When it comes to home inspections, buyers and sellers need to negotiate in order to ensure both parties are satisfied with the outcome. Most inspections involve a professional inspector going through the house, identifying items that need to be repaired, maintained or replaced. After the inspection is complete, buyers typically present the seller with a list of items they would like to have fixed or they may request a seller concession in the form of a dollar value. When discussing the inspection, buyers and sellers should make sure they understand the scope of work they are agreeing to. If repairs are necessary, the buyer and seller should discuss who will cover the cost and who will be responsible for the repairs.
It is important that both parties agree on the terms of the inspection before making any commitments. It is also important for the buyer and seller to understand their rights and responsibilities before the inspection. Sellers are responsible for disclosing all known defects in the home and buyers should be sure to ask questions about any issues that arise during the inspection. Buyers should also consider hiring their own inspector to provide a second opinion on the home. Navigating the inspection process can be a tricky business. If you have any questions or concerns, it is always a good idea to consult a professional.