How to resolve inspection issues

Why Inspect

CB064147The main reason to perform a buyer's inspection is so that you know what you are purchasing. You can read more about why you should inspect at this blog post. If the inspection turns up a $6,000 problem, it would a good time to renegotiate the purchase since you discovered a problem that wasn't apparent when you made the offer. If you made an offer on a home that has problems that you can visibly see, those items usually would not be negotiated during the inspection time frame, since your initial offer would have already accounted for those issues.

Results are in

Once you have the final inspection report, it is time to figure out what should be of concern and what can be saved for later. Most of the time, the inspection report will be a laundry list of what is wrong with a home. Believe me when I say that EVERY home has its problems, even new construction. The main reason for the inspection is to figure out which flaws you can live with and which we should renegotiate on. Usually small items are not negotiated, and we only try to renegotiate if we have larger more expensive items to repair, or sometimes, if we have a lump sum of many smaller items that add up to a significant value. Some examples of items that should be renegotiated are: a failing roof ($8,000), a failing foundation wall ($20,000), a failing furnace ($2,000), a failing sewer line ($6,000), or other similarly expensive items. When we see items like failed GFCI ($10), or inappropriate S trap ($100) or a lack of downspout extensions ($20), these small cost items are usually not negotiated on. They are inexpensive enough to correct once you close on the home, and if we open up negotiations, there's always a chance the seller may not agree and want to cancel the deal.

Also, taking on the repairs yourself gives you control of the outcome. If we ask the seller to recaulk a bathtub, they may find the cheapest $3 tube of caulk and do a sloppy job of it. It's better for you to take control of these types of issues so that the quality can be assured.

Negotiating Inspection Issues

Once you determine that you should negotiate an inspection issue, there are several ways to solve the problem. The most common methods that we use in the Minneapolis housing market are outlined below.

These are just a few of the ways that we use to normally resolve inspection issues here in the Minneapolis housing market. Hope that your inspection goes as planned.

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