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Sellers: What to Do When You Get bad home inspection results So your home inspection shows that repairs are needed. Skip the stress and follow these tips from our real estate expert.
Home inspectors not only identify problems with houses, they can give buyers information that will help them with the upkeep.. 5 home inspection mistakes buyers and sellers make. Both buyers.
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The home seller could potentially be liable for undisclosed problems under the following two situations: 1) If the seller gave the buyer some sort of warranty or guaranty. If the seller it would be liable under the terms of that document, to whatever extent (e.g up to whatever dollar amount) it specified.
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What Buyers and Sellers Need to Understand About Home Inspections Home inspections are a vital part of the real estate transaction process, so it makes sense to learn as much as you can about them. The more you know about what they entail, and more importantly, how they affect you as a buyer or seller, the more confident, you will be moving forward with your transaction.
Common repairs required after a home inspection. There are some repairs that will be required by lenders before they will release funds to finance a buyer’s home purchase. Typically these address structural defects, building code violations, or safety issues. If a home inspection reveals such problems, odds are you’re responsible for fixing them.
· Thus agent to agent communication is one of those key areas that mentally prepares both seller and buyer to have a true "meeting of the minds" and move forward. Even then I have had probably 1 out of every 25 deals die when either buyer or seller has a bad "feeling" about inspection / items asked for concession.
When negotiating after a home inspection, buyers generally should ask for credits for work that needs to be done, instead of asking the seller to do repairs.
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First, realize that a home inspection does not release a seller from the responsibility to disclose known defects. Depending on various state laws, most sellers are required to disclose to a home buyer any material facts and things that might be wrong with the home. If a seller possesses knowledge, for example, that tree roots often creep into the sewer line and need to be removed from time to.