Inspectors Found Something Wrong with the Home I Want – What Should I Do?
Posted on | March 22, 2009 | 1 Comment
The job of the home inspector is to find the things that are wrong with the home so do not be surprised if they do find many problems that need to be fixed. Once a problem is found by the inspector, you must answer the question “is the problem fixable?” If the problem is fixable, you have the option to negotiate a lower price to accommodate the extra expenses to fix the issues. In a buyers market, as much of America is today, you will have more leverage on the seller as most sellers want to unload the house. Make sure to be reasonable with your requests because if you are not, you could lose the house you desire.
If the problems are unfixable you can withdraw from the contract or renegotiate the purchase price to reflect the long term costs of the unfixable problems. Some unfixable problems include:
- The house sites on a fault line
- The house is in a floodplain
- The foundation is cracked more than 1/8 of an inch
- The house is located under electromagnetic power lines
If any of these issues arise, you must determine if the house is worth these major issues. You might get a greatly reducted price, but it is worth it in the long run? That is the question you must ask yourself. Click the link below for answers to more home buying questions.
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March 30th, 2009 @ 4:22 pm
It is terrible to think that some people don’t get proper inspections done before buying a house. I know somebody recently that bought a large property, never got an inspection and discovered that one whole room of the building was completely eaten away by termites on the inside, of cause this was not visible until they began to renovate.