There is no such thing as failing a home inspection. Especially if the home inspector says so!! It is not for him/her to decide. It is not a home inspector's job to advise the buyer to buy or not buy, that is the Realtor's job. The home inspector is there to determine how the home is functioning and if there are any safety issues. The home inspection is a very important part of the sale of a home. The inspector will help in determining if there are any major or minor issues with the home. He/she may even advise the buyer if there may be any costly repairs to be made or major maintenance required. This is good advice to follow. The only person involved in purchasing a home that decides if a home inspection is a valid reason to back away from a deal is the Buyer.
Every buyer is different. Some buyers get cold feet over very minor issues. Other buyers could care less if the house is falling down, if they intend on doing extensive renovations anyways. One of the biggest concerns that buyers have is flooded basements. This could be a valid reason to walk away from a deal, but it does not mean that you have to. There are many ways to deal with this sort of thing, if you like the rest of the home and property. I have personally bought a number of homes that were flooded or wet. I was not afraid of a project. Now, that being said, it is good advice to fix this particular problem right away. Do not let a wet basement simmer. It is a health concern waiting to happen, as it could produce mold. Always, when dealing with issues you are not capable of properly fixing yourself, get a few quotes from contractors that know what they are talking about. Ask the contractor to explain what they will do and what their warranty is. Also have the home inspector back to check out the work, this may make you feel more comfortable with the end results.
I would very much like to hear your comments, or if you have any questions feel free to email or call me.
Thank you for stopping by to read this. Happy selling and buying!!!