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There are a lot of questions and misconceptions associated with the home inspection process. So, today, I’d like to bring some clarity to the subject by addressing three key questions:
1. Who pays for the home inspection? While this is technically up for negotiation, it is most often the buyer’s responsibility to shoulder this expense. This cost will typically amount to around $375, but the actual figure will depend on the square footage of the home and whether or not there are any outbuildings on the property. There may also be additional expenses if the buyer chooses to order any specialty inspections.
2. Does the home inspection have to pass in order for the buyers to get financing? Actually, no. The inspection is designed to give buyers peace of mind, and to identify any issues that may interfere with the appraisal.
3. Does everything need to be addressed or repaired by the seller? No. The buyer should only ask the seller to cover repairs related to structural soundness, sanitation, or safety, or those that may impact financing.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.