What requests "should" you make after your home inspection?
A home inspection is a crucial step in the process of purchasing a new home. Based on the findings of the inspection, it can ultimately determine whether you move forward with the buying process, so, it's a pretty big deal. No wonder that both the buyer and seller anxiously await the inspection report findings — and whether the sale will work out.
Take Note
In most cases, the homebuyer will be the one who orders and pays for the home inspection. Once the inspection is complete the report should be released and sent to the buyer within 24–48 hours. At this time, buyers have time to review the report with their Real Estate Agent and decide on any and all requests to the seller, as outlined in the inspection addendum.
It's important to do some research to find out how much these repairs may cost so they can be addressed with the seller. At this point, there may be some negotiations between the buyer and seller. Negotiations can result in a few outcomes:
- the seller may offer to repair the issues
- the buyer may have to fix them
- the seller can offer a credit toward the price of the home for those repairs
Once all of the repairs have been mutually agreed upon, the homebuying process moves forward toward closing.
The Inspection Report
Before reviewing the report with your Real Estate Agent, it's important to keep these key points in mind.
- An inspector is paid to point out every single thing that they can find even slightly wrong - remember the inspector will be evaluating many aspects of the home, with an approximate 1,600 point checklist
- While the common inspection does cover many aspects of a home, it doesn't cover them all. If you are interested in a deeper dive into specific areas of the home, you should consider a specialty inspection
- If the house isn't a brand new home, you shouldn't expect perfection
- The inspector will not report cosmetic defects
The Requests
Ok, so what exactly should a buyer request be resolved, fixed or replaced by the seller? Unfortunately, there is not a cut-and-dry answer. This is because there is no "standard" and is largely defined based on individual situations and the overall condition of the home.
In reality, it comes down to what items absolutely need to be repaired for the mortgage to even be approved (if a mortgage is involved). This leaves anything else up to negotiations between the buyer and the seller.
Focus on Major Issues
When you buy a home it's important that you're happy with the house and its condition. However, when addressing issues found through an inspection report, try to stay objective. Focus on major things like safety hazards and structural or system issues, all of which can be very expensive to repair.
Although it isn't unheard of for a buyer to ask for cosmetic fixes, there can be pushback from the sellers which may only draw out the sale. Plus going overboard with requests may put the sellers on the defense and ultimately end in them being less willing to fix or address more pressing issues.
Lastly, if the findings of the inspection report reveal extensive issues or damage (such as termites or radon) there is a good chance that it won't be possible for the mortgage to be approved, period.
As a buyer, it's normal to feel very overwhelmed when reviewing an inspection report. It would be nice if there were a rule book that everyone could follow to make follow up easy. Unfortunately, this is one area that is completely different in almost every sale.
That's why it's so important to work with an experienced and knowledgeable Real Estate Agent who will be able to guide you through the process while answering any questions you may have along the way. After all, "happily ever after" in your dream home only comes with confidence that your new home is safe and sturdy for many years to come.
