“Hello Gary. My wife and I just got married and we’re planning to buy our first home and I have a question. What happens if a house fails a home inspection?”
***ANSWER:
Home inspectors don’t pass/fail a home. They inspect it, describe its condition, and indicate what needs attention.
If your inspector finds items that need attention, go through the list and pick those most important to you. Then ask the seller to make repairs or credit you funds in lieu of repair.
Sellers are only required to do items agreed in the contract and to comply with two laws: 1) operative smoke detectors in all sleeping areas, 2) properly strapped water heater.
If you can’t reach agreement, you can cancel the sale and have your deposit returned to you (provided you have not released your “inspection and investigation” contingency.)
Remember, no home is perfect, not even a newly-built one. So if the items aren’t overwhelming, go ahead and close your purchase, and address the other items after closing.
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