Ah, at last. The home inspection on your new Highland Park home is completed and you have just received the engineer’s report. You settle down together, glass of wine in hand, and get ready to read about all of the wonderful things your Licensed Professional Engineer Home Inspector has to say about your dream Highland Park home.
But wait. What’s this? Cracks in the foundation? Bowed basement walls? The hot water heater is on its last leg? This couldn’t be OUR house, could it? The truth is that even the seemingly perfect houses have a few cobwebs in their closets. This is not the time to despair, however, because there are options available to you.
Create a List and Negotiate Repairs
After you have thoroughly read the engineer’s report, your Realtor will likely ask you to write down the issues that you want to see addressed by the sellers. The sellers will then have an opportunity to read over your list and respond with their own list of things they will and will not cover.
It’s at this point that the negotiations begin. The seller may choose to take care of some of the issues themselves, or they may adjust the sale price or the contract terms to account for repair costs. This may also be the moment you decide to walk away from the home, should the damage be too costly or involved or should the sellers be inflexible.
Protecting Your Investment
Regardless of what is, or isn’t, found during your home inspection, the engineer’s report will provide you with a clear picture of your home and will prevent any unwelcomed surprises after you have closed and settled in.
Bottom line: a thorough home inspection can save you thousands of dollars and years of heartache and stress!
