After a contract is negotiated and accepted by the buyer and seller, the next step is having a home inspection. This can bring up lots of items that need attention, even though most of the time, they are minor.
The due diligence period in sales contracts for homes in Athens is usually 10-14 days. This may be negotiated between the seller and buyer. During this period, a buyer can terminate the accepted sales contract for any reason. The home inspection and any other inspections (neighborhood, school district, traffic, neighbors, property boundaries) should be completed. If for any reason, a buyer is not satisfied, they have the right to terminate the contract. The seller does not have the right to terminate but may refuse to make repairs or offer any concessions.
As a buyer, it can cause concern if a seller hasn’t done a good job on repairs, discovered during the inspection. Should you ask them to fix the problem or are you worried that you can’t trust the work? There are a couple of ways to resolve this concern:
- The “Amendment to Address Concerns with Inspection” form is to request repairs be made by the seller. This can state “repairs to be made by a qualified electrician, plumber, contractor, etc.”
- Instead of asking the owner to make repairs, many buyers will request is to have money paid toward their closing costs. This is a way for a buyer to save for the repairs, without asking for money. Sometimes if there is a repair requested, the lender will want verification that it’s done before closing. If it’s a major repair, this should definitely be addressed but for smaller repairs, having some closing costs paid will allow the buyer to have money to make the repairs.
We always recommend having a home inspection when buying a home. That way, you know what’s needed, even if you don’t ask the seller to make repairs.