When your home inspection report arrives, review it thoroughly. It’s common for these reports to be 30+ pages with over 25 issues, which is typical. While most reports will list several repair items, it’s crucial to distinguish between minor cosmetic repairs and significant issues, such as structural concerns or non-functioning systems. Remember, the inspection report is for your information, not a to-do list for the seller. Focus on structural issues, safety defects, and non-working appliances.
Tips for Reviewing Your Inspection Report:
Focus on Critical Areas: Pay special attention to electrical, plumbing, roof, foundation, or water intrusion issues, as these can be costly to repair.
Consider Additional Inspections: For significant concerns, you might want to hire specialists (e.g., structural engineer, sewer inspector). Note that you’ll be responsible for their fees.
Create Repair Lists:
- Must-Do Repairs: Items the seller must fix for you to proceed with the purchase.
- Negotiable Repairs: Items you’d like fixed but can proceed without.
- DIY or Minor Issues: Items you’re willing to fix yourself or that don’t need addressing.
Review with Us: Email your lists to us, and we’ll suggest adjustments if necessary.
Negotiate Repairs or Credits: Request repairs or a credit to cover repairs post-closing. Credits reduce your closing costs, freeing up funds for repairs after closing.
Prioritize What Matters: Focus on safety, structural integrity, and functioning systems. Avoid asking for cosmetic fixes unless it’s new construction.
Negotiation Process: Once we agree on a strategy, we’ll negotiate with the seller’s agent. Simple repairs may be resolved quickly, but complex issues might take 3-7 days. Patience is key, as there’s no set timeframe for seller responses.
Final Agreement: If we reach an agreement, we will draft an addendum to the contract and send it for the seller to sign. Repairs must be completed by the final walkthrough, with receipts provided. If no agreement is reached, you have the right to cancel the contract and receive a refund of your earnest money.
