home inspection

A home inspection is undertaken after an offer is accepted on a home, and before closing. The purpose of the home inspection is to identify any potential issues with the property before the sale is finalized. A neutral third party, the inspector, should thoroughly examine a property and provide the buyer with a report that indicates what they found. If issues are found, the buyer can  request a reduction in price for the amount of needed repairs, request that repairs be made before the closing, request cash consideration at closing for the repairs, walk away from the sale (if there is an inspection contingency in the contract) or choose to move on without addressing them.