It doesn't matter if you are the Seller, Buyer (OR real estate Agent), the days leading up to the inspection will naturally causes angst for all involved.
The home inspection contingency is a key component in your MA offer to purchase.
It gives the buyer the right to inspect the home prior to entering into the purchase and sales agreement (at which point they will be putting a larger sum of cash in earnest money deposit), and the right to back out of the transaction if the home inspection turns up major structural or mechanical or unforeseen defects that would effect the buyers decision into moving forward with the purchase.
What happens when the home inspection doesn't turn out how you planned?
- The Buyer can be released from the transaction.
- The Buyer and Seller can renegotate the price and/or terms of the agreement.
- The Seller can fix the problem.
- The Buyer can elect to do nothing and continue on with the home sale.
Tips for Eliminating Home Inspection Anxiety.
If you are a Buyer.
Once you have identified the "right" home, take the time to really look around. Not just at the decor and furnishings. Ask questions. Recognize that there is no "perfect" home. Do not expect a perfect home inspection. It just won't happen. Be ready to identify what is really important to you and what is just part of owning a home.
If you are the Seller.
Have an open mind to the fact that the home inspection may turn up something you didn't anticipate and don't take offense. Anticipate as much as possible and disclose or fix prior to inspection. Make sure there is access to areas that need to be looked at. This will eliminate the "can't see" and therefore unknown. Unknowns always set up red flags in buyers minds and why do that when there is no issue? If you have had your work done, have the paperwork readily available to share.
The "Sellers Description of Property" is a good tool in eliminating some of the unknown that comes with each and every home. Here is the Sellers chance to let the buyer know what improvements have been made to the home and to disclose anything that they buyer would need to know. The more the buyer knows up front the less likely they will be surprised and caught off guard with during the inspection.
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