Be prepared to ask many questions about what you see. Be certain you understand what is going on. Buying a new or pre-owned house is the biggest purchase in your life. You do not wish to gamble. You want to be thoroughly prepared. Buying a home, always obtain a quality inspection that you fully understand before signing the final contract.
WHAT TO DO AFTER THE INS O AFTER THE INSPECTION
There are three possible outcomes.
Best case scenario: everything is fine, the house is in exemplary condition, and no further work is required at this time. You are good to go. More typically, the house requires manageable repairs. This signals negotiations need to take place so the repair can be done and inspected or a price concession can be arrived at to account for the cost of repairs. Worst-case scenario: the house needs major repairs not reflected in the offer. For example, the roof has exceeded its useful life and is in immediate need of replacement. The sub-structure leaks and can not be inexpensively remediated. You must make a big decision here. You could ask the seller to vastly reconsider the sale price. You could ask for the full amount needed to fix the problems. You could walk away. A full inspection must be part of the conditions in a home sale. You must be prepared for all eventualities. Regrettably, there is no standard template and step-by-step guidance about what to do if there are house issues. All depends on how you craft your subject conditions. The best buyer option is where the seller is liable for all the repairs. Some contracts may include cost limits or split liabilities. In cases such as foreclosures, 47
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