Repairs May Be Yours to Make on the Home Inspection Report, Mr. Buyer
Buyers in this changing market need to know that the playing field has changed. Sellers are not nearly as quick to agree to do repairs so if the buyer really wants the house, you must be prepared to pay for repairs yourself. If the issue is major the seller may give a repair allowance or dollar adjustment but then again, he may not. You need to understand what the purpose of the home inspection is when you buy a home in Clarksville TN.
The real estate contract
we use in Tennessee has an inspection clause and a buyer can ask for an inspection contingency. What we see is a 10-14 day inspection period to allow the buyer a chance for an home inspector and termite company to check out the home and systems. In Tennessee. home inspectors and pest control companies must be licensed to do this type of work.
When these inspections are completed
there are decisions to be made. These decisions are the buyer's to make. The buyer can terminate the contract based on the home inspection report, ask for some repairs or take the home "As-Is". If the buyer is getting financing, keep in mind that the appraiser may require some repairs be done to secure the loan.
If you get a home inspection
you need to know your options. I tell my buyers before the inspection is done what could occur. If the buyer asks if the seller will fix anything or everything, I say in this market, not likely. A very motivated seller that needs to move fast may agree to fix a few things. But know they are not required to make any repairs because it is a negotiable part of the contract. You always have the right to terminate if the clause has been filled out.
Know Your Options
I always advise a buyer to get a home inspection even on new homes. Even if you don't intend to ask for any repairs it is good to know what you are dealing with in terms of repairs. Repair requests in a home inspection are negotiable so if an agreement can't be reached neither party is bound to the contract.
When buying or selling your Clarksville home contact The Real Debbie Reynolds. Begin searching for a Clarksville home here. 931-320-6730.