Any legitimate real estate contract should contain an inspection clause. This is because the home inspection is an essential part of a real estate transaction. It’s the buyer's chance to get inside the house and take a look at what they are buying.
A certified home inspector should perform the inspection. Certified Inspectors are trained to look at the overall condition of your home and its related systems. While there are more specialized inspections you can perform later, it's always best to start with a general home inspection.
One of the most common complaints we hear about home inspectors is that they missed a particular thing. In most of these cases, discovering the problem would have required tearing apart something like sheetrock or flooring.
Because of these limitations, the inspector looks for telltale signs and clues that might indicate more significant problems. If this is the case in many instances, they will advise you to seek further evaluation by a specialized professional, someone like a structural engineer or Plumbing company.
Once the inspection is complete, you should receive a detailed report outlining the inspector’s findings.
It’s important to review this report with the inspector. This activity will help put things into perspective. The Inspector should explain any problems and how serious they are, and what the solutions are.
If there are severe problems outside of the inspector’s scope of expertise, they should be able to refer you to a specialist. This is often the case with issues related to the foundation of the property.
It’s important to note that the Seller’s only real duty when it comes to property condition is to disclose any problems they are aware of. In many cases, the seller is more surprised than the buyer to learn about a home inspection’s negative findings.
Additionally, the seller has no obligation to fix any problems discovered during the inspection. On the other hand, the buyer has no responsibility to proceed with the transaction if there are problems the seller is unwilling to take care of.
Any repairs you want the seller to take care of become part of the negotiations and
Negotiating After the Home Inspection can be difficult. From the seller’s standpoint, they have already negotiated the price and terms, and now the buyer is coming back and asking for more.
Suppose the market is a strong seller’s market. In that case, the home buyer will need to consider their options for finding another property before placing a laundry list of inspection items on the seller’s repair list.
Negotiating after the home inspection for home sellers can be difficult, but it’s worth the time and energy. If they can’t come to some sort of resolution with the buyers, the buyers can terminate to contract, at which point the home goes back on the market, and the sales process starts over.
Additionally, once the sellers are aware of any existing property issues, they need to disclose this new information to any new prospects. This means they will either need to fix the problem, drop their price, or wait for a buyer willing to accept the property in its current condition.