Often the home inspection is the last thing done before officially buying a home. The sale is typically dependent on the home inspection turning up major problems. However, if the home inspection did turn up a major issue, is the seller required to fix it?
Unfortunately, a home inspection is by no means a legally binding document. It merely states that there is a major problem. The seller of the home can commit to fixing that problem or the buyer has the right to back out. There is nothing in a home inspection that states major problems must be repaired, that negotiation comes after the inspection.
Major Issues That Need to be Fixed After an Inspection
A home with major issues after an inspection can still technically be sold, but it will just be excessively hard to find buyers for it without lowering the price a lot. You can expect that if you turn up any of these major issues, you will need to fix them before selling the property.
- Mold and water damage
- Pest infestations
- Electrical hazards
- Chemical hazards
- Roof damage
- Foundation damage
Essentially, if it makes the home unsafe to live in, presents a structural hazard, or will be very expensive to fix, you will need to repair it before you will be able to sell it at a reasonable price. In some cases, even if a buyer is willing to buy a home with problems, the bank may even deny financing until the problem is fixed, though this depends on the issue.
If you are buying a home, it is important to know the above major issues because some minor issues may not necessarily be worth walking away from a home you love. For example, a broken appliance can be a deal breaker, but it is not necessarily the most expensive thing to replace. In cases of minor issues turned up on the inspection, often you can negotiate with the buyer to see if and what they will pay to fix.