After having a home inspection completed, the potential buyer will receive a home inspection report. This report will not only alert you to concerning issues with a property before it is purchased, but can also give you a competitive edge that can be used to renegotiate with the seller.
What is the best advice when a buyer receives a troubling home inspection report?
The first thing you need to do if your home inspector finds major problems with the property is to seriously reconsider if you really want to continue the purchasing process. Ask yourself, “Do I still want to purchase this property even though it has, for example, $30,000 worth of repairs?”
If yes, and if you don’t already have one overseeing your purchase, you should contact a real estate attorney to discuss renegotiating the purchase price, in an effort to obtain a better deal on the property. Seasoned real estate attorneys may be able to encourage the owner to drop the price, sometimes significantly!
Whether a transaction of yours now includes an unforeseen troublesome inspection report like we are describing above, or if you are involved in a general purchase and sale transaction, our office can assist in protecting the rights and interests of both buyers and sellers.
Please contact us, your local real estate attorney in Royal Palm Beach for more information on this and any other concern regarding closings and real estate law.
The Law Office of Donna Hearne-Gousse