People looking to purchase a home need to ensure they request a home inspection before the purchase is complete. In addition, many lenders now require this type of inspection before they will finalize the mortgage. When a purchase agreement or contract has been signed, the inspector comes in to do the assessment, and the buyer needs to ensure there is a clause in the agreement stating the sale is contingent on the results of this inspection.
In the event problems are detected, the sale price may be renegotiated or the seller may opt to have the repairs made before the sale is complete. If a seller won’t budge on the price or make the repairs, the buyer then must determine if they are willing to pay the current price and make the repairs themselves or hire someone to do the work. This ensures all parties are able to make an informed decision before the process is complete and the legal transfer of the property takes place.