When it comes to buying a home, time is of the essence. At Repair Pricer, we understand this and ensure that every price report is completed in 24 hours or less. After receiving a home inspection report, it's time to start negotiating right away. When negotiating, focus on large items such as roofs, foundations, electricity, plumbing, HVAC systems, and areas where water has penetrated or damaged.
Don't worry about the little things and remember that “forewarned” is to have the weapons. Decide if you are going to negotiate a real repair or simply a price reduction or a credit. It can be tempting to go with the cheaper option, but a good home inspector could save you a lot of money in the long run. Home inspections identify problems with a property, whether those problems are well hidden or not well hidden. Home inspections differ from appraisals in that inspectors do not determine the dollar value of a home.
This means, in a competitive market, giving up the inspection contingency without giving up the inspection itself. The general rule is that if this affects your ability to enjoy life in the home, it's a fair game of negotiations and is one of the few reasonable requests following a home inspection. However, an inspector will not investigate topics such as pest infestations or potential hazards, such as radon, lead paint, mold, or asbestos, although they will include them in their report. Reading and understanding the report could prevent you from running out of your sight with a well of money. If the seller doesn't do the repairs after the inspection, you can still negotiate for a price reduction or credit. It's important to remember that you paid for it and that you should take advantage of this opportunity to save money.
