If there is ever a good time to have the support of one of our real estate agents behind you, it's when you get the inspection report. Normally, you'll get it after you've put down a deposit and have opened the escrow. When it comes back with bad news, the knowledge and experience your agent have are essential. 

You'll have to make quick decisions about how to deal with the results of the inspection. If you're like many, you may feel you need more information to make a solid decision about the defect. Besides the deadline, there could be a lot at stake with some of the problems that the home inspection reveals. Your real estate agent has the experience to identify the items that will be easy to fix and those that require a pro and a good deal of money. 

• Identify Your Strengths Beforehand
  Decide where you fall on the do-it-yourself scale and let your REALTOR® know. While you won't know the extent of repairs a home will need before the formal inspection, you can avoid those properties that will need more TLC than you're willing to give. 
  
  
• Defects and Mortgages
  If you need a mortgage, the bank will have the final say on the house. If it has serious problems that affect its integrity, chances are, they won't approve a mortgage unless a professional, licensed contractor fixes it. 
  
  
• Using Defects to Your Advantage
  Unless you're in a bidding war, you can use the home inspection report to your advantage. If you're willing to accept the home in its present condition, ask the seller to reduce the asking price. If the repair is beyond your capacity, or the bank won't lend until it's fixed, insist that the seller repair or replace. 
  
  You might also find yourself in a position where a bad inspection report is actually good news. If you're having remorse about a home you put under contract, you might be eligible for an earnest money refund. Your agent can clarify this provision in the contract for you. 

General Guidelines

Unless it's the perfect house for you, walking away might be the best option if there are:

• Water leaks beneath the swimming pool or other big swimming pool issue
• Wood rot from water leaks in the walls or attic
• Extensive termite damage
• Large cracks in the concrete or exterior envelope resulting from soil or foundation problems

Moderately serious problems include:

• Roofing issues
• Water heater leaks
• Heating and air conditioning system replacement versus repairs
• Serious wiring and plumbing problems 

Minor problems like interior paint condition or shrinking caulk around the windows are easy to address and shouldn't affect the livability of the home, although the seller should fix the problem or lower the price. 

Bottom Line

Unless the seller has taken exceptional care of the home or completed the repairs it needed beforehand, it's common to find a few defects in the home inspection report. Our real estate agents are there to help you understand what your best options are. If you'd like more information, please contact Wardley Real Estate, serving the Las Vegas area.