The seller has accepted your offer, and the house inspection is about to begin. The money is in escrow and the purchase agreement has been signed. The inspector will look for as many flaws as they can in the home's roof, flooring, walls, windows, and structural support parts during the inspection.
You can start requesting repairs from the seller once the inspection is complete; normally, requests cannot be made before that point. Once you have the inspection report in your possession, you can request that the seller make any necessary repairs.
The purchase of real estate is generally described as being made "as is" in the majority of states; however, purchase offers frequently give the buyer the right to inspect the property, review reports and the seller's disclosures, and cancel the agreement if the buyer is not entirely satisfied with what they find.
Mandatory Repairs After a Home Inspection
Following a house inspection, there are several fixes that sellers must make. Safety-related problems like structural deterioration, mold growth, and fire code violations are among them.
Some of the most common mandatory repairs include:
- Molds
- Fire Hazards
- Electrical Hazards
- Chemical Hazards
- Structural Hazards
- Water Damage
- Building Code Violations
- Pest Infestation
Think about the repairs that the seller should handle.
Sellers frequently agree to make repairs if the request is acceptable. Because it can be expensive for sellers to renew their marketing and locate a new buyer, this choice is often smart.
Additionally, because the seller is now aware of the problems, they might be required by applicable disclosure rules to report those problems to the subsequent buyer. In addition, in terms of the overall transaction, the repair list monetary amount is typically quite little.
Credit in Lieu of Repairs
Sometimes, rather than asking the seller to replace or repair something, purchasers are better off asking for cash credit on a repair item. As long as the sum sought is acceptable, a seller will typically prefer a request for cash credit to perform the repairs.
Sellers might not share your aesthetic preferences or standards. You might want to wait and take care of something yourself if it's crucial to you that it be updated or mended a certain way.
