Once the inspection report comes back, you need to review it thoroughly. Don’t be surprised if it’s 30 + pages long with more than 25 “issues” that need to be repaired. This is typical. I’ve never seen an inspection report that didn’t have at least 5 items that needed repair. However, there is a big difference between small mainly cosmetic repairs such as needing to recaulk a shower or repair a broken microwave handle and large issues such as sewer back up in the basement. Remember, the home inspection is an informational report for you, the buyer, not a to do list for the seller. We should only be concerned about structural issues, safety defects, or appliances/mechanicals not working. Therefore, here are our tips for reading the inspection report:
Once we’ve agreed on a strategy, I’ll negotiate the inspection repairs with the seller’s agent. If there are only a few minor issues which need to be fixed, the negotiation will probably go quickly. However, if contractors or trade people need to be brought in to give estimates, expect the inspection negotiations may take 3 – 7 days. It is important to note, there is usually 3 days for each party to respond to requests on inspection items. It is best to hang tight and be patient at this time.
If we are able to come to an agreement with the sellers, both parties will sign an addendum removing the home inspection contingency. The repairs then need to be completed by the final walk through with receipts proving the work was done by licensed contractors. If we are not able to come to an agreement, you have the right to cancel the contract instead and get a refund of your earnest money.
Keep in mind, as part of the inspection negotiations we can also ask the sellers to provide a home warranty for the first year. Click here to read more about home warranties. Let me know if you’d like to ask the sellers to provide a home warranty as part of the inspection negotiations.
Questions? Call me at 202.821.5145 or email me at [email protected]
Stephanie has worked with clients in all price ranges and has successfully executed many complex transactions.