Inspection came back, NOW what?

Question

Hello all, we are in the process of purchasing our first home. Its a 2 family built in 1874, asking price was 549k, we offered 551k. The owner lived there for 33 years and took decent care of it. We just received a copy of the home inspection and it says that 3 shingles on the roof are missing. Should I request that the owner pay to get a roof inspector on the job or is that overreacting? Also, there were signs of termite damage, the owner says that it was from the previous owner and that it has been inspected and is not a problem. We asked to see a receipt that the termites were taken care of. This is the biggest purchase of our lives, I do not want to make a mistake here. Any advice would be very helpful. Looking forward to hearing from you.............

Anthony Wick · Answer

@Petya Toncheva. I would say it's up to you to get any and all inspections done during the due diligence period. And I would absolutely get a roof inspector and a termine inspection done, at your cost. Then, if there is a problem, you can ask the seller to pay for all or some of the needed repairs. And they, in turn, can say yes, no, or negotiate. It is what the due diligence period is all about. If you choose to not get the proper inspections done during this time, that is not the sellers problem.

Theresa Harris · Answer

@Petya Toncheva  The missing shingles is minor and you can have it done yourself.  I'm assuming the roof itself is in good condition.  As for termites, were there any signs of active termites and how extensive was the damage?  Have a termite inspector go and look at the place. It might cost you a few hundred dollars, but will put your mind at ease.

Petya Toncheva · Answer

Thank you @Shannon Hutchinson and @Daniel Kim for the feedback! It was very helpful.

Shannon Hutchinson · Answer

@Petya Toncheva

As the daughter of a home inspector from the Midwest, i can tell you that it is your job to hire the specific inspections you will need for those specific areas to further review the findings and gather more information. These can be costly repairs if there is more damage than what you can see. Do not be afraid to ask the seller for their evidence, however do not use their word as fact. Take all of this information once gathered and go back to the table in negotiations.

Your real estate agent should be versed in this stage and should be advocating for you when going back to the table with the seller. Do remember that they can fix, take the price down (this one is better as you want your own person to fix it), or just say no to any fixes. You will need to decide if it is worth it to you to continue.

Great inspections now can save you tens of thousands later. Also, if the seller is responsible in fixing anything, do a walk through before closing.

Daniel Kim · Answer

First off congratulations on getting your offer accepted. Hope you have a good buyers agent who is guiding you through the process patiently and you are here for second opinions.

I know absolutely nothing about buying in New York so my opinions may mean nothing lol... Honestly where I live, if the buyer is worried something that comes up in the inspection, the buyer would have to pay for a more specific inspection. As a seller I would be like, why would I pay money for something I'm not curious about, it will probably just show more things wrong with the home any way... So if the roof worries you I would pay for the roof inspection and then show that inspection to support any request for a credit to the seller.

In my state, every mortgage lender I ever used made me get a termite inspection. The seller had to pay for it but that may not be the case in New York so hopefully he shows you that report/receipt/calls the company for a copy. I do remember back in real estate school the instructor saying that pretty much every house has some termite damage.

I remember I was so afraid to ask sellers to repair things or give back a credit. Now that I look back, what's the worst thing that can happen - they'll say no. Yes, probably roll their eyes about this first-time homebuyer worrying about every little thing but who cares, you are not here to make friends lol... Hopefully your agent will be a bit aggressive in your request for repairs and see how the seller responds.

Best wishes on the purchase and let us know how it goes!

Glenn Levy · Answer

Every buyer is different when it comes to the items noted in their inspection report and how they react. I would suggest going through the entire report and prioritizing everything from highest to lowest concern and decide from that list what you want to go back to the seller with based on what's most important to you. Certainly the roof and possible termite damage are big concerns and I definitely would not just take a seller's word that everything is ok. Get a dated receipt that the house was treated for termites. Unfortunately, without opening walls you never know the extent of possible termite damage. Some follow up should be done with the roof as well. Don't be scared to ask the seller to fix many of the things on the inspection report. I get lists from buyer's all the time and I fix some items myself, issue credits back on others for the buyer to deal with after they own the house and just say no to certain items. The bottom line is, don't be afraid to bring the issues up. Your higher priority items will usually end up getting fixed by the seller or getting you credits at closing.