Most Atlanta real estate buyers know a home inspection is good protection against purchasing a piece of property with significant problems. But what if issues arise during the home inspection? Sometimes it can be difficult to know when to ask for repairs, a home allowance – or simply walk away from the deal. Check out these tips for taking home inspection problems in stride.
Reading the Report
Once your home inspection is complete, go over the report carefully. There are nearly always a few items on the inspection report, which could range from very minor DIY repair projects to major structural issues. Determine which problems you can handle and which will require a professional. These are the issues that you will need to address with the seller prior to the closing of your new Atlanta real estate purchase.
Let the Negotiations Begin
There are a number of ways to handle negotiations after the home inspection. First, you can ask the seller to make the repairs prior to the closing, providing you with proof that the work was done. Second, you can request additional funds in escrow after the closing of the home so you can make the repairs yourself. Finally, you can also ask for a lower purchase price to help offset the repair costs once the home is officially yours.
In some cases, the seller may not be willing to make the repairs for you, either due to time or financial restraints. While many buyers opt for the lower purchase price to accommodate for the repairs, this decision means you will have to come up with the money for repairs yourself, since you won't see actual cash handed over. If you choose instead to have money left in escrow, you will have funds readily available to handle the repairs right away.
In extreme cases, the best choice with a problematic home inspection is to walk away from the deal. While this can be difficult, the large inventory of Atlanta real estate ensures you will find a comparable home without as many problems. Finding a house that is as structurally sound as it is beautiful will ensure your family can live there happily for many years to come.