It is always in the best interest of the buyer to have an inspection completed of the property being purchased. The inspection is the best way to protect yourself from unwanted problems once the house closing has been completed. But what if you are the seller and a home inspection has turned up some potentially serious problems? What are the next steps to take and will that inspection delay or end your sale? We have some helpful steps to take when the inspection doesn’t go as planned.
- Be prepared for the buyer to demand repairs. If a buyer has paid for the inspection in the process of buying your home they are in all rights to ask you to repair what has been found, renegotiate the contract, or back out all together. If you want to keep your sale, the best bet is to make the requested repairs.
- You don’t have to make the repairs. The seller is not under any obligation to make the repairs needed. However, if you decide not to make the repairs the seller can back out of the sale. Deciding whether or not to fix any problems will depend on how many offers you have on your house. If you are having trouble selling your home then you may want to compromise with buyer and make the repairs.
- Create an agreement with the buyer. Some buyers are will to pay for half of the repairs or take a credit for their expenses when problems are found during a home inspection. With your agent discuss options that will work for both you and the buyer for repairing any problems.
- Make the repairs. If the repairs are minor and not going to cost a lot it may be in your best interest to just make the repairs, finish the sale, and move on. In the times that it is a buyer’s market your only chance at keeping the sale could be meeting their demands and closing the deal.
- Hindsight is 20/20. You can’t turn back the clock but if you haven’t yet had on offer on your home it may pay off to have your own home inspection completed to be made aware of problems. You can either pay to have them fixed or disclose issues upfront to buyers.
To learn more about home inspections and your rights and responsibilities as a seller, contact Doorsteps today.