If you plan to buy a home, you will likely include a HOME INSPECTION CONTINGENCY to your offer. Home inspection periods typically last 3-7 days (the shorter the period the stronger your offer) and require you to hire a professional home inspector (not your Uncle Bob) to take a look at the home and provide you with a written report. At that point, you will have the option to request that the seller repair items through another negotiation. But, if the inspector looks at you and says something like “this home sits on a sink hole” or “it will probably roll off the side of that cliff” then you can void the contract and walk away.
A smart home inspection strategy is to negotiate a dollar amount that will cover the cost of the repairs that the home needs. The worst possible scenario happens when a real estate agent writes a vague home inspection addendum, or submits the home inspectors list to fix everything. That tactic is a sure fire way to get a seller to say NO to your offer
If there is one thing to summarize this entire blog its: BEING SPECIFIC IS SMART. You (yes, YOU the buyer) and your agent (me) need to understand the inspection and ask for specific repairs to be made that make sense OR dollar credits rather than having the seller hire the cheapest guy on the block to make the repairs. If an item needs an evaluation from another certifiable professional then include that request in your addendum and negotiate that item.
Thank you for visiting my blog! If you or friends/family are looking for a home I would love the opportunity to work with you!
Amanda Doub with Re/Max Advantage PLUS “Preferred Team”