What if the report reveals problems?
No building is perfect. If the inspector identifies problems, it doesn’t necessarily mean you shouldn’t buy, only that you will know in advance what to expect. A seller may adjust the purchase price or contract terms if major problems are found. If your budget is tight, or if you don’t wish to become involved in future repair work, this information will be extremely important to you.
If the inspector finds fault in a home it doesn’t necessarily mean you shouldn’t buy it, only that you will know in advance what type of repairs to anticipate. A seller may be willing to renegotiate the purchase price because of significant problems discovered in inspection or even make repairs to the systems observed to be deficient. If your budget is very tight, or if you don’t wish to become involved in future repair work, you may decide that this is not the house for you. The choice is yours.
No house is perfect. You need to take the findings and consider them carefully. Sometimes you will need to get more information from specialist (for example an engineer perhaps). You should compare our findings with your appraisal, similar properties and the cost of repair in order to make a decision. For example, would you pay $10,000 for a $100,000 dollar home that needs $30,000 in repair? (most people would). On the other hand, would you pay $100,000 for a $100,000 home that needs $30,000 in repair? (most people probably would not). With important information in mind you can then decide if you want to attempt further negotiation with the seller, accept the property as is or terminate the contract and go on to another home.
No house is perfect. If the inspector identifies problems, it doesn’t necessarily mean you shouldn’t buy the house, only that you will know in advance what to expect. A seller may adjust the purchase price or contract terms if major problems are found. If your budget is tight, or if you don’t wish to become involved in future repair work, this information will be extremely important to you.
