What if Major Issues Come Up on My Home Inspection?
your 3 options to move forward
A home inspection doesn't always turn up something crazy. But when inspectors find an issue with the foundation, sewer lines, roof, or another critical component, you need to know what your options are. In this video, Brent discusses the three avenues for moving forward after something big pops up in your home inspection.
Home buying can be an exciting but nerve-wracking experience. You've found a house that you love, and it seems like the perfect fit for you and your family. However, there's one crucial step that can either put your mind at ease or throw a wrench in your plans: the home inspection. In this blog, we'll explore what happens when something major comes up during your home inspection and how to handle it.
Major Issues Can Surface
As the video mentions, major issues can indeed surface during a home inspection. These issues can range from structural problems to roof issues, plumbing, electrical problems, and even sewer line issues. When you're standing on the precipice of purchasing a property, such findings can be quite daunting.
Your Three Options
When major findings emerge during a home inspection, you generally have three options:
Renegotiate the Price: You can try to renegotiate the price with the seller to account for the needed repairs. This option may work well if the seller is motivated to close the deal and willing to reduce the price accordingly.
Request Repairs: Another option is to ask the seller to repair the issues before the closing date. This approach can be especially beneficial if you're concerned about the quality of work or want to ensure that the problems are fixed to your satisfaction.
Back Out Safely: In many cases, if you're uncomfortable with the major findings and either of the above options doesn't work for you, you can choose to back out of the deal. This typically allows you to get your deposit back and exit the contract without further obligations.
Don't Panic; There Are Solutions
While a major finding during your home inspection might feel like a deal-breaker, it's not the end of the world. Real estate professionals are experienced in dealing with such situations, and there are ways to work through these issues to ensure that both the buyer and seller are satisfied.
It's essential to get a professional home inspection done to identify any major problems before closing the deal. This way, you can make informed decisions and potentially avoid surprises down the road.
Communication Is Key
Effective communication between the buyer and seller, often facilitated by real estate agents, is crucial when addressing major findings. If both parties are willing to work together to find a solution that satisfies everyone, the deal can still proceed, even with major issues on the table.
However, there may be situations where an agreement cannot be reached, and the deal falls through. It's important to remember that this isn't the end of the world. Sometimes, it's in the best interest of both parties to part ways and continue their respective home-buying or selling journeys.
In conclusion, major findings during a home inspection can be stressful, but they don't have to be the end of your real estate dreams. With the right approach and a willingness to communicate and explore solutions, you can navigate these challenges and make the best decision for your future home. So, get that home inspection done, and rest assured that there are ways to work around any major issues that may arise.
