Home buyers are often confused about home construction and its components, and have difficulty understanding such inspection reports. Many don't know how to figure out which types of defects are serious or whether their home inspector checked all the essentials.
Home Inspection Checklist Comparisons: All home inspections are different and can vary dramatically from state to state, as well as across counties and cities. Much depends on the home inspector and which association, if any, to which the home inspector belongs.
Indiana Buyer's Property Inspection Report
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How to fill out Buyer's Property Inspection Report?
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FAQ
A real estate sales disclosure form is a checklist style document that Indiana law requires most sellers complete prior to closing on the property. This purpose of this document is to allow the seller an opportunity to disclose any known facts about the property and its condition.
10 tips for how to have a good negotiation after a home inspectionReview the report with your real estate agent.Prioritize repairs by cost and severity.Don't sweat the small stuff.Request concessions for major items.Get quotes from contractors.Take the market into consideration.Know what as-is means.More items...
Your Options After a Home InspectionAsk the seller to make the repairs themselves.Ask for credits toward your closing costs.Ask the seller to reduce the sales price to make up for the repairs.Back out of the transaction (if you have an inspection contingency in place)Move forward with the deal.
Indiana law (IC 32-21-5) generally requires sellers of 1-4 unit residential property to complete this form regarding the known physical condition of the property. An owner must complete and sign the disclosure form and submit the form to a prospective buyer before an offer is accepted for the sale of the real estate.
How Should I Respond to the Inspection Report?#1. Accept the inspection as is.#2. Reject the inspection.#3. Accept the inspection with certain contingencies.#4. Ask for money off.Accept or reject some or all of the terms from the buyer.More Tips for Buying and Selling Real Estate.
You want to write clearly and in simple, plain language to get to the heart of what it is you want done. Let the inspection report do the talking. Quote items in the inspection report and give reference numbers for pages or sections of the report where the item appears. Let the inspector's words inform what needs done.
Indiana Courts generally apply the rule of caveat emptor, or buyer beware, in connection with sales of residential real estate.
2. Four sections are included in a well-written inspection report. Title page or cover memo summarizing date, subject, recipients, purpose, participants, description of activity and other basic information.
In general, a disclosure document is supposed to provide details about a property's condition that might negatively affect its value. Sellers who willfully conceal information can be sued and potentially convicted of a crime. Selling a property "As Is" will usually not exempt a seller from disclosures.