What Happens After a Home Inspection Is Completed?

Home inspections are the deal breakers of the real estate market. Most home inspections will find multiple minor problems, but when they find major issues in the condition of the home, you become nervous!

Suddenly buyer’s remorse kicks in and you wonder, is the house really worth it? 

If these are worries or concerns that are running through your mind during the home buyer’s journey, fear not! We will help you to understand exactly what happens after a home inspection is completed.

Seller’s Options

Once you receive your home inspection report, you will find a list of repairs that should be made on the property. You have the option to accept it as it is, try to negotiate, or walk away.

Most people attempt to haggle over renovations, replacements, credit, or cost reduction because why not? If you can leverage your home inspection report to save money, why shouldn’t you?

But just as you have a choice, so does the seller.

Sellers have the option to: 

• Agree to do all repairs
• Counter and agree to only some repairs
• Counter and offer credit toward the buyer’s closing cost instead of making repairs
• Refuse to do anything

The seller is not obligated to make any repairs or offer credit, but if he or she agrees to, the negotiations will continue. If the seller refuses to make repairs, the buyer must decide if they will end the contract or move forward.

So, what happens after a home inspection is completed? Let’s take a better look at the above-mentioned scenarios. 

The Seller Agrees to Do Repairs

Whether the seller agrees to do some or all of the repairs, they will have the choice to renovate as they see fit. This could mean that they DIY the project and hope for the best or that they hire a qualified contractor. 

This is why some buyers prefer credit. If the home inspector found leaky pipes and the owners claim that they have fixed those pipes, how do you know that the job was done right? Well, that’s when many people call the inspector back. 

For a smaller charge than the original inspection, an inspector will return to the property for you to check if the repairs were completed properly. A follow-up inspection is an essential step if the repair was a crucial component of the home that poses a safety hazard or risks further damage. 

Credit Towards the Closing Cost

Although this is your safest option and the least difficult to undertake, when a seller agrees to offer credit, it’s easy for the negotiations to get ugly. The homebuyer needs to be realistic about the price of new appliances or repair costs and acquire accurate estimates.

If the average furnace costs between $2,000 and $7,000, you shouldn’t ask for the highest price. Only if your research has proven that the exact size needed will cost $7,000 will the request be taken seriously. 

You must be sincere in what is actually required and not take advantage of the seller’s generosity. This will ensure a happy negotiation process and result in you purchasing your dream home without a hitch. 

Refusal to Negotiate

A home inspection report gives you the leverage to end the contract via the home inspection contingency. Both you and the seller have the option to refuse to negotiate. 

A home inspection contingency is an agreement that states that the prospective buyers will buy the home if the property passes the home inspection; however, if it does not, the buyer has the option to walk away without any obligation. 

The good news for home buyers is, no house ever “passes” a home inspection. There will always be at least one problem revealed in the report.

But we understand that nobody wants this to happen. You paid good money to have a home inspection because you love the house and wanted to own it. If the seller refuses to negotiate and the buyer walks away from the home, it’s natural to be upset. 

However, it’s important to consider that without the home inspection, they would have purchased the property with all of its flaws included. Only with the knowledge obtained through the home inspection will the buyer be able to gain intel into the condition of the home.

Don’t give up! Dust yourself off and get back into the market. Your future home is waiting for you, and with the help of a trusted real estate agent and home inspector, you’re sure to find it.

Home Inspection Services in the Tampa Bay Area

If you are looking to buy a home, we hope you always choose to accept the home inspection contingency agreement and have a home inspection performed. The report you will receive offers valuable information about the condition of the property as well as valuable time to reconsider if you really want to make that investment.

Knowing what happens after a home inspection is completed, will hopefully help you to make informed decisions. If you are looking for a meticulous home inspection service that will help you to decide if the house you want will be the home of your dreams or the money pit of your nightmares, schedule an inspection with Divinity Inspection Service today!