Buying a home is a big move, and perhaps the biggest step in the whole process is getting through the home inspection. The final report of a home inspector is detrimental for both the buyer and the seller before closing the deal. However, what comes after is a dilemma that confuses many: who pays for the repairs? This question had led to countless disputes and sometimes even failed purchases. So, let’s finally unravel the mystery of the liability of repairs after an inspection.
Ideally, a home inspection should be scheduled as early in the deal as possible. This allows enough time to negotiate the repairs and take care of them. When it comes to hiring a home inspector Ottawa buyers have the responsibility. During the inspection, a seller should leave the buyer and inspector alone at the home so they can discuss the house openly.
When it comes to deciding who pays for the repairs suggested by a home inspector, there are three deciding factors. They are the offer contract, types of repairs, and local laws.
1. Offer Contract
When the buyer and seller enter into a sales contract, there are some deal-breakers; repairs that can potentially allow either one to cancel the sale. Buyers can list categories of repairs that sellers will need to take care of or vice versa to complete the deal. However, some buyers may offer to buy the house as-is, which means that sellers are not obligated to do any repairs requested.
2. Types of Repairs
The type of repairs also decides who will pay for them. Minor, cosmetic problems like a failed window seal or nicked tile are better-taken care by the buyer. You shouldn’t request these repairs from the seller. However, when it comes to major issues like cracked basement walls or something the seller knew beforehand, sellers need to step up and pay.
3. Local Laws
Specific countries and areas have their laws that sometimes determine which repairs need to be done by the sellers and which not. Real estate agents of both sides will fill each of the parties involved in the same. Regardless of the specific laws, in general, sellers are responsible for taking care of severe repairs like water damage or mold.
Conclusion
The relationship between a buyer and a seller is vulnerable to disputes over who pays for what and the old-school blame game. However, with some pre-planning and good negotiation skills, the process of buying a house can be conflict-free and smooth. As such, when creating a contract, both parties must take great care with the addition of clauses. Doing so prevents any misunderstanding in the future.
Caitlyn Bell is an Arts student whose experiences in life make her really tougher than anyone else. She can lend you expert tips on diverse topics ranging from relationship to fashion, making money, health and so on.