(2) Accept the property with a condition that certain item(s) be taken care of in order to continue with the sale. Sometimes, the items on the buyer’s “punch list” may exceed the liability as negotiated in the contract. If this happens, then you have a right to negotiate only to do your share, or you may elect to do all the repairs, especially if they are repairs that would need to be done anyway just to sell your home. Sometimes, items might be listed that are not normally the seller’s responsibility, such as cosmetic items. (3) The buyer may ask for credit towards some repairs or adjustment on the purchase price. (4) The buyer may elect to terminate the agreement because of the inspection results. The buyer has that right if the inspection contingency clause was used. In most cases, some negotiating will go on after the inspection report is submitted. In some cases, the inspector may state that something is not working properly, when, in fact, it is. You have the right to hire your own professional to dispute the home inspector’s findings. Sometimes, the home inspector states that there is a possible problem and recommends that a professional be consulted (heating/AC, roofers, etc.). In this case, the buyer may schedule additional inspections to have the heating/AC or roof checked by a professional. All inspection reports must be disclosed to all future potential buyers. This is the law.
5. Appraisal:
If your contract has an appraisal contingency or loan
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