Relax, all homes will show problems. Even new construction homes will have problems noted on an inspection report. The reports purpose is to inform you of the condition of your home. Armed with the knowledge of the existence of condition concerns, you can now evaluate the costs, and determine which combinations of options are best for you.
Opinions vary greatly as to which conditions noted are acceptable "As Is", or could cost you a lot of money now, or down the road. I will assist you in determining pros and cons of each situation, but urge that you get a second opinion on any area you have concerns.
- No house is perfect
- Minor problems are to be expected. All houses age. They need lots of maintenance over the years, and seldom do we expect that they are in the condition, or apply the same standards of new homes.
- My job is to report on the negative aspects of condition. This does not mean the home is a bad deal!
- Now you can take some time to absorb the conditions reported and evaluate how to remedy them.
- Talk over your concerns with your realtor, your trusted contractors, lawyer, anyone who will help determine costs or risks associated with the purchase.
- Get quotes for the repairs you deem necessary.
Your Options Are:
1. Accept certain conditions "As Is".
Evaluate the condition of the home and accept the fact that no house is perfect and proceed with the sale with knowledge of the present conditions.
2. Ask seller to fix selected conditions
When armed with the cost estimates, you could ask that certain items are repaired before closing. You must also understand that the seller is not obligated to accept terms that you dictate. Repairs must be detailed as to standards of workmanship and materials. These can add to the complexity of the sales agreement and very often result in arguments and litigation about terms. Repairs and negotiations can drag out the sale indefinitely, costing all parties time and money.
3. Renegotiate the sales price.
A seller may adjust the purchase price or contract terms if major problems are found. If the problems are costly you will be able to make your decision about purchasing the home with the proper knowledge about the future cost of that home. Neither party is required to enter into negotiations of price. Chances are they priced the home with most conditions in mind.
4. Reject the sale.
Its your money. Don't let sales pressure saddle you with years of buyer remorse. The terms of this sale are in your control.
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