You shop for a home. You find one you like. You make an offer— conditional on a satisfactory home inspection.
Okay so far.
Then the inspector discovers a problem with the home that may require an expensive repair or renovation. Perhaps the frame in the front door is cracked; or there’s a leak in the roof;or the furnace is due to be replaced.
What do you do?
You don’t want to pass up an opportunity to purchase what could be your dream home. On the other hand, you don’t want to have to deal with potentially costly repairs.
First, keep in mind that you did the right thing.
It’s always a good idea to get a home inspected by a professional before the offer is finalized. A qualified home inspector will go over the property with a fine tooth comb, top to bottom, inside and out, inspecting the structure, electrical systems, HVAC systems and more. It’s their job to find any deficiencies in the home and alert you to them.
If a deficiency is found, your next best step is to discuss the issue with your REALTOR®, and go over your options. Those options may include amending the offer price to cover some or all of the costs of the repair, or requiring the seller to get the repair done before you move in.
Don’t worry. This is a normal part of the negotiation process. Chances are, an agreement can be reached that is satisfactory to both parties — and gets you the house you want! And, because you had a home inspection done, you’ll know the true condition of your home when you buy it. That’s peace of mind.
Need more tips on finding your dream home? Call me today!
When shopping for a home, you’ll find many advertisements and flyers touting that a listed home is in a “Great Location”.
But great for whom?
Before accepting the claim as fact, decide for yourself. What is so appealing about that particular location? For example, you might find the neighborhood ideal for families because there are lots of kids in that area. But on the other hand, if you’re looking for a quieter place to live, a street filled with skateboarders might not be such a “Great Location”—for you.
For any further information, feel free to contact me:
Gary Arora, Broker
CENTURY 21 SkyLark Real Estate Ltd.,Brokerage
New or Old... Get it Sold!
Direct Line: 416.904.6300 | Office: 905.673.3100 | E-Mail: firstname.lastname@example.org