One of the most anxiety-producing aspects of a real estate sale is the inspection process. The buyer hires an inspector to assess the integrity of the home's structure and systems and, in some cases, air and water quality. If the inspector finds problems with the property, she notes them in her report and recommends a course of action for each. The buyer typically asks the seller to remedy most, if not all, of the issues. Thus begins the process of negotiation.
Instructions
1. Request a copy of the full report. Request copies of the sections that describe repair issues if the buyer refuses to share the full report.
2. Note the inspector's precise language and recommendations. Differentiate between issues that are merely cosmetic and those which, if ignored, would adversely affect the home's structure or systems, the buyer's enjoyment of the property, or the buyer's ability to secure financing for the purchase.
3. Devise an equitable strategy for negotiating responsibility for repairs. For example, offer to repair major items the inspector insists require repairs, and minor issues you can do easily, at little or no expense. Offer more if the buyer has been especially cooperative during previous negotiations. Offer less if you've made most of the concessions thus far.
4. Decide how you'll handle the repairs for which you accept responsibility: make the repairs yourself before closing, or reduce the purchase price so that the buyer can make them himself after he moves in, or some combination of the two.
Tags: full report, home structure, home structure systems, structure systems
