The buyer has the right to do an inspection on your house to make sure the home meets their standards and is in safe and satisfactory condition. Usually within seven days, there will be an inspection on your house. It is advised that you leave the home during this inspection.There are several different types of inspection.
There is a general home inspection where the inspector checks out the whole house. There is also an inspection for specialty items, such as radon, termites, well and septic, sewer and engineering. The buyers have the right to terminate the contract if the inspection does not meet their standards. A buyer can also write up an Inspection Objection. The inspection objection requests that certain items be fixed before the buyer will pursue purchasing your home. If this happens, we go back into negotiations regarding these items. We do our best to find out which items are most important to the buyers. The last thing we want is for the buyer to terminate the contract because we cannot come to a resolution on this issue. If you do not have money to fix the repairs, a contractor can do the repairs and be paid at closing. Another option is to reduce the purchase price. Once we get to a resolution on the inspection, we draft up an Inspection Resolution.
If you agreed to make repairs to the property, these repairs will need to be done no later than two days prior to closing. We will also need to provide receipts to the buyer to show the work was completed.