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Suboptimal Home Inspection Reports Are Not the End of the World

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Everything Real Estate in the San Fernando Valley
Wednesday December 30, 2020
Suboptimal Home Inspection Reports Are Not the End of the World

When searching for a home it is good to remember that if something seems too good to be true, it probably is; the home inspection will bring everything into picture. That amazing house, in the perfect neighborhood, that was on sale for significantly less than it could be – that house has something wrong with it. With that said, a bad inspection report is not the end of the world; this article will briefly discuss purchasing a home notwithstanding a sub-optimal inspection report.
As an initial matter, home inspections are not a pass/fail situation; some homes have an easy time making it to market, and others take the scenic route, but all homes can be sold if the buyer has their heart set on it. The issue of course is lenders, who want to protect their investments, that require homes to pass a certain threshold before they will finance the thing.
Given what we know, it makes sense that we would panic when we get a multi-page report listing scores of things that need to be fixed with the house; it would not be absurd to think the house might come crashing down the next time a bird lands on the roof. This is not the case, most details on inspection reports are not major issues; the inspector is just doing his job and pointing out everything that is not perfect. This means, most items on the inspection report are small fixes, which can be addressed in due time.
All of this is not to say ignore the report, since the report can and does identify things that should be deal breakers – no matter how nice the neighborhood is. For example, an electrical system that was installed before the Great War (it would be impressive, since by 1925 only half the homes in the US had electricity) ought to put you high alert. Mold, dilapidated roofs, foundation issues, etc., are major items as well. Ultimately, you are going to think of all the money you could save if you fixed the non-deal-breaker issues yourself; do not do this. Instead, bring the cost of repairs into the sale of the property; you can have the seller fix a problem, you can negotiate a credit or price reduction and pay for the repair, or any other creative solution; the takeaway is that you do not have to pay top-dollar, and shoulder the cost of repairs.
At the Chernov Team we understand that knowledge is power, and knowledge of how to avoid a mental breakdown when you receive a suboptimal inspection report is powerful knowledge indeed. At the Chernov Team we know that whoever comes to the table most prepared leaves with the most, and the Chernov Team always leaves the table with the most.

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