When you’re buying a new house you will need to get a home inspection carried out to make sure there are no nasty surprises. Most of the time, the home will get a clean bill of health with only some minor wear and tear. But what happens when that inspection reveals a problem? Here are a couple of tips on how to handle the situation if the results are less than ideal.
Generally, sellers may be willing to negotiate on major issues, such as a leaky roof or cracked foundation.
This is in their best interest as your lender may not approve your loan if the home has structural defects. However, sellers will be less likely to budge on superficial items that don’t impact the overall strength of the home.
In most cases, repair credits are a good option for both parties. Sellers are often hesitant to complete repairs because of the extra hassle and time it can add onto the process. Buyers may also prefer to handle the repairs themselves to ensure the project is done to their standard.
In order to negotiate for repairs or credits, start by getting an estimate from a contractor of what the works may cost. If you’re working with a real estate agent, they should handle the negotiation for you. Make sure they have a copy of the inspection report available to use as leverage
At Compass, we provide a pre-listing inspection before so your home is 80% more likely to NOT fall out of escrow because of an inspection related issue.
This report will identify any potential issues that will arise throughout the process and give you ample time to fix them or factor them into your price.
Mary D. Carlson joins forces with the Team Azizi, a division of Compass, with a distinguished military and academic career. Mary Carlson, originally from Texas, brings Southern character with a distinguished military and academic career. Mary began her real estate career buying houses across San Diego County. She navigated her way through the Southern California marketplace and found her passion while still in the service. Mary brings a diverse skill set and a breadth of knowledge to Southern California Real Estate. Her previous career experience as an Enlisted Veteran and Civilian Engineer for the U.S. Navy allowed her to build leadership skills and gain emotional intelligence, and resiliency. Mary's #1 priority to her client is showing the extreme benefits real estate can provide as an investment and a home, while also providing them value and experience through any real estate process with a passion she believes in.
