If you write an offer to buy a house and include a contingency to get a home inspection, you can protect yourself in the deal. If you do this and find out from the inspection that the house has problems that you were not aware of when writing the offer, there are several different things you can do. Here are some of the options you have in this situation.
Get a quote for repairs
One of the best things to do after finding this out is to get a quote for repairs for the problem found, and you might even benefit by getting two or three quotes. Getting multiple quotes will help you get a solid idea about the cost to make the needed repairs, and you will need a quote in order to negotiate with the seller of the house if this is the route you choose to take.
Ask the homeowner to pay them or credit you for the costs
The most common thing to do when problems are found from an inspection is to negotiate with the seller to pay for the repairs or to credit you on the closing documents so that you can pay for them. The seller does not have to agree to do this, but of course, if the seller does not agree to it, you do not have to buy the house. If the seller agrees to do the work and completes it, then you are obligated to buy the home.
Choose a different home
If the seller refuses to fix the problems, or if you just feel like the problems are too big, you could walk away from this home and find a different one to buy. This is a good option to use if the problems are very serious.
Do nothing
There are also times when buyers will continue with the deals even after problems are found and ask for nothing from the seller. If the inspection finds just one or two minor issues, it might not be worthwhile to negotiate for these things. Instead, you may just decide to buy the house with these issues and take care of fixing them yourself after you get moved in.
Adding a home inspection contingency is always a good idea, simply because it gives you an expert opinion on the house and its condition. Talk to a local real estate agent to learn more about home inspections and other steps to take to protect yourself.
