Questions like who will pay for the repairs in the house you want to buy may arise quite naturally during the negotiation process. This will determine the final price of the house. If the seller does the repair works, it is evident that the price of the house will go up, and, on the other hand, if the buyer pays for them then the price will be depreciated. Based on the rules of the state where you are buying the house, these repairs may either be borne by the seller or absolutely by the buyer. Therefore, it is required to know the prevailing rules as well.
The time taken for inspections
Another common question that may come to your mind is how long it would take to get the home you want to buy inspected. Well, depending on the expertise and repertoire of the inspector, it would typically take two to three hours to complete an inspection of a home. However, the time taken may differ depending on the accessibility, the types of inspections to be made, and even due to the interference by you, your children and pets! If there are no distractions during the home inspection process it will be completed soon enough.
The mandatory fixes
There are some mandatory fixes to a home. When you ask questions to the seller, with or without the help of a realtor, make sure that you speak about the mandatory fixes pointed put by the home inspector. Yes, it is true that according to the standard purchase agreement, the seller is not obligated to make these repairs, there is always a contingency in such agreements that allows the buyers to walk away from the deal if they find any issues in the house during home inspection. Therefore, if the seller does not pay for the mandatory fixes, a potential buyer may be lost.
About the major structural issues
There may also be a few major structural issues in the home found during the inspection. This may lead to home safety issues. These issues should be resolved specifically because the mortgage lenders will need it before they agree to lend you the loan. This means that if you do not get these issues resolved and buy the house with them, you may not get the necessary financing. Talk to experts at Repair Pricer to know the best and most cost-effective way to get these repairs done.
