A home is the most valuable asset for people, often lasting for generations. Because of its significance, it is essential to ensure its structural integrity and longevity, and that’s where home inspection comes in.
A thorough inspection can identify hidden issues, and this sometimes becomes the tipping point when signing the buying deed. It can uncover unexpected problems that might demand substantial and costly repairs. After the inspection, you may face a dilemma: should you submit repair requests after home inspection or simply walk away? This blog advises how to take a practical approach and choose a wiser option.
The Importance Of Home Inspection
A home inspection provides potential buyers with complete knowledge about the property’s condition. Home inspectors check every aspect of the house, including water pipes, electrical wires, foundations, and any other issues affecting its utility, safety, and structural integrity.
Once you receive the inspection report, you must decide whether to ask the seller to fix certain issues (repair requests after the home inspection) or call off the deal. Recognizing the time to request repairs and deciding to exit the deal will minimize your financial burden and home-related distress.
When To Make Repair Requests After Home Inspection
In most cases, inspection reveals minor, fixable problems that do not influence the property’s market worth or undermine its long-term stability. These issues could be leaky taps, deteriorating paint, and damaged windows. If you find these problems, submitting repair requests after a home inspection can be a reasonable choice.
Keep in view the following points when making repair requests.
Minor Repairs Vs. Major Problems
For small cosmetic flaws outlined in the inspection report, you should request repairs. These problems only affect appearance and functionality, and are basic and affordable.
Price Negotiations
When negotiating with the seller, you may request a price arrangement to provide a discount or closing credits. You can perform repairs yourself because it might be a more favorable solution to engage your preferred contractor.
Repair Costs
Repairs that cost less than $200 and require little effort justify requesting repair services to reduce post-purchase expenses. Before closing on the property, it could be beneficial to ask the seller to handle repairs.
Minor issues that can be fixed are suitable for requesting repairs, but significant problems such as roof damage or electrical system failure demand a walk away from the deal. Let’s discuss this further now.
When To Walk Away After Home Inspection
While submitting repair requests after home inspection is common, sometimes walking away is the better choice. A home purchase should be postponed or canceled when its inspection uncovers severe issues that need extensive repairs or threaten safety. Here are some red flags that might make you want to walk away:
Foundation Issues
Foundation problems like cracks and signs of settling are major issues that should trigger you to leave the deal. Foundation repair costs exceed tens of thousands in general terms and become budget-bursting expenses. In such cases, it is better to break the deal.
Roof Problems
If the roof is reaching the end of its effective age or requires extensive repairs, this signals the deal’s abandonment. A roof fix or replacement is a pricey proposition, requiring thousands of dollars in costs, so it’s better to stay away from such a deal.
Plumbing And Electrical Issues
Extensive plumbing and electrical inadequacies involving outdated wiring circuits, leaking pipes, and mold problems from water damage, will lead to high expenses and safety hazards. The wide extent of such problems may force you to spend a significant amount of money and lead to delayed occupancy.
Pet Infestations
Severe pest infestations found during inspections will likely be sufficient to terminate the deal. Hidden structural damage caused by termites becomes a pressing and expensive problem. Fixing pest issues and repairing their damage is a significant inconvenience for homeowners.
Weighing The Pros And Cons: Repair Request Vs. Walking Away
Let us highlight the advantages and disadvantages of repair and walk-away options below.
Starting with the pros of repair requests after the home inspection option.
Pros
- A carefully made repair request might compel the seller to cover repair costs.
- The cost of addressing minor repairs is usually affordable.
- The seller can lower the purchase price or give closing credits if they resist making necessary fixes.
Cons
- After inspection, the seller has the right to deny requested repairs.
- The negotiation of certain issues can be challenging because of the costs involved.
- Waiting for repairs may extend the closing period.
Now, let’s look at the pros and cons of walking away from a potential homebuying deal.
Pros
- Avoiding future maintenance expenses and other complications.
- Finding a house that matches your requirements and budget.
- Avoiding the purchase of a house with significant flaws.
Cons
- You will have to begin the house search again.
- May lose any earnest deposit money.
- Extending the buying time.
Conclusion: Making The Right Choice
When deciding between submitting repair requests after a home inspection and walking away, it ultimately comes down to the severity of the problems and your ability to handle the costs or repairs. Repair requests should be your pick when the issues are manageable. Walking away from the purchase becomes the best choice when significant expenses and safety-related flaws appear during the inspection.
Your ultimate goal should be to make a choice that suits your budget, safety requirements, and future goals. If you feel uncertain about any decision, it is safe to seek professional advice and a second opinion.
Elite Inspections provides thorough home inspections for clients who seek reliable evaluation services. An in-depth inspection report from our team of experts will guide you toward making a foolproof choice for your new home. Contact us now!
