Q: What Happens After the Inspection?
Here’s what a buyer’s options are after the inspection has been done.
As a buyer, what happens after you’ve done the home inspection?
If the property is found to be perfect, you can remove all subjects from the purchase contract, get your deposit, and voila—you’ve bought a house! In most cases, though, the inspector will find and make a list of repairs that need to be addressed, and what happens next depends on how major the repairs are in that list and what kind of market you’re in. If you’re in a hot market, you’re better off removing the subjects from the contract and moving on with the purchase. If the list of repairs includes some major issues, though, you might want to ask the seller to make those repairs or adjust the sale price. Of course, you can always accept the home as is, too.
"I always advise buyers to never let the seller fix anything in the inspection report."
We’re in an active market at the moment, so sellers may not be very motivated to make certain repairs. Regardless, I always advise buyers to never let the seller fix anything in the inspection report. In this situation, each side has expectations as to how things should be fixed, and those expectations rarely align (unless they’re very detailed). Every time the transaction takes this route, it’s a disappointment for both parties.
Instead, I recommend asking the seller to adjust their price, accept the home as is, or get a quote to address how much you’ll have to pay for the repairs.
If you’d like to know more about the home sale process or have any real estate questions at all, don’t hesitate to reach out to me. I’d love to help you.