AFTER THE HOUSE INSPECTION… DO I HAVE OPTIONS?

January 19, 2016

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House InspectionAfter being in the real estate industry for more than 28 years, I always advise my clients to obtain a home inspection and make it a Condition in their offer submission.

In addition to a Home Inspection Condition, I advise them to include a Financing Condition, even if they have already been pre-approved.

I want to protect the interests of my clients and inserting those Conditions does just that.

One of the questions I am often asked is: “what happens after the home inspection?”

 

Then the next series of questions they ask are:

  • Do I have options after the inspection?
  • Who pays for any repairs that may be required?
  • Can I walk away from the deal?
  • Do I get my deposit back?

There is a simple answer… you have four (4) options available to you… and here they are!

  1. If the home inspection is satisfactory, then you simply sign a “Waiver” or a “Fulfilment of Condition” document to satisfy the Condition and essentially remove it from the Offer.
  2. If there is a repair or replacement that needs to be done, you can ask the Seller to make the repair or replace the item that needs to be replaced, OR
  3. If you prefer to make the repairs/replacements yourself, you can ask for a price reduction in lieu cost of the repairs you will need to make, OR
  4. You can walk away from the deal. You, along with the Seller sign a “Mutual Release” and get all your deposit back in full.

Please keep in mind the purpose of a home inspection is to identify any major structural damage or repairs that need to be made…. Its not for minor items like a leaky faucet, or paint chipping off the wall, holes left in the walls from pictures, or a light switch that doesn’t work. All homes will have some minor items that Buyer should be aware of… The only time to be concerned with the results of a home inspection is if the shingles need to be replaced, or the furnace is at the end of its life… These are major items that would incur substantial cost to repair/replace.

I am always here to assist and am only a phone call away. Please do not hesitate to call me at any time at 416.717.6331, if you have any questions or require further information. If you prefer to communicate via email, please email me at: gvalvasori@gmail.com.

The first priority is to my clients, to look after their interests, first and foremost. I provide them with all the information they need to make an informed decision.

Remember, when you buy a home with me… you will be working with an experienced, professional, honest and ethical agent who truly cares about her clients. I have many testimonials from clients that I am happy to share with you.

I know my 28+ years of experience can benefit you!

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I live in STREETSVILLE, but work at selling Real Estate in all of Mississauga and surrounding GTA. 

 Are you considering buying or selling, or know someone who is?  Call me for a complimentary evaluation of your home in today’s ever changing market.  (416) 717-6331  I love referrals!

www.gloriavalvasori.com                   gvalvasori@gmail.com

Your STREETSVILLE Real Estate Agent, dedicated to providing outstanding client service to compliment my 28 years of real estate knowledge and expertise.

Gloria J. Valvasori. Sales Representative

BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE

186 Robert Speck Parkway, Mississauga, Ontario L4Z 3G1

(905) 896-4622      Direct:  (416) 717-6331