Yes it is
. It does help to consummate a deal as there may be issues not apparent to either the seller or the agent that may help in the negotiation process. … If a buyer is asking for repairs then an inspection report is send….as far as the appraisal I would never send it to seller with out buyers written approval.
To start, pursuant to 18VAC15-40-140 B.: “The licensee [home inspector] shall not disclose any information concerning the results of the home inspection without the approval of the client for whom the home inspection was performed.” Thus, a home inspector has a duty to keep confidential both the home inspection report …
Are home inspection reports confidential?
No, home inspection reports are not public records. Home inspection reports
are confidential and owned by
the client who hired the home inspector and paid for the home inspection. The client can choose to share (or not share) a copy of the home inspection report with anyone of their choosing.
The seller can ask the buyer to request a new appraisal
. The lender may order a second appraisal. The cost of that second appraisal may be split between buyer and seller if both parties agree. … If the appraisal stands, the seller can choose to renegotiate or consider seller financing of part of the price.
Court decisions in California for decades make it very clear that sellers (and their real estate agent) have
the duty to disclose prior inspection
reports on a listed parcel that are in the possession, custody or control of the seller regardless of who initially paid for the report.
What fixes are mandatory after a home inspection?
- Mold or water damage.
- Pest or wildlife infestation.
- Fire or electrical hazards.
- Toxic or chemical hazards.
- Major structural hazards or building code violations.
- Trip hazards.
What is a red flag on a home inspection?
Potential red flags that can arise during a property home inspection include
evidence of water damage, structural defects, problems with the plumbing or electrical systems
, as well as mold and pest infestations. The presence of one or more of these issues could be a dealbreaker for some buyers.
What happens if seller won’t make repairs?
If the seller does not want to make the repairs,
the deal is off and the buyer gets back the deposit
. Alternatively, if the repairs are above a certain amount, the buyer can exercise the right to withdraw without penalty.
When can I walk away from home inspection?
We’ll say it again:
there’s no hard and fast rule for when to walk away
from a home after an inspection. … A home that needs a lot of repairs may not get appraised at the value of the selling price. In a situation like this, you may have no option but to walk away from the property because the loan will not fund.
Can I use a previous home inspection?
The short answer is yes. The more information that you have about the condition of the
home
, the wiser decision you
can
make about whether to purchase the
home
. Ask the seller and the listing agent, “Has there been a
previous home inspection
?” If the answer is yes, then request a copy of the report.
What is the biggest reason to make your offer contingent on a professional home inspection?
The primary reason why a buyer should make their offer contingent on a home inspection is
to ensure the home does not have any major deficiencies
. It’s almost a guarantee that a home inspector will find issues with every home.
Do sellers usually lower price after appraisal?
Sometimes a seller won’t budge off the contract price, even after
an appraisal comes in below contract
. … That means if you are under contract to purchase a $100,000 home, and the lender will loan up to 80% of the appraised value, you’ll have to come up with $20,000 as a down payment.
Do sellers have to disclose appraisal?
A: An appraisal is generally considered a professional opinion of the market value of a property, not a fact. Although
it’s both legally and ethically necessary to disclose a material fact
, the same requirement doesn’t apply to an opinion.
Why would a seller not want an appraisal?
Why Would A Lender Waive An Appraisal? Lenders rely on in-person appraisals to protect themselves: They want
to make sure they are not lending more money than what a home is worth
. If they do lend too much money, they could face a bigger financial loss should buyers default on their loans.
What things fail a home inspection?
- Problem #1: Rundown roofing. …
- Problem #2: Drainage issues. …
- Problem #3: Faulty foundation. …
- Problem #4: Plumbing problems. …
- Problem #5: Pest infestations. …
- Problem #6: Hidden mold. …
- Problem #7: Failing heating systems. …
- Problem#8: Electrical wiring.
Can you negotiate house price after inspection?
Most likely,
no
. Allow adequate time to commence negotiations in relation to the inspection reports. If you want to negotiate, you need to give the Seller clear instructions about what you want the Seller to do.
