A home inspection can lead to a discovery of major problems such as the presence of mold, a bad roof, inadequate electrical or plumbing systems, or a host of other major defects. A major defect is a problem that must be repaired for the safety of the home and its inhabitants.
When major problems are discovered during a home inspection, what happens next?
First, the buyer can request the seller to fix the problem. Then, the seller can agree or decline to fix the problem. If the seller agrees to fix the problem, then things should go smoothly. If the seller declines to fix the problem, the buyer can rescind the offer AND he is entitled to have his earnest money returned. However, if the buyer is going to get a great deal on the home, he may want to make the repairs on his own dime after the closing. (Note: Never make a repair with your own money before closing!)
When major defects are uncovered the seller does not have to make the repairs. However, unlike Las Vegas, what happens at the home inspection does not stay at the home inspection. If the seller keeps the home on the market, he must note the major defect on the sales disclosure form.
In my opinion, the seller should go ahead and make the repair because the next prospective buyer will ask for the repair to be made as a condition of purchase.
Whether you are buying a home on the west side of Indianapolis in a community such as Brownsburg, Avon or Danville, or if you’re looking at the north side of Indy in places like Zionsville or Carmel, you should absolutely find a good inspector to uncover any major defects in the home you are looking to purchase. For advice on selecting a quality inspector, see my last blog post.
If I can be of help, just give me a call!