Once we are under contract, the next crucial step is to schedule a home inspection. This inspection will give you a complete understanding of the home’s condition before finalizing the purchase.

 

It's essential that your inspector is both prompt and thorough, as the inspection must be completed during the due diligence period, leaving us with limited time. We recommend inspectors who deliver their reports on the same day, which helps keep the process moving smoothly. A good inspector will focus on the major systems like the roof, HVAC, and electrical, but they should also pay attention to smaller repairs. Minor issues can add up quickly and potentially lead to significant expenses down the road.

 

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If the home inspection uncovers any significant issues, such as structural damage, electrical problems, or plumbing concerns, buyers have the opportunity to address these problems before proceeding with the purchase. This typically involves negotiating with the seller to either make necessary repairs or adjust the price of the home to account for the cost of repairs. In some cases, the seller may offer a credit at closing, allowing the buyer to handle the repairs after the purchase.

 

If the issues revealed during the inspection are extensive and the buyer and seller cannot reach an agreement, the buyer also has the option to cancel the contract. Most purchase agreements include an inspection contingency, which allows the buyer to walk away from the deal without penalty if the inspection reveals major problems that weren't previously disclosed.

 

This process provides buyers with a safeguard, ensuring that they do not proceed with the purchase of a home that may have hidden defects, protecting their investment.