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20
Home Buyers: Do This After You Receive a Home Inspection Report
When you were in school, a failing grade remained on your permanent record. Fortunately, as a home buyer, you don't need to despair if there less-than-favorable results on a home inspection report.
Our real estate agents have extensive experience helping buyers understand and work through common problems uncovered by home inspection reports on Augusta homes for sale. Take these proactive steps before deciding the report is a deal-breaker.
- Include a Well-Written Inspection Clause
Groundwork should be laid before the inspection even takes place. Many sale agreements provide latitude for a buyer to have an inspection completed, but there are no consequences for the seller. Make sure the home inspection clause includes recourse for a problematic report, such as renegotiating the price or walking away if you're not satisfied. - Request a Deadline Extension
It's difficult to make informed decisions when the clock is ticking. Our agents can request an extension of the contingency period to give you more room to breathe. - Focus on the Essentials
Perfection is an unattainable standard. Even the most well-maintained home is bound to have some minor defects. Don't get caught up in quibbling about a loose doorknob, cracked tile, or other issues that are primarily cosmetic and inexpensive to fix. Focus on problems with electrical systems, plumbing, roofing, and other major structural elements. - Calculate Your Limits
Are you willing to correct any of the problems yourself? If so, figure out how much you're willing to spend in both money and time. - Obtain Estimates
Get at least three estimates from general contractors for any repairs in question. This gives you a solid framework regarding the time and money required so you have a starting point for any negotiation. - Ask the Seller to Make Repairs
Problems revealed on an inspection report give you a certain amount of leverage that can work in your favor. If you pass on the home, the seller is required to disclose the issues to other potential buyers, who would likely have the same objections. - Request a Closing Cost Credit or Purchase Price Reduction
While a seller may not want to handle the repairs themselves, they may be amenable to making a monetary concession to sweeten the deal. Either type of arrangement provides you with enough money to cover some or all of the repair costs. - Be Prepared to Walk Away
There are times when a buyer and seller are just not going to be on the same page. If the seller refuses to compromise and the needed repairs go beyond your limits, it's probably time to look elsewhere. - Don't Close the Door Completely
If the home checks enough boxes on your wish list, keep an eye on the listing. The seller may be more receptive to another purchase offer if the home remains on the market.
You don't have to be an expert on navigating the ins and outs of home buying. That's what our friendly and knowledgeable real estate agents are here for. Contact us at Sprague & Curtis for timely and reliable guidance in finding your new Augusta home.