Home Inspection - What Happens If Your Buyers Discover Unexpected Repairs?

Making an offer conditional on a home inspection is a good move as it provides buyers a better understanding of the home's condition. A qualified home inspector can identify issues with the major systems in a home which can include plumbing, heating, foundation, electrical, roofing and air conditioning systems. These can be evaluated visually or with use of testing tools.

Based on how the home inspection condition is worded in the offer, if a home inspection does uncover issues, your buyer may have several options to consider.

Some of the options include:

*They may decide that repairs are too severe for them to repair and decide not to remove/waive the condition and walk away from the transaction.

*They may still want to purchase the house but do not want to deal with the repairs themselves. In this case, the buyers may try to ask the sellers to complete the repairs before closing.

In this scenario, it is important to get any such commitment in writing and include provisions for what happens if the repairs aren’t done.

*The buyers could ask for a price reduction so that they can complete the repairs after the deal closes.

Keep in mind that there is no obligation for sellers to agree to these.

Reference: Reco's Ask Joe Column