So what can I expect from the inspection report? The report should be multiple pages long with images and descriptions of all items inspected. It will simply diagnose items, rather than propose quotes and solutions.
In the report, inspectors flag anything and everything that doesn’t meet their industry standards or guidelines, from minor or cosmetic items that don’t actually require immediate attention all the way up to major structural issues and safety concerns. Inspection reports will often comment on the location or function of items for informational purposes as well.
Keep in mind that the inspector’s guidelines will likely be more intensive than the city’s building codes or even your own expectations of a home’s condition. Sometimes inspectors will include quick notes of recommendations for repair, however, it is not recommended to rely solely on the inspector's recommendations at face value. In order to obtain an accurate quote for repairs and project proposals, it is best to utilize a local vendor or contractor specializing in your item of concern.
The inspection report is typically delivered within a week which may give you some time to gather a repair quote from a contractor if needed.
There are a couple options moving forward. If nothing extremely concerning comes up, you can notify the sellers that you’re moving forward as-is, congrats! If your inspection contingency allows for repairs, you can request that the seller provides an appropriate repair credit at closing or that they complete repairs prior to closing. If you negotiate a seller credit, it’s in your best interest to provide the seller with a quote to ensure that your dollar amount is reliable. If you agree on seller repairs, ensure that you see proof of repairs and/or vendor receipts before closing to ensure they were taken care of. If there’s an item too concerning to move forward with the purchase, so long as you’re still within your inspection period, you can terminate the contract and receive an earnest money refund. Ask your Realtor for deal-specific questions.