Friday, February 27, 2015

WHAT DO YOU MEAN MY HOUSE FAILED THE HOME INSPECTION?



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. 

 A wet basement is just one example of a home not functioning well. This may make you decide to walk away. But before you do, take into consideration all the other things that you may love about the home or property. If you don't want to walk away, then this is where you will find out how good your Realtor is. They may have to start thinking outside of the box to get the deal done. For example, you could get a few quotes for the work to be done and then ask for a price reduction from the original offer price. You could also split the cost with the home owner or get the home owner to have it fixed and have your inspector come back to have a look. In some situations, neither the buyer or seller have the resources to fix an issue. So here is an idea: find a contractor who will do the work and then submit the bills to the lawyer for payment on closing (there is more to this than I can explain here, so call me for more details!). There's more than one way to put a deal together for a seller that is motivated to sell and a buyer that likes the home or property.

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!!!


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