Your offer was accepted, contracts are signed and now it’s time for the home inspection. The purpose of the home inspection is for the inspector to disclose defects in the property that could materially affect its safety, livability, or resale value. Addressing normal wear and tear isn’t the role of the inspection contingency. Realizing you’re not wild about the paint color or other cosmetic issues aren’t either. And if it was obvious when you first viewed the house and was disclosed to you prior to the inspection, renegotiating the price is off the table.

But sometimes surprises come up - not all the outlets in the kitchen are GFCI, there’s a little wood rot along the door frame. These are minor issues. A home inspector will always point out flaws with the property. That is their job. And EVERY property has flaws. Every. Single. One. Even new construction.

It’s important to review the report carefully. It’s also important to keep in mind what kind of a market you’re in. Were there 23 offers and you had the winning bid? Or was the property sitting on the market for months and you got a deal? Those are all factors to consider when thinking about asking the seller to knock off some money from the purchase price.

And while we’re talking about bidding wars. How can you make a appealing offer when thinking about your terms and the inspection contingency? You can waive it altogether, but for most transactions it’s not advised. You can agree to limit seller repair costs to a specific dollar amount, such as $500. This still allows a buyer to pull out if an inspection uncovers repairs that will cost more than that to fix. Or agree to not ask for repairs unless they exceed $500. This will assure the seller that the buyer won’t be asking for nuisance repairs. A seller who believes the home is in good shape might be inclined to accept this term.

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