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Buyers, sellers both have options when inspection finds problems

If you’re selling your house and just had a home inspection, you might wonder if you have to pay for the repairs.. the buyer can ask that the problems be fixed by the seller or have the seller drop the price to make up for the money spent by the buyer to fix the problem.. Some sellers may.

The good news is that you have more options than you might. were intentionally misled by the seller, you can file a lawsuit against a contractor, the previous homeowner, or the company that.

With bidding wars a common occurrence, buyers have been getting more creative to make their offer tempting enough to get the seller’s attention. This includes offering to take on additional costs.

Research state and local assistance programs In addition to federal programs, many states offer assistance programs for first-time home buyers. home inspections and title searches. You can also.

After home inspection, we want out of the purchase. Can we get our earnest money back? If your contract contains an inspection contingency and the applicable deadline hasn’t passed, the seller should return your earnest money deposit.

When problems are discovered, buyers have four basic options: Renegotiate with the seller to have the needed repairs made before the sale closes; ask for a lower sales price so the buyer will have the money to make the repairs after moving in; purchase the property "as is"; or cancel the sale and have their deposit returned.

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3/ It indicates an expandable section or menu, or sometimes previous / next navigation options. We saw nearly a hundred homes, both. sellers could be motivated to close, and if you’re a good buyer.

Both sellers and buyers should have a thorough understanding of home inspection contingencies before agreeing to, and signing the contracts. This is where your real estate professional is an asset-he or she deals with this type of contract contingency regularly and can offer qualified advice on how to proceed.

Most real estate sales contracts include home inspection contingencies-clauses that clearly state both the buyer’s and the seller’s options if problems with the property are discovered during the home inspection.Understanding the inspection contingency clause is crucial because it forms the legal and binding basis for resolving repair issues so the sale can close.

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