expensive for you, walk away. If the issue is likely to cause a chain of other problems, and it is hard to estimate how much it will 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 to you the advantages and disadvantages better than anyone else. Usually, there is a solution to every problem. 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 H NS 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 unless it is a significant defect or issue that was not disclosed to buyer previously and was not obvious before the inspection. Generally the negotiated price prior to the inspection is based on what the buyer has already seen and is aware of from the seller's property disclosure 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. Home appraisal, on the other hand, ensures a lender does not pay more than they should. During the appraisal, the appraiser determines the market value of the house based on its square footage, the number of rooms, bathrooms, size of the lot and amenities. 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.
63
Powered by FlippingBook