Mortgage lenders, for example, will require an inspection for wood-destroying insects. Other inspections may be required by state, county, or local regulation. Your contract also gives you the option to have additional inspections conducted, as indicated in the contract. Other than those government mandated and the responsibility of the seller, these inspections are paid for by the buyer and must be done within a specified time frame, as indicated in the contract. Your contract may specify a date when additional monies would be placed into the trust account.
Few homes are perfect.
The good news, however, is that in most cases the seller and the buyer are able to come to terms. You and the seller may decide to compromise, with both sharing the costs of repairs, or the seller may pay for any repairs. Or you may decide that the issue is not important enough to risk losing the home. Who pays for repairs indicated as a result of inspections is usually negotiable. Sometimes it's the buyer, sometimes the seller, sometimes the cost is split between the two. 7.