Private Home Inspections are routinely requested in today’s Real Estate Transaction. Over the past 10 years the duration, scope and details of these inspections has increased substantially.
The most common question in a Home Seller’s mind is, “What might the Buyers ask for after their inspection?” They may request anything, but there are a few common items.
If you Prepare your home for the Inspection, it may prevent issues before they arise!
It’s important to note the standard Minnesota Purchase Agreement contains language which says, “the seller warrants that Central Air-Conditioning, Heating, Plumbing and Wiring Systems used and located on the property shall be in working order on the date of closing, except as noted in this purchase agreement.” This means if the home need repairs in one of those categories, Buyers will likely ask the Seller to complete or provide payment for those repairs.
The 4 most Common Repairs Requested by Buyers after an Inspection
Furnace Cleaning and Tune Up: Heating systems are on the top of the list!
Electrical Items: such as: faulty ground fault interrupters (GFI), double tapped circuits, exposed wiring or open junction boxes and reverse polarity outlets
Plumbing Leaks: Slow leaks at the water main, corroded valves, improper or missing shut off valves, non-vented plumbing and lack of bath fans/vented to the outside, improper venting and relief valves on Hot Water Heaters
Water Intrusion and Exterior Repairs such as: seepage into basements, inadequate flashing between deck and siding, missing shingles or poorly flashed areas of the roof, plus other exterior repairs like damaged siding, unstable decks, severely heaved concrete and cracked windows
I often describe it for my clients like this, “a purchase agreement with an inspection contingency is still an open negotiation”. Buyers may ask for anything from repairs to a monetary allowance and Sellers may say yes or no to the request. Buyers can walk away from the entire agreement and retain their Earnest Money if they are not satisfied.
For further details, you can Ask me a Question!