Jeff’s Carlsbad Blog for First Time Home Buyers

After the Inspection – What if There are Problems? (Part 1 of 2)

Posted in Financial,Inspections by Jeff Dowler on December 29, 2006

carpenter_5.gifI spoke previously about the importance of getting a home inspection, even if you are buying new construction. But what happens if you find some problems, but are still interested in purchasing the house (the more common situation).

While some problems are serious (cracked foundation, structural flaws) or extensive enough that buyers decide to pass on the deal, most of the time buyers want to purchase the home anyway, but would like to have the problems dealt with in some way. So what are your options?

1. Walk away from the deal – unless the purchase contract precludes doing this, you generally have the option to back out of the deal within a specific period of time and retain your deposit. You will likely need to provide a copy of the inspection.

2. Request the sellers to fix the problems – you can ask for a few, some or all of the issues to be addressed (discuss this strategy with your REALTOR). Keep in mind that the more you request the less likely the seller will be to accommodate you, in most cases. Don’t be unreasonable (asking the seller to replace a broker receptacle cover is absurd).

3. Request the sellers to provide a credit at closing to cover the cost of the repairs (again, something to be negotiated and can vary depending on the extent of the problems).

4. A combination of 2 and 3 – some things may be better attended to by the buyer (that way you can get it fixed the way you want). Or the seller may prefer to simply pay for the repairs rather than having to deal with it.

Please let me know if you have any questions.


One Response to 'After the Inspection – What if There are Problems? (Part 1 of 2)'

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  1. […] the first post in this series, I talked about your options if after the inspection what if there are problems. Assuming you decide to go ahead, here’s how to do it. Please keep in mind that each state […]

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