. However, the inspector will not look for anything that is considered cosmetic such as wear and tear.
A usual home inspection will take a few hours. The inspector will look for the home’s exterior and interior and then write a report that takes a few days to come back to you. You will be able to determine which repairs are needed to negotiate with the seller. Here is what a home inspector looks for:
- Water damage
- The old or damaged roof
- Structural problems
- Plumbing issues
- Electrical problems
- Pest and insect infestations
What Fixes Are Mandatory After A House Inspection?
If we are legally speaking, there are no “mandatory” repairs. You cannot force the seller to fix anything that comes up on the inspection report. Inspection reports can turn up all kinds of issues, including mold, roof damage, chemical contamination, etc. Some repairs are necessary to make a home to live in while others fall in the “nice to have” category. However, those repairs may not need to fix before the buyers move in. The buyers should ask the seller to fix the problems that address significant structural risks to the property or address health hazards. These repairs include:
- Water damage repair
- Mold growth
- Fire or electrical hazards
- Chemical or toxic hazards
- Building code violations
- Major structural hazards
There is a difference between the repairs that a buyer asks and those that an insurance company or a lender requests to underwrite a homeowner’s policy or a mortgage. You may be denied insurance or financing if the bank is not satisfied with the professional home inspection results. In that case, specific fixes may become “mandatory” for the buyer to get the loan or close on the home.
What to Do If the Seller Will Not Fix the Issues?
If the seller will not fix the home’s issues, the most significant thing a buyer can do is to walk away from the deal. However, it is not always easy, especially if you find that home to be your dream house. But, if you cannot come to any agreement to make the property habitable and safe at a suitable price, you should consider leaving the deal and move on.
If you are a home buyer, you can make your offer contingent on the result of the home inspection services. It will provide you with more leverage to work out the fixes with the seller, or you can walk away from the deal if needed. Moreover, you can negotiate to lower the purchasing price to account for the cost of the repair. In this way, the seller does not have to manage the fixes but still absorbs some repair costs.
Who Is Responsible to Pay for Repair After Home Inspection Services?
Beyond what ends up being regarded as necessary for the homeowner to fix, no law requires them to pay for the repairs. However, it depends on the contract you have negotiated and also on the state you live in. A buyer can ask to drop the house’s purchasing price to cover the cost of any agreed-upon fixes. Besides, a buyer can ask the homeowner to pay for the repairs and take care of them before the closing.
All repairs are negotiated between the buyer and the seller. It means that the seller is not obligated to pay for the repairs. Once the issues are negotiated, make sure to get everything in writing to avoid any issues at the end of the day.
The bottom line is that there is no hard and fast rule on who is responsible for paying for the repairs after home inspection services. So, you should be very clear about this with your offer. Moreover, you should work with the attorney and your real estate agent to figure out the best option to suit your home buying needs.
Reasonable Requests After A Home Inspection
After the home inspection is complete, you might confuse what to expect the homeowner to fix. Your real estate agent can help you determine the significant issues that a seller will try to ignore. You need to make sure that the seller is fixing those issues. Your real estate agent can help you with that. Here is what you can ask the buyer to fix after the home inspection.
- Plumbing issues
- Heating Repairs
- Broken appliances
- Drainage system
- Broken or old roofs
- Major structural damage
- Electrical issues
Make sure your real estate agent keeps up with the seller to repair these major fixes. However, if the seller does not provide you with these fixes, be prepared to walk away from that house.
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