What happens after the home inspection?
Once the home inspection is complete, four possible scenarios could unfold:
- You close on the sale: You may end up buying the property as agreed upon, without making any changes to the asking price.
- The seller makes the necessary repairs: Sometimes, sellers can fix some issues found in the inspection report before closing.
- The final sale price is reduced: You can negotiate with the seller to reduce the asking price by the amount that would go into repairs.
- You cancel the deal: If an issue is discovered that is a safety hazard, you can walk out on the deal.
A real estate inspection report can identify multiple issues, even trivial ones like a broken tap or a cracked tile. Thus, reconsider your purchase based on the severity of the issues, and not on the number in the inspection report.
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