You’ve found the perfect Knoxville home for sale. You write an offer. It gets accepted. And now, you feel like the transaction is a done deal.
Then, you do the home inspection, which brings up a whole slew of issues. The electrical wiring isn’t up to code, there’s water in the crawl space, and squirrels have wreaked havoc on the insulation in the attic.
So, what do you do now?
Before you panic, it’s important to know home inspections often reveal issues. Some of these issues can be very small while others can be huge. But, a bad home inspection doesn’t necessarily kill a transaction.
Here are 3 simple ways to handle Knoxville home inspection issues.
One option you have to deal with Knoxville home inspection issues is to come up with a specific list of repairs for the seller to complete prior to closing.
If you choose this option, you’ll want to review your home inspection to see what issues you want to get fixed. Your realtor can assist you in translating what issues may be the most important to fix. In addition, if you have any specific questions about the inspection, you can also contact your inspector for further details, as sometimes a home inspection report can be overwhelming to flip through.
Once you come up with a list of repairs, you’ll submit them to the seller. The seller then can review your repair list and either accept doing the repairs or respond back with what they’re willing to fix. At that point, if you’re happy with what they’re willing to repair you can proceed with closing or you walk away.
If you opt to allow the seller to make the repairs, you’ll be able to inspect them prior to closing to make sure they’re acceptable to you.
Another option you have to handle Knoxville home inspection issues is to ask for a credit.
For some buyers, this is a better option than requesting a specific list of repairs from the seller. When a seller is selling their house, they’re mindset it moving onto the next home. They may not take the repairs as seriously as a buyer would. This is why some buyers prefer a credit at closing.
If you opt to ask for a repair credit, you’ll want to get a few different quotes on each of the repairs that you done, that way you can have an idea of how much to ask for in repair credit. Once you know that, you’ll submit a request to the seller.
At that point, they can either approve what you ask for or counter back what they’re willing to offer. At that point, it’s up to you whether or not you accept.
Finally, if a home inspection reveals dire issues about a Knoxville home, you always have the ability to walk away.
Some inspection issues can be so large that you may opt to walk away. Some of the issues revealed in an inspection may be too large to take on or even if the issues are repaired, you may be leery about the home anyhow.
While it can be heartbreaking to walk away from a home you love due to home inspection issues, it’s usually for the better when this happens. Even if you love a home, it’s not worth taking on a home that will be a money pit.
Are you thinking about buying a home this year? Please let Knoxville Home Team know if there is anyway that we can assist you in your Knoxville home search. Rick can be reached at 865-696-9002 or via email at [email protected]. Kati can be reached at [email protected].
Also, be sure to check out our Knoxville Home Search Page to see what homes are for sale in the area.
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