Common repairs sellers need to do after a home inspection
A home inspection is one of the final stages in the process of purchasing a new home. It is of utter importance for several reasons. As professional home inspectors can detect the potential issues buyers as amateurs cannot notice during a showing, they can prevent great expenses that might arise after closing a deal. Also, these experts can point to potential health hazards in the house a buyer is considering. Finally, through their report, inspectors list all the necessary repairs that can influence the negotiation process, the final price, or even the decision of whether a buyer will buy a house or not. Understandably, when purchasing a house, you have to be clear with which repairs are your responsibility and which repairs sellers need to do after a home inspection. Thus, we have decided to provide you with a detailed explanation of the subject.
Are there any mandatory repairs sellers need to do after a home inspection?
Legally, mandatory repairs do not exist. However, it is critical to eliminate any defects that make a house unsafe and uninhabitable. Sellers are responsible for these issues as they are an obstacle for a prospective buyer to get the loan from the lender or to get the homeowner’s insurance. Undoubtedly, without conducting these repairs, it would be impossible to sell the house, which is a serious problem for the seller.
In some states, there is a so-called “as-is” contract. Namely, if buyers decide to sign this contract with the seller, they accept the house in the current condition and are responsible for all the fixes. This is a very favorable option for the sellers, even if they have to set it at a lower price. It is favorable for the buyer as well since, if it turns out that there are too many defects on the property according to the report of the house inspector, the buyer has the right to walk away from the deal.
Common repairs sellers need to do after a home inspection
These repairs can be classified into two different groups:
- Highly required repairs
- The repairs debatable with the buyer
Highly required repairs
This group includes those defects that are very serious. They are very expensive to eliminate. Also, they are critical for buyers if they expect to get financial funds from the lender for the purchase. Some of the common issues in this group include structural defects, HVAC, drainage, and plumbing issues, building code violations, and the presence of termites and mold. Sellers are responsible for solving these problems. Thus, they need a good plan if they want to complete the tasks on time and keep the potential buyer.
When a home inspector detects some of the above-listed problems, the sellers should instantly start looking for viable solutions. The first step is to gather bids from contractors and make calculations to find out how much the endeavor will cost. Once they know the amount of money they need for these fixes, sellers have two options available. They can either organize, perform, and pay for the repairs. Or, they can consult the prospective buyers and offer them a credit to organize and pay for these repairs themselves. Understandably, the latter option is much more favorable for the seller. However, it is always problematic whether the buyer will accept this type of deal.
The repairs debatable with the buyer
These are the repairs within the so-called “gray zone”. They are negotiable between the seller and the buyer. The final decision on who will be responsible for them mostly depends on the type of market the seller and the buyer are operating in. If it is the buyer’s market, the competition is very hard. There is a vast number of properties for sale, so the seller will be the one to invest more effort to reach an agreement. On the other hand, if they operate in the seller’s market, the buyer is not given much choice. There are not many properties for sale, so the buyer will have to compromise more.
An example of the repairs debatable with the buyer is broken appliances. If you are a buyer who is considering remodeling the kitchen after moving in, getting proper compensation for these appliances is not a bad idea. This is an acceptable solution for sellers as well, particularly for those who are impatient to close the deal, move out, and finally continue with their lives.
The repairs sellers are not responsible for
Any cosmetic fixes are never the responsibility of sellers. If you want a complete remodel, do not expect the seller to pay for it. You will have to find a group of experts to organize and handle all the changes you want to make your new house more comfortable and attractive.
If you have any ideas or visions you want to realize in your new living space, hiring an interior designer is always an intelligent thing to do. These competent professionals have enough experience to meet your expectations and requirements. Also, they can suggest creative ideas you may like as well. Investing in their services is by no means a worthy investment.
What to do if a seller refuses to conduct the necessary repairs?
The easiest solution is simply to look for another house to buy. This can be very difficult and stressful if you have finally found the property you like and that is in line with your needs and taste. Still, if you cannot agree with the seller on how to solve the issues to make the house safe and livable, walking away from the deal is the only reasonable decision you can make. There is a significant difference between fixing up your home to give it your personal touch and performing large, costly repairs to eliminate all the potential hazards in a house.
A home inspection can reveal various issues that need to be addressed properly and fast. Common repairs a seller needs to do after a home inspection usually include structural defects, health hazards, and safety issues. However, it is possible to negotiate these fixes and reach an agreement to both the seller’s and the buyer’s satisfaction. Hence, whether you are selling or buying, when you have professional assistance and are willing to compromise, closing a deal to your satisfaction comes in no time.