Many people think that a home can pass or fail a property inspection. That is not the case. A professional home inspection is simply an examination of the current condition of the property. It is not an appraisal that determines market value, or a municipal inspection that verifies local code compliance. A home inspection, therefore, will not pass or fail a house. It describes the physical condition and points out any areas that may need repair or replacement.
It is the property inspector’s responsibility to report the results of the inspection in a fair, objective and professional manner. They will not tell you whether you should buy a house or not. They simply present the facts.
If you receive surprising inspection results that are not deal-killers, but disappointing, what do you do? Don't allow panic to set in and disappointment of possibly losing your dream home cause you to come up with desperation solutions. Take the following steps to gather all the information that you’ll need to make an informed decision whether to buy or not.
If the report was positive, you have nothing to worry about and can go ahead with your plans to purchase.
By Karen Lancaster
It is the property inspector’s responsibility to report the results of the inspection in a fair, objective and professional manner. They will not tell you whether you should buy a house or not. They simply present the facts.
If you receive surprising inspection results that are not deal-killers, but disappointing, what do you do? Don't allow panic to set in and disappointment of possibly losing your dream home cause you to come up with desperation solutions. Take the following steps to gather all the information that you’ll need to make an informed decision whether to buy or not.
- Immediately assess how much work you are willing to complete considering both cost and inconvenience.
- Collect at least three contractors’ quotes for the necessary repairs - for your information and to give your credibility in your negotiations with the seller.
- Once you have renegotiated with the seller, assess whether you are satisfied with the condition of the property given the final terms of the purchase, including any credits, repairs or price reduction agreed to by the seller. This will help you decide on whether to move forward with the deal or not.
If the report was positive, you have nothing to worry about and can go ahead with your plans to purchase.
By Karen Lancaster