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 a chain of other problems, and it is hard to estimate its 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 better than anyone else. Also, listen to your own gut. If the doubts and uncertainties are too anxiety-provoking, it might be better to turn it down and start over.
CAN INSPECTIONS AFFECT THE HOUSE VALUE?
The short answer is “Yes, they can,” but don’t count on it too much. Thinking of the inspection period as another chance to revisit price isn’t a good strategy. It’s not often that the house inspection greatly affects the sale price. That has generally been negotiated prior to 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 along with his purchase. On the other hand, a home appraisal ensures the lender does not pay more than they should. During the appraisal, the appraiser determines the house's market value based on its square footage, the number of rooms, bathrooms, size of the outside territory, and the garage. The appraiser uses analytic data based on home features, comparable sales (“comps”) in the area, and other pricing factors to set a value, or market price, and makes his summary based on complex mathematical calculations.
Home inspections focus on home conditions. If those conditions
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