How Do You Use Home Inspection Reports To Negotiate The Price Of A Home?
When you get the inspection report back on a home you’re looking to buy, you may be able to use that report to negotiate the price. Be sure your purchase contract includes an inspection clause that makes your obligation to purchase the home dependent on the results of a professional home inspection performed within a stated period of time (usually 10 to 15 days) during the sales transaction. Hire a professional home inspector to inspect the home within the contingency period. Review the condition of each item listed on the home inspection report; decide if the condition of each item or component is acceptable or unacceptable to you. Obtain estimates on repairs or replacements described in the home inspection report if estimates are not provided by the home inspector. Compare your original offer to the estimated costs of any repairs or replacements. Present an addendum to the sellers within the contingency period at a reduced price to cover the costs of repairs or replacements or give t
