Crisis Averted: How To Avoid Inspection Report Angst
Updated: Nov 22, 2019
The inspection period can often be the most important (and daunting) part of the homebuying process. Having an expert eye look over your purchase will most likely bring up some items needing attention. These can range from small time tasks to costly repairs.
Fear not! We have a few tips to demystify your inspection report, and make putting together a coherent repair request a lot less scary than it sounds.
1. Inspect the inspector's findings.
Every home-- from new construction to century-old historic-- has its share of nicks and bumps. Your inspector's goal is to find any glaring problems that would be a safety, structure or health hazard. While reviewing your inspection report, make a list of any lingering questions or terms that do not seem clear. Ask if sellers have prior reports from when they purchased the home to compare to your own.
2. Prioritize items of concern.
If your list is extensive, make it a point to bring up bigger ticket items over tasks that can be added to your own weekend DIY list. More crucial repairs, such as sewer replacements or foundation issues should be prioritized over maintenance issues like caulking, painting or replacing doors and windows. With the exception of purchasing a home "as-is," sellers typically work with buyers to take care of these repairs to hold a deal together.
3. Put together a plan of action.
Your repair addendum prepared by you and your Realtor is your ticket to negotiating the necessary repairs or corrections that most houses need. Repair requests can sometimes go back and forth between parties, but ultimately, success comes from a succinct request for items that can be done by the closing date, and are reasonable and customary. An alternative to insisting upon sellers making the repairs is to request concessions in the home price or credit towards a buyer’s closing costs to allow time to interview and hire the repair professionals after the close. This ensures buyers control the costs and quality of repairs made.
As always, please give us a call anytime to talk more about the homebuying process. We're here to help!