Home Inspection Day
The day of inspection is here. All your hopes and dreams pend on the inspection, right? Wrong! There is no need to get frantic about what the inspection report is going to tell you. An inspection is an essential part of most real estate transactions. More essentially in this market, you need to have your future home checked for any minor and hopefully no major repairs.
Whether minor or major, approach the repairs with a level head. The major repairs are the ones to focus on first as minor repairs are not the ultimate goal of an inspection. If you see there is a major repair needed in your future home, it needs to be handled as soon as possible to avoid problems at closing.
As a buyer, you are entitled to get quotes for the repair and present the requests to the sellers in hopes that they will do the repairs or reduce the selling price.
Do not be surprised if the sellers also get repair quotes as a negotiation tool. Either party can proceed with repairs, but motivated sellers who are too busy to have the repairs done may offer the buyers a credit. In turn, the buyer can have the repairs done to their desires and time scale. But in any circumstance, once there is an understanding about the repairs and the terms, have it all in writing and dated and signed by both parties. If the seller has the repairs done, make sure the receipts are presented for all work done.
Remember, in real estate each step has to be documented to ensure each party is satisfied at closing. Moody Realty is here to lead you in the right direction. If you have any questions about getting you into a home, call us at 205-640-7671.