What fixes are mandatory after a home inspection is completed? I find that the answer to this question often depends on the type of inspection that was done, what state you live in, and what type of financing you’ll be buying the home with.
If you’re wondering what types of repairs and fixes might be needed after an inspection, then keep reading! I’ll go over what’s deemed mandatory in some cases, as well as what may be able to be repaired with a little TLC after move-in. Furthermore, I’ll share with you how these repairs may affect your offer price if they’re not done before closing.
What repairs are mandatory for a seller to make?
Mandatory fixes can vary depending on where you live, the state of your market, and what lender is involved. For example: Home inspectors look for anything structurally or mechanically deficient, unsafe, not functioning properly or in accordance with a given state’s standards – seven major areas are covered typically.
- Water seepage or damage
- Critical structural issues
- Plumbing problems
- Electrical systems
- Damaged roof in need of repair
- Insect or pest infestation
- HVAC system issues
A home inspection should include checking for required items, such as smoke detectors and carbon monoxide detectors, in addition to the pre-determined problems.
But beyond the state regulations, what is considered “mandatory” is simply going to come down to what a homebuyer’s lender is requiring. FHA, VA, Conventional, or USDA loans all have their own provisions to what’s required, and it’s highly recommended that you speak to your lender to verify what will need to be done, following your inspection.
Failure to do so can cause issues during the appraisal process, and as any real estate agent will tell you, nobody wants to run into trouble at the appraisal stage!
What should a seller fix after a home inspection?
If you’re a seller, and your home has recently undergone a home inspection, you should know what repairs are required before your home goes on the market. The idea is that buyers will feel more peace of mind with their purchase after they’ve been informed about what needs to be done in order to make sure everything is up-to-code.
This also goes for any buyers that have recently had a property inspected, and are trying to determine what fixes are mandatory after a home inspection.
Everybody’s perspective will vary, and like all things in real estate, it depends quite a bit on the general nature of the negotiation. For example, at the time of writing this, the current real estate market is seeing unprecedented numbers of buyers waiving their inspections entirely due to the hyper-competitive nature of the market.
But as a general rule, taking care of items that relate to water damage or roofing trouble will go a long way in alleviating buyer anxiety about purchasing a home.
There is also an alternative school of thought that you should take care of as many small items as possible, so that when a buyer performs an inspection (or reviews a seller’s report, with the seller’s permission), the repair list doesn’t wind up with 10 red flags on it.
While sometimes the issues are quite small, the raw number of issues found on an inspection can add to the anxiety a buyer feels during a transaction. If that’s not kept in appropriate check, it could put the transaction into jeopardy.
Home inspection negotiations need to involve compromise
Depending on the needs identified in your home inspection, you might feel like an obstacle or several have been placed into your path as a potential seller of your home. But these home repair and fix costs don’t always need to be an “all or nothing” proposition.
Both buyer and sellers will have to understand which repairs represent the best value in terms of filling any holes, replacing anything that’s dangerously old or poorly made, and updating any outdated fixtures.
Making a Sound Choice for your Home Inspection
At Sound Choice Home Inspections, I commit myself to providing you with the utmost peace of mind that I possibly can.
You can rest confidently that after reviewing the inspection report, you’ll have every critical piece of information that you need in order to make the best decision moving forward.
If you’re looking to schedule an inspection, I am here to help. I have nearly 10 years of experience inspecting homes in the Pacific Northwest and am happy to assist. Click here to get in touch.