negotiate on minor repairs disclosed by an inspection long before the thought of walking away hits you. However, some repairs are just not worth it. If the problem that the homeowner refuses to fix or pay for is dangerous and you can’t fix it, it may be time to walk away. If the problem is something you need to fix soon, but it is too expensive for you, walk away. If the issue is likely to cause other problems and it isn't easy to estimate the cost, walk away. Consider the pros and cons carefully and listen to your real estate team’s advice. They are usually more experienced and may explain the advantages and disadvantages to you better than anyone else. Also, trust your own instincts. If the doubts and uncertainties are too anxiety-provoking, it might be better to turn it down and start over.
CAN INSPECTIONS AFFECT THE H NS AFFECT THE HOUSE VALUE?
The short answer is “Yes, they can,” but don’t count on it too much. Considering the inspection phase as another chance to revisit the price isn’t a good strategy. It’s not often that a house inspection has a significant impact on the sale price. That has generally been negotiated before the inspection, and the inspection is used to validate the home’s apparent condition. The role of the home inspection is to protect the buyer from inheriting major issues with the purchase. Home appraisal, however, ensures a lender does not pay more than they should. During the assessment, the appraiser determines the house's market value based on its square footage, the number of rooms, the number of bathrooms, the size of the outside territory, and the garage. The appraiser uses analytical data based on home features, comparable sales (“comps”) in the area, and other pricing factors to set a value, or market price, and creates a summary based on complex mathematical calculations. Home inspections focus on home conditions. If those conditions
54
Powered by FlippingBook