If you’re selling your home, you might be concerned about common repairs needed after a home inspection. After all, despite it still being largely a seller’s market, most buyers won’t commit to purchasing a place until there’s been a thorough inspection by a home inspector.
So, if your home inspection turns up flaws that your homebuyer wants fixed, what then? To be sure, repair requests after an inspection are a hassle—and liable to cut into your profits, if you’re on the hook to pay for them yourself.
To know what you, as the seller, are responsible for, the first step is to read your inspection contract carefully.
As a seller, you should never sign an inspection contract until you fully understand its obligations, particularly where it concerns your responsibility for fixing things. With inspection contracts, there are some standards that are usually agreed upon, especially when it comes to a seller’s responsibility.
What Fixes Are Mandatory After A Home Inspection
To begin, understand that a home inspection report is not a to-do list; there’s no need for you to fix everything a home inspector thinks could stand for improvement.
Inspection repairs fall into three categories: fixes that are pretty much required, according to the inspector; fixes that typically aren’t required; and fixes that are up for debate.
Structural Damage
Certain repairs that will be required by lenders before they will release funds to finance a buyer’s home purchase address costly structural defects, building code violations, or safety issues.
This includes issues in the attic, crawl spaces, and basement, as well as the chimney and, of course, the foundation.
Heating And Cooling Elements
An inspector will also check whether your septic system, furnace, and heater are in good condition and verify if there’s a possible radon leak or the presence of termites (homeowners tend to have many questions on these topics). Other conditions of the home that an inspector may report on include those related to the roof, electrical systems, plumbing lines, and the condition of your HVAC system.
If a home inspection reveals such problems, odds are you’re responsible for fixing them. Start by getting some bids from contractors to see how much the work will cost. From there, you can fix these problems or—the more expedient route—offer the buyers a credit so they can pay for the fixes themselves. This might be preferable, as you won’t have to oversee the process; you can move out and move on with your life.
Home Inspection Repairs That Aren’t Required
Cosmetic issues or issues of normal wear and tear that are found by the inspector usually do not have to be fixed by the seller.
Some inspection contracts will expressly state that the buyers cannot request any cosmetic fixes to be made and can only ask that structural defects, building code violations, or safety issues be addressed. Furthermore, state laws may also impact your liability as a seller for any issues uncovered during an inspection.
Be sure to check your local ordinances to know which issues that are found during an inspection legally fall within the seller’s realm of responsibility.
Courtesy of Realtor.com