Home inspection reports can serve as invaluable tools during the home buying negotiations process. It’s why an overwhelming 77% of potential buyers pay for inspections prior to closing the deal.
Depending on the extent of an issue, a buyer may request — or a seller may offer — a credit on the home. This means that the seller will lower the price so the buyers can make the repair themselves. Buyers may also request that the seller hire a contractor to fix the issue or permit the seller to let the issue be. While it’s okay to exercise your rights to contingencies when buying a home, you should know what battles are worth picking, and which you should let be.
If an inspection report reveals mold damage, a cracked foundation or faulty electrical wiring, by all means, ask the seller to fix the issue or offer a credit. However, if the laminate flooring is peeling and a few doors won’t shut, be reasonable. Minor issues may bother you, but there are plenty of other potential buyers out there who won’t blink an eye at them.
