What happens when the home inspection report says several items need repair or replacing?
If you’re a buyer or seller, there are many options:
1. Get the sellers to fix the deficiencies
2. Reduce the sales price to make up for the repairs
3. Back out of the contract if there’s an inspection contingency in place
4. Fix the issues yourself after you move in
1. Repair some deficiencies
2. Credit the buyers for the deficiencies
3. Don’t fix the issues and risk losing the buyers
4. Do a pre-inspection before listing your home
Kim Lee PREC*
Oakwyn Realty Downtown Ltd.