A critical part to your real estate transaction is the Inspection Objection. This document is called something different in each state, but in Colorado the Inspection Objection is the contingency that protects you, the buyer.
The Inspection Objection is the buyer’s official notice to the seller of items they would like corrected after the home inspection. It is handled through a document called the Inspection Objection Notice that your real estate agent will fill out for you after you discuss.
Do Home Inspectors Tell Buyers What to Ask For?
Our job as home inspectors is to point out any defects that we can find on the home inspection report and guide on the severity in some cases. From there your realtor will help you determine what is reasonable to ask the seller to correct, or give you a credit (or concession) for. How much and what deficiencies you can ask for may depend on:
- The supply & demand of your local real estate market
- The demand for the home you’re buying
- How much the seller is willing to compromise
- How bad you want the property
- The cost of the fixes
If you’re a first time homebuyer be sure to talk to your realtor before the home inspection to set expectations on what you’ll be able to ask for.
The Inspection Resolution
After you describe what is unsatisfactory in your eyes to the seller they usually have a couple days to respond in a document called the Inspection Resolution. This document outlines specifically how they will correct the items they agree should be fixed.
Oftentimes your agent and the seller’s agent will negotiate a dollar amount that the seller will credit you as closing. This amount can be based on actual quotes and bids from contractors, or off published cost information. You are free to do your own research here at places like HomeAdvisor or Homewyse.