Boise Idaho home inspections often cause the “second sale”!
(Example of black mold above)
Because nearly every Boise Idaho home is sold subject to satisfactory results of a home inspection.
You may think your home is in perfect condition, but it’s rare for a home to pass a home inspection without needing some repairs.
When those repairs are identified in the home inspection report, you can expect the buyer to submit an RE-10 Inspection Contingency Notice to you, requesting repairs to be made.
Resolving Home Inspection Issues
Significant repair issues are often handled with the buyer asking the seller to have the repairs completed and provide paid invoices, and/or lien releases, when the work has been completed.
After repairs have been completed, the buyers may elect to have the property re-inspected to confirm that needed repairs have been completed correctly.
Minor repairs are often resolved by having the seller give the buyer a credit toward their closing costs.
In that situation, the buyers often make the needed repairs themselves after closing to ensure that the repairs are completed to their satisfaction.
Major repair issues (like a flooded crawlspace, mold, roof replacement, etc.) can result in a failed transaction.
How Sales Fail
There’s an option in the RE-10 Inspection Contingency Notice that allows the buyer to cancel the transaction if they don’t like the inspection results.
Unfortunately, that provision is sometimes abused by buyers suffering from buyer’s remorse, who then cancel for no inspection issues whatsoever.
If you’re a seller, think twice about refusing to make requested repairs.
If your buyer opts to cancel the transaction, another buyer will likely discover the same issues and request the same repairs.
It’s somewhat rare for a transaction to fail over inspection issues, but it does happen.
That’s why resolving home inspection issues is “the second sale” in most real estate transactions.