Steps to
Buying a Home

 




Renogiate or Withdraw

The purchase agreement . . . will have specified a time frame within which you agree to conduct all inspections and transmit your response to the seller. That response should be in writing. I'll usually prepare a draft for your signature.

If the test and inspection results are satisfactory . . . and no repairs are needed, we simply advise the seller that we intend to proceed with the transaction. If it turns out that there are major defects that we did not notice before formulating our offer, you may decide to withdraw the offer and look for another house. Again, you may do this without any penalty or loss of your deposit.

Most houses fall somewhere between perfection and ruin . . . there are usually some issues that need to be addressed. These may range from minor defects like a stair tread that should be replaced or some windows that are painted shut to potential correctible dealbreakers like an underground fuel tank or a roof that needs immediate replacement. Our approach to these issues should be guided by your enthusiasm for the property, our knowledge of the seller's situation and flexibility and the severity of the problem(s).

Major items with environmental impact . . . like an underground storage tank or a failing septic system should be corrected by the seller at the seller's expense prior to closing. Once such items have been discovered, even if you walk away, the seller won't be able to sell the property to anyone until they've been corrected.

All components and systems . . . that are essential to the functioning of the house should be in working order.

A leaking roof should be repaired, a leaking basement should be sealed, a broken dishwasher should be fixed as should light switches, electrical outlets or circuit breakers that don't work properly.

If you're willing to have the seller make these repairs . . . we'll ask that this be done prior to closing.

If you prefer to have control of the repairs, or if the seller prefers not to perform the work directly, we can ask that the price of the home be adjusted to cover your cost.

It's possible to add a "hold harmless" clause to the contract that allows the work to be done by your contractor prior to closing.
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