If the inspection of your dream crib doesn’t come back as pristine as you’d anticipated, you still dig it, but you gotta shell out some extra dough to make it right. You need to get back to the bargaining table and haggle for a lower price to cover the costs of the repairs.
Weighing the magnitude of the issues is the initial step. Are we talking about minor trifles like absent trim or a wall that needs a fresh coat of paint, or are we talking about major catastrophes like a busted furnace or structural problems? Once you’ve got that figured out, you can move on to your four main options: repair, replace, renovate, or walk away.
It’s all up to you, my friend. You can either renegotiate and get a sweet deal, or you can bail and find a new crib. You can also tell the seller to make the repairs, or you can just go for it and buy the house as is. Bottom line, it’s your call.
It’s a negotiation, so what’s the right answer? That’s subjective. But, let’s be real, is the seller really gonna let go of the sale over a measly $500 in repairs? That being said, it’s not always a smart move to haggle over minor stuff like appliances that still do the job, minor wear and tear from living in the house, or changes to the building code that require updates.
The Inspection Contingency. One thing to remember is that to be solidified. Your initial offer was based on a cursory glance. Now that you’ve got the full scoop on the house, you can adjust your offer. Just make sure you do it at the opportune moment, as you won’t be able to go back to the seller after the agreement is sealed.