Though most inspections are not technically pass-fail, when your pest, property and roof inspections collectively come out either terrific or tragically terrible, the decision to proceed or back out can come easy.   Similarly, when you get the place at a discount because it had negative inspection findings are much easier to swallow.  When you get surprising inspection results that are not automatic deal-killers, but still bad — relative to the price and age of the property and to your threshold and skill level for doing repairs — things are not quite so simple.

When these findings come down the pipeline panic may set in. Add the disappointment that you might lose your dream home with a little dash of desperation to find solutions. Can the sellers come up with that cash? If you buy it, where will you come up with the repair money? Lots of questions, fewer immediate answers and even less time to figure it all out.

DON’T FEAK OUT!! Instead, get systematic and take the following steps to gather all the information you’ll need to make a reasoned, deliberate decision about whether to buy or back out when you get bad inspection results.

Have your Realtor request an extension of your contingency or objection period to take some of the pressure off while you collect more information. Most all contractors will provide free estimates for the repairs and let the bargaining process unfold.  After all this is over you should be assured you took the proper steps to make sure you made a educated real estate decision