A home inspection enables the potential buyers to evaluate the property effectively, including the repairs, improvements or upgrades. With the home inspection report in hand, the buyer is aware of the problem areas of the house. This leads the buyers to the question, do I have to fix everything outlined in a home inspection report? The issues illustrated by the inspector or professional expert should be given due attention, especially when it comes to structural issues, health hazards and common repairs needed after the home inspection.
There are issues that include contamination or mould, appliances or air conditioners and health hazards. Here are a few things which help you to address what fixes are mandatory after a home inspection and how should one go about the repairs after a home inspection.
Do I have to fix everything on a home inspection?
After the process of inspection, buyers are provided with a detailed report of the issues concerning the house. There are all kinds of issues, from mould and chemical contamination to roof damage and plumbing issues. It comes under the buyer’s discretion to invest in the right fixes. To make the house habitable, it is necessary to prioritize the fixes along with the negotiations with the seller.
Some of the common repairs needed after a home inspection can be overlooked but the buyers should address health hazards and risky structural formations of the property on a priority basis. Here is a handy list of issues that should be addressed immediately:
- Building code violations
- Electrical hazards
- Fire hazards
- Major structural hazards
- Mould damage
- Pest or wildlife infestation
- Toxic or chemical hazards
- Trip hazards
- Water damage
There are a few cosmetic fixes for wear and tear which are not considered mandatory and are the responsibility of the seller.
Common repairs needed after a home inspection
Along with the list of mandatory repairs, we have enlisted a few more areas of concern to make the property safe and habitable. Some of the issues laid down may require immediate attention, however, others may be given due importance at a later stage:
- Broken appliances
- Drainage issues
- HVAC issues
- Plumbing issues like poor water pressure or leaks
As these are the most common repairs needed after a home inspection, some contracts may involve the seller covering the cost for the same. At the structural level, drainage, roofing and plumbing issues are significant to make the house liveable and safe. However, when it comes to broken appliances and HVAC issues, some sellers might insist on the buyer to pay for the cost incurred.
The real deal: Who pays for the repairs after a home inspection?
From the question of does the seller have to fix home inspection to the question of who pays the price of the repairs, the buyers and sellers often engage in a tug of war. Although, the perpetual question has been who pays for repairs after a home inspection. It is important on the part of the buyers to negotiate repairs or to bring the costs down. This is especially important is one is nearing the deal closure. The reason to negotiate repairs is to protect your investment for the long term. Some may require immediate repairing and some, in the long run, may turn up to be hazardous. It is advisable to negotiate the purchase price or ask for cash to cover some costs. If a seller is eager to close the deal, they may be more willing to accept the buyer’s terms.
The seller can appease the buyer without taking on the full responsibility of the repairs and improvements. When it comes to major structural issues, the seller is responsible for the cost of repair. Sometimes the seller tends to offer exemption for items like furniture and appliances instead. The structural issues may take a toll on the house as it can be risky for the buyer to move into a house that is unsafe. Some sellers may budge on repairs if it means they don’t have to shop around and spend money on furnishings.
Along with this, there is an option to offer a home warranty into the deal. This could cover buying temporary coverage for the buyer which would help pay for any issues that arise while the policy is active. For a buyer, this may be treated as an extension of the contract, and the buyer must ensure that they are acquainted with the proposed policy. Home warranties can be tricky so it is not quite unusual to consider taking help from lawyers or real estate agents.
Who pays for repairs after a home inspection?
The buyers face the problem of paying for the repairs which are sometimes the responsibility of the homeowners. The homeowner sometimes does not care to pay for the repairs and walks away from the deal. It is difficult for the buyer because not only are they emotionally but also financially invested in the property. But if there is a difference of opinion in paying for the property repairs, the house does not become habitable for the buyer.
It is wise on the part of the buyer to address the question of paying for the repair cost at the onset of the property agreement. Sometimes the agreement lists the common repairs needed after a home inspection which makes the seller liable to pay for before the buyer moves in. The major problem areas are usually electrical issues, plumbing, drainage, sewer, septic, water issues, mould issues, HVAC problems that affect home comfort, leaking roofs or missing shingles and termite and pest damage. Whether the buyer or seller pays for home repairs depends on the contract you’ve negotiated and the location of the property. This may sometime mean that the seller is not at all obligated to pay for anything but they should disclose all known issues in good faith and work with the buyer in the inspection process.
With fixes after a home inspection, there’s always a tussle between the potential buyers and seller. It is encouraged to address the issues at hand with an open mind. No matter the side, it is important on the part of the member of civil society to abide by the contract.