The home inspector will provide you a list of issues that must be fixed or should be optionally fixed before purchasing the home. Health and safety related issues such as faulty handrails, broken appliances, gas leaks should be addressed with the seller in this step.
You have the option to ask the seller
- For a credit reduction in purchase price
- Give you credits to fix issues applied to closing costs or in a check.
- Fix the issues him/herself before closing.
- Do nothing, accept the issues and continue to close
The seller have the option to accept your request for repairs, to provide credit for fixing, or flat out reject it. If your seller rejects your request, it’s up to you to decide if this is a deal breaker for you.
This is why it is essential to have a inspection contingency in your offer letter, enabling you to walk away from the purchase and have your earnest money returned.
