As a buyer, what should I expect from the sellers after I have a professional home inspection on their home?

Most home purchases in today’s market are made contingent upon a home inspection.  Typically, the purchase of the home is negotiated and all terms and conditions of the sale are finalized and then the buyers conduct a home inspection.  Experience has taught that even homes in seemingly good condition will likely generate a small laundry list of items that are in need of repair or updating.  This should not be surprising and yet when that list is generated many buyers feel this is their opportunity to go back to the sellers and have the sellers either reduce the price or repair the laundry list of items. This is not to suggest that if there are “serious or critical” items on the list that they need not be dealt with.  Certainly they do.  However, the inspection contingency form in the purchase agreement states right at the top of the page in capitalized and bold letters the following:  “THE PROPERTY,  IF NOT NEW,  CANNOT BE EXPECTED TO BE IN NEW CONDITION. ROUTINE MAINTENANCE ITEMS ARE NOT PART OF THIS ADDENDUM.”  When the inspection is complete and the buyer has had the opportunity to review the inspection report, the first question the buyer must ask is: Do I/we still wish to purchase this home knowing what we know after the inspection?”  If the answer is no, then it may be best to simply cancel the purchase agreement and move on.  Fortunately, this is by far the exception and not the norm.  If the buyer, post-inspection, is still as interested as they were at the time of purchase, then it will be best to take a good hard look at the report and either accept the property for what it is (not a new home) or focus on the items that are most critical and work with the sellers to address that small list of items.

Contact Larry Eberhard for additional questions:  651-702-4000

larry@larryeberhard.com

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