When you buy a home, you will see two things that sound similar and are not: the inspection contingency and the seller's disclosure addenda. Knowing which is which makes the whole process less confusing.
The inspection contingency is your right
The inspection contingency is the buyer's right to have specific inspections done at the property. You use it to confirm that things are in working order and to understand any issues before you commit to the purchase.
The disclosure addenda are the seller's statement
The lead, radon and seller's disclosure addenda are different. Those are documents the seller provides, stating their own knowledge of issues with the property: lead, radon, and the other items covered by the seller's disclosure.
A simple way to hold it: the disclosure is what the seller says they know. The inspection is what you go and find out for yourself.
How to think about the inspection
Inspections are for major defects and safety issues. A home's age on its own is not a defect. A house that has stood for decades can be sound, and a newer one can have problems, so the inspection is about condition, not about the calendar.
When the report finds things
Rather than handing the seller a long list of small repairs, it can be better to ask for a single credit that covers the issues in the report. Itemized repair lists can get priced low by the other side, and a credit lets you handle the work the way you want.
A note on the report itself
The inspection report belongs to the buyer who paid for it, not to the seller. If another agent asks for a copy, for example when backup offers are being taken, permission has to be asked before it is shared.
The bottom line
Use the disclosures to learn what the seller knows, use the inspection to learn what is actually there, and lean on your agent to help you decide what is worth asking for. Foraker's own Brian Foraker comes from a construction background, which is why we put real weight on how a house is built and what it will cost to fix.
General information, not legal advice. Your contract controls what applies to your purchase.
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