Who Pays for the Home Inspection Repairs Noted?
Are you trying to figure out who pays for the home inspection repairs noted? Should the home seller or the home buyer pay for the repairs that the home inspector noted in the inspection report?
When shopping for a home we fall in love with the look and feel of the home and then we hire a home inspector that will come and tell us everything that is wrong with our “home to be” and this can be scary.
Your realtor and your home inspector can help you understand the purpose and expectations from your home inspection to hopefully bring down some of the anxiety you may experience.
Hiring an inspector will help to assess the condition of the home and look for hidden problems that are typically not noticed by an untrained eye. The home inspector will give you as much information as possible to help you to make an assessment that you feel good about for the property you are considering.
Who Pays for the Home Inspection Repairs Noted?: Know your rights as a home buyer
Every state has its own requirements and laws when it comes to safety issues that need to be taken care of by the seller. If there are health-related issues such as mold, severe water damage, or missing smoke detectors on the list of things identified by the inspector then the buyer is not responsible for them and they must be taken care of by the seller before the house can be sold.
Overall, apart from those repairs mentioned and any repairs in your contract agreement, the seller is not obligated to pay for any repairs. If your inspector found extensive problems found in the home inspection, the buyer can ask that problems be repaired or ask the seller for credits by dropping the price to make up for the money that needs to be spent by the buyer to repair the home.
Who Pays for the Home Inspection Repairs Noted?: Negotiation time with the sellers
Carefully read through your home inspection report. Sit with your realtor who should have experience negotiating for repairs as needed. Determine what are the biggest issues and if you want to ask the seller to pay for the repair or give credits then it should be placed in writing. 4 Tips from Forbes
If the issues are extensive you may want to consider walking away from the property you fell in love with. Trust me you will not be in love with the property if you continue with a deal that has extensive problems that you are not prepared for.
Who Pays for the Home Inspection Repairs Noted?: The seller won’t make the repairs…
There is not much you can do if the seller does not want to pay for the repairs or they have a signed contract that states the property is to be bought “as is”.
Who Pays for the Home Inspection Repairs Noted?: Conclusion
Every deal is different. I have witnessed deals that were “as is” and the seller still made repairs or gave a credit. The buyer can try to bargain and ask the seller to pay some of the repair costs, or they can find out what their options are for walking away from the home altogether. Consulting with your real estate agent will give you the best options in this instance.
Negotiation has been challenging in the current market since Covid but that doesn’t mean it’s impossible. Good luck shopping!
I hope this information has been helpful. If you have additional questions and want to get in contact with GGR Home Inspections please send us a note, text, or call.