Question:
“I just got married and my wife and I are planning to buy our first home and I have a question. What happens if a house fails a home inspection?”
Answer:
Home inspectors don’t pass/fail a home.
They inspect it, describe its condition, and indicate what needs attention now or possibly in the future.
If your inspector finds items that need attention, go through the list and pick those most important to you that were not obvious when you walked through the home. Then ask the seller to make repairs or — much better — credit you funds in lieu of repairs.
Be aware that home sellers are only required to repair items agreed in the contract and to have:
- Operative smoke detectors in all sleeping areas.
- Operative carbon dioxide detectors in all sleeping areas.
- A properly earthquake-strapped water heater.
If you can’t reach agreement, you can cancel the sale and have your deposit returned to you (provided you have not released your investigation contingency.)
Be sure not to lose sight of the goal: buying a home you love at a fair price. Don’t let your repair negotiations be ego- or emotion-driven. Make good business decisions. You’ve looked for weeks or months for this home. Don’t bail out on a home you really want because of a $1,500 repair the seller won’t make.
Remember, no home is perfect, not even a newly-built one. So if the items aren’t overwhelming, go ahead and close your purchase, and address the other items after closing.
