After finding your dream home in Florida, you requested a home inspection. The results revealed problem areas, and you do not know what to do next.
The American Society of Home Inspections offers tips for navigating home inspection red flags. Address your anxieties by understanding your options for responding to less-than-stellar inspection results.
Understandably, you may feel stressed upon learning about your dream home’s issues. Before letting your emotions spiral out of control, examine the home inspection report. The problems may not be as bad as they seem. Talk with the home inspector about viable and affordable repair options. You may have no choice but to keep looking at other properties.
Withdraw your bid
You may have little choice but to take your bid elsewhere if home repairs become too expensive or extensive. Examples of home inspection deal breakers include mechanical and structural flaws. To avoid the financial fallout of withdrawing your bid, include a home inspection contingency in your real estate agreement. That way, you reclaim your escrow funds.
Ask for repairs
The seller may not mind making repairs to bring the home up to code if you propose a fix and upkeep strategy. If the seller accepts, she or he either offers a credit or handles the fixes. Sometimes, sellers reject repair requests or counter with a different credit.
Agree to a reduced price
If you feel open to handling repairs yourself, or if you want to purchase the home ASAP, see if the seller would lower the property’s price. You may need a contractor estimate for this option.
Home inspection red flags do not always end in disappointment. The right alternative could offer a viable solution for all parties involved.