What is a buyer typically entitled to if they find significant issues during an inspection?

A buyer is typically entitled to a credit for repairs from the seller if they uncover significant issues during a thorough inspection of the property. This practice is grounded in the principle of negotiating post-inspection contingencies, which allow buyers and sellers to address any substantial defects or required repairs that may not have been disclosed before the sale.

Typically, after the inspection, the buyer can present the findings to the seller and request that the seller either complete the repairs before closing or provide a financial credit at closing to cover the cost of repairs. This serves to protect the buyer's investment and address any unforeseen expenses that might arise from problems that were not initially visible.

In many cases, the credit for repairs is preferred as it allows the buyer more flexibility in addressing the issues according to their own preferences or timelines. Furthermore, it can facilitate a smoother transaction overall, as both parties might prefer to avoid potential revisions to contract terms and seek a mutually agreeable solution. Thus, it recognizes the importance of transparency and fairness in real estate transactions following inspections.