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My Home Failed the Building Inspection. Now What?

Oh, no! How could your home possibly fail a home inspection? Especially when you pay very close attention to maintenance!

One step at a time. Take a deep breath and try to relax.

Let’s look at the bright side first.  The good news is that someone wanted your home, and you agreed to a price and terms. The not so good news? Their home inspector gave your home a less than stellar report, and the buyers aren’t so sure that they want to move forward with the purchase. So what do you do?

First, ask for a copy of the report, or the items that specifically need to be addressed. Have you offered to repair/replace items? or assuming that the buyers are still showing interest,  have you offered to give a credit so that they can perform the work after closing?

No need to panic, and don’t despair. This happens, even when you maintain your home. It’s not a reflection on you. Some things are not easily discovered unless its by a professional. At least you are aware what needs to be addressed and can be pro-active, not only to maintain your investment, but if it happens that this buyer backs out because of a failed inspection, then you can handle those repairs so the issue won’t come up with the next buyer.

Another thing to consider is that a nervous buyer that wants out of the deal will use a building inspection to “safely” back out, and save face for not being ready to purchase for one reason or another. Your home may not be in such a state of disrepair after all.

And lastly, remember that a deal breaker for one buyer is not so much of a worry for another.

 

Judy Szablak