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Home inspections and renegotiations

On Behalf of | May 26, 2021 | Real Estate Transactions |

Whether you are buying your first home or your last, the process involves enough moving parts to make things exciting and a little frightening. Home inspections remain an essential element of closing the deal.

This step in the home-buying process presents both warnings and opportunities.

The possibility of renegotiating

Homelight stresses the importance of knowing that a house inspection is not a pass or fail test. Depending upon what the inspector finds, you can decide not to buy the house, buy the house as long as the seller fixes certain items or use the chance to renegotiate the sales price.

As the buyer, you can request that the seller take care of any serious deficiencies in the home, especially in the areas of health and safety. You can also agree to fix the problems yourself. This has the advantage of allowing you to pick a trusted contractor. In this case, you should request a credit or reduced price on the sale of the home.

If you love the home and others are waiting in line to make an offer, you renegotiate with the possibility of losing the entire deal.  Buying a home often comes with a series of difficult decisions.

The importance of a checklist

Forbes highlights how a home inspection checklist helps you decide on the merits of a prospective home. The essential elements of a checklist include the following items:

  • Make sure your contract requires a home inspection
  • Select a trusted home inspector
  • Read the inspection report thoroughly
  • Decide on your next actions
  • Confirm repairs

If the results from the home inspection satisfy you, it is time to move on to closing. The home inspection process should help you feel confident about your purchase.