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TRUE SPEC HOME INSPECTIONS WHAT CAN A HOME INSPECTION DO FOR YOU? A HOME INSPECTION IS CRUCIAL BECAUSE IT CAN BE USED AS A DECIDING FACTOR IN YOUR PURCHASE OFFER. THIS PROVIDES THAT IF SIGNIFICANT DEFECTS ARE REVEALED BY A HOME INSPECTION, YOU MAY BE ABLE TO BACK OUT OF YOUR CURRENT OFFER WITHIN A CERTAIN TIME FRAME. ONCE YOU HAVE THE RESULTS OF YOUR HOME INSPECTION, YOU HAVE SEVERAL OPTIONS: IF THE PROBLEMS ARE TOO SIGNIFICANT OR TOO EXPENSIVE TO FIX, AND THE BUYER AND SELLER CANNOT REACH AN AGREEMENT YOU CAN CHOOSE TO WALK AWAY FROM THE PURCHASE, AS LONG AS THE PURCHASE CONTRACT HAS AN INSPECTION CONTINGENCY. FOR PROBLEMS LARGE OR SMALL, YOU CAN ASK THE SELLER TO HAVE THEM REPAIRED, REDUCE THE CONTRACT PRICE, OR TO GIVE YOU A CREDIT AT CLOSING WHICH WILL ENABLE YOU TO REPAIR THE PROBLEMS YOURSELF – THIS IS WHERE A HOME INSPECTION PAYS FOR ITSELF. IF THESE OPTIONS AREN’T VIABLE IN YOUR SITUATION (FOR EXAMPLE, IF THE PROPERTY IS BANK-OWNED AND/OR BEING SOLD AS-IS), YOU MAY BE ABLE TO RECEIVE ESTIMATES TO FIX THE PROBLEMS YOURSELF ONCE YOU ARE THE CURRENT OWNER OF THE PROPERTY. |
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