Buying a home can be very exciting and nerve wrecking at the same time. When you first find that house that you think will be your new home you go through the exciting negotiation and acceptance process. This is just the beginning, the very beginning. Next comes a nerve wrecking part; the home inspection. When you submit a contract, your Realtor will probably have a 10 day option period in there so that you can back out if the inspection comes back unsatisfactory and both parties cannot agree on terms of repair. If this is the case all you will lose is the option period money and cost of inspection. Trust me, this is way better than buying a home full of problems.
My first bit of advice is NEVER buy a home without an inspection. There is only one time that I would pass on an inspection before closing and that is if you are purchasing a new home. Normally, if you purchase a new home from a builder you will have a builder's warranty on the home for the first year. If this is the case, then I would get the inspection done in month 11 so that your builder has a list of all the things in the home that needs repair before the 1 year warranty has expired.
Now, lets set some expectations upfront. You cannot expect a seller to fix every single thing listed on an inspection report. The inspectors job is to point out EVERY deficiency (minor or major) in a home based off CURRENT building codes. If a home was built prior to 1990 it might be fully functioning but fail a number of items on an inspection report since it is not built to the current code. This being said, lets focus on what is most important to the home buyer... the guts.
The guts of a home are comprised of the following:
- Foundation
- Roof
- Plumbing
- Electric (HVAC)
Foundation is a definite deal breaker to me. I would not let my client purchase a home that is cracking in half. There are many things to look for when reviewing an inspectors comments on foundation repairs. First off, if the foundation is marked to be deficient and NOT fulfilling its functional purpose, an engineer needs to be contacted for further review. I would not call a foundation company since they are going to be biased. Your realtor should be able to give you a few engineers to reach out to. Minor cracks in the walls or tiles are not something I would ask the seller to repair, however, if the tile is broken ask the seller if they have any spare tiles so you can replace it yourself. Finding matching tile can be very difficult, if not impossible.
The roof is a big concern because it can be very expensive to fix. More importantly, you might not be able to get the home insured if the roof is damaged. This means you can't get a loan, which means you can't buy the home, but also the seller can't sell it to anyone financing the home. More than likely the seller's have their home insured and will be able and willing to fix this to get the home sold.
Plumbing can be a nightmare and for me a major reason to back out of the contract. Leaks in a home are bad news all around. Active leaks can mean major repairs are needed and even potential mold in the home. I personally would not buy a home with active leaks without a mold inspection being done as well. Water heaters can and should be fixed but missing stoppers are not worth asking for.
It is best to ask for repairs on anything that is material to everyday living in the home. If you can't live without it, fix it. Loose door knobs, paint work, carpet, minor cracks in wall, missing door stops or outlet covers, are not things you should expect the seller to fix. I know they are annoying but they should not make or break the deal. If two or more of the major components of the home are deficient I would consider backing away. Some homes are just not worth the headache.
