South Florida residents who are familiar with previous posts here know that there are quite a few details to take care of throughout the course of a real estate transaction. There is no shortage of information that is available to help those who are involved in a real estate sale -- either as a prospective buyer or seller -- so it is important to take care of each detail on a step-by-step basis. However, there is one step in the process that can be overlooked as minor or "routine" -- the home inspection.
Can a home inspection make a real estate sale fall through completely? That was the topic of a recent article, when one potential homebuyer noted how several nearly-completed deals he was involved in had fallen through due to defects in the homes that were uncovered during the home inspection phase of the process.
But, is every little problem with a home a potential deal-breaker? Not necessarily. In fact, in many cases a home inspection of an existing home will indeed uncover some "bumps and bruises" in the home. How much of a problem those issues become is typically a matter of negotiation between the buyer and the seller.
For South Florida residents who are dealing with problem issues that popped up in the home inspection phase of a real estate deal, it may be possible to negotiate fixes or concessions in the terms of sale in the real estate contract. If the problem is big enough, other prospective buyers may issue an ultimatum to the seller: fix the problem or we pull out of the deal.
Source: tucson.com, "Home inspections a wise idea but is an expense," Rosie Romero, Jan. 25, 2016