Many Americans still have the dream of moving to a warm, sunny state to buy a vacation home or a new house entirely after retirement.
However, in addition to the numerous hurdles the housing market itself presents, you also face issues like the possibility of a failed home inspection. What can cause this to happen, and how can you avoid it?
Hazards that need immediate repair
EDC discusses ways in which homes and properties can fail inspection. In general, a house does not pass inspection if it is not suitable for purchase without extensive repairs.
Examples of hazards that require repairs can include things like the presence of asbestos or mold. It can include pest problems such as rodent or insect infestations. It may include elements of damage from weather, like leaking roofs or rotted wood. Water damage from poor drainage falls under this category, along with issues with electricity, heating or air conditioning. Finally, structural issues like cracked foundations can count.
What can you do?
Wanting to purchase a home that fails inspection can feel like a huge setback, but there are things you can do. First, you have the right to walk away from the deal and try your luck on the housing market once more.
If you decide to proceed with the purchase, you can work together with the seller to come to an agreement on who will cover the cost of the necessary repairs.
Of course, you will have to deal with a delay of the closing process if you decide to proceed with the repairs. This is just something to keep in mind, especially if you are running on a tight schedule.