Mark Slade - FirstTimeBuyer

Another common mistake is to go to the inspection and be too afraid to ask questions about what you see. Some things that are common knowledge to the inspector might be new to you. Ask. Do not be intimidated out of asking for an explanation if you do not understand what is going on. Another mistake that buyers make is to leave without checking the utilities. They may be off, but you should ask for them to be turned back on to make sure that there are no leaks, and that everything is connected correctly. All house inspection conditions apply to new homes as well. Newly built houses can also have issues. Buying a house may well be the biggest purchase in your life, and it is not the time to gamble, especially with so much money at stake. When buying a home, get an inspection prior to signing — no ifs, ands, or buts. WHAT TO DO AFTER THE INSPECTION After receiving a report, there are two possible outcomes whichwill dictate how the situation develops. In the best-case scenario, everything is fine, the house is in exemplary condition, and no further work is required. You are good to go with other paperwork. The more likely scenario is that the house requires some minor repairs. This may involve negotiations that, for instance, the repairs be done and inspected again beforemoving along, or a price concession to account for your expense in making the repairs after the purchase. The worst-case scenario is that the house needs major investment not accounted for in the offer; for example, the roof has exceeded its useful life and is in immediate need of a total replacement, or the sub-structure leaks and cannot be inexpensively remediated. You may ask the seller to vastly reconsider the sale price, ask for the full amount to fix the problem(s), or walk away. A full inspection should always be part of the conditions/ contingencies in a home sale, and so failing the inspection means any earnest or escrowmoney will be returned. Regretfully, there is no standard template and step-by-step guide about what to do if there are issues with the house. It depends on how you crafted


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