just got inspection report... now what? - Zillow Real Estate Advice

Are you working with an agent? This is truly the point where a good agent really earns their keep. What does your contract require the seller to do? The reality is, the contract will control the process.

Essentially in my opinion, the owner should make ALL repairs that you did not know about when you made the offer. The thinking on that is that you offered a certain price on the home thinking that everything was in good repair. However, now you know that there are issues, so the seller either needs to fix the issues or reduce the price to compensate.?

The other reality that many buyers will deal with is the simple fact that if one is borrowing the money to make the purchase, the lender wants to only loan on homes that are in excellent repair. If certain repairs are not made prior to closing, the lender may not lend.?

Source: http://www.zillow.com/advice-thread/just-got-inspection-report-now-what/484338/

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