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Inspections involve more negotiations
What happens after a home inspection?
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In Colorado (according to Colorado Real Estate Law) a potential home buyer has several options after an inspection. First of all, there is a specific form to use in Colorado, called an 
Inspection Notice. Per the information on this form, a buyer has 2 options after the inspection.
- Terminate the contract – the Colorado home buyer can terminate the contract because of unsatisfactory physical condition
- Notice to correct - the Colorado Springs buyer can ask the seller to correct or resolve unsatisfactory physical conditions of the property
- This can include one item, or as many items as the buyer wants to ask the seller to correct. (But it’s very important to note that this often becomes another negotiation process — as the seller may not want to correct all of them items the buyer has asked for.)
If the buyer and seller don’t come to terms on the inspection items, the contract terminates.
According to Colorado real estate contracts, “Pursuant to § 10.3 of the Contract, if Buyer and Seller have not agreed in writing to a settlement of the above matters on or before the Inspection Resolution Deadline, the Contract will terminate unless Seller receives written notice from Buyer withdrawing this Notice to Correct no later than before expiration of the Inspection Resolution Deadline.”
After the seller receives the inspection notice, the seller then has options on how to respond. The majority of times, the seller counters with items they are willing to get corrected.
The buyer has the option of whether to accept the counter on the inspection items or to reject it. Or the buyer can withdraw their request and proceed with the contract.
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To find out more information about buying a home or an investment property in Colorado Springs area, call ….
Kathy (719-287-1049) KTorline@msn.com
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Preparing your home for a home inspection – Advice for Sellers
Time to get ready for a home inspection
I’m booking yet another home inspection for a client next week, hence the idea for an article about what sellers should do to prepare for the inspection.
To start with, most sellers get a little bit nervous when the home inspection is scheduled. As many people know, a home inspection can make or break your Colorado Springs Real Estate sale.
Although there’s not much that can be done regarding the unknown, there are a few simple tips that can make the home inspection 
process a bit more pleasant:
- Clean up! This may sound simple, but the first thing a seller should remember is that a home inspector’s first impression of your home can create an impression in his or her mind. A clean house, for example, evokes a feeling that the homeowner takes pride in his or her home and that basic maintenance has been taken care of.
- Connections! Leave utilities and water connected, even if the house is vacant. A home inspector will need access to the water, the gas and the electricity to test your home’s appliances, furnace, hot water heater, air conditioner, etc. Read the rest of this entry »
Appraisals and Inspections, 2 important steps for home buyers
The following information is the fifth in a series of Buyer Tips to provide tips for both the first-time home buyer and the most experienced home buyer. The goal is to help the consumer to become better educated about purchasing real estate in Colorado Springs and the surrounding area. This article includes tips #11 through 15.
For a FREE Buyer’s Guide, Email KTorline@msn.com
11. When making an offer to purchase a home, consider any minor repairs or defects when determining your offer 
price. If there are items you wish to be resolved at the time of purchase, include those items on the Purchase Contract.
12. Understand that the appraiser and the inspector are two different people. The appraiser is hired by the lender to determine whether sufficient market value in the property warrants making the requested loan. The home inspector is hired by the homebuyer to conduct a general home inspection, or a more specific inspection for environmental issues, such as lead-based paint, radon, asbestos, mold, etc.
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Home inspectors are NOT licensed in Colorado. and you should choose a home inspector who is a member of the American Society of Home Inspectors (ASHI). (See my previous post: One way to find a good home inspector)
13. Attend the property inspections. A good inspector will show you problems and potential problems with a property, but will also give you tips on how to care for a house.
Colorado Springs Home Inspectors, worth their weight in gold
Home Inspection FAQ’s
Knowledge is Power!
Search for Houses in Colorado Springs
Other Buyer Articles:
- Pre-Qualification or Pre-Approval, which do you need to buy a home?
- Why its great to be a first time home buyer today
- Homes sold “As Is” in Colorado Springs….what does it mean?
What goes Into a Home Inspection:
A home inspection gives the buyer an impartial, physical evaluation of the overall condition of the home and items that need to be repaired or replaced.
Finding a Home Inspector:
Home inspectors are not regulated by any federal government agencies and in most states do not require licensing. Inspectors are not licensed in Colorado, which includes Colorado Springs. It is up to the buyer to ask prospective inspectors questions about their experience and knowledge to make a wise choice on whom to hire. The following are some general guidelines when looking for a home inspector: Read the rest of this entry »
