What should be done if a property inspection reveals unexpected deficiencies?

When a property inspection reveals unexpected deficiencies, one of the primary avenues to address these issues is through negotiation between the parties involved in the transaction. Agreeing to alter the purchase price allows the buyer and seller to find a middle ground that reflects the condition of the property post-inspection.

This option is practical because it acknowledges the potential cost and effort required to remedy deficiencies that were not disclosed prior to the inspection. By negotiating the purchase price, the buyer can account for repair costs or future expenses related to the deficiencies. This solution promotes collaboration and helps maintain the deal while ensuring that both parties feel they are being treated fairly.

Other options, such as removing the property from the market or canceling the transaction without discussion, can lead to unnecessary complications and may not always be in the best interest of either party. Additionally, insisting that the buyer must accept the property as is may not be reasonable, particularly if significant issues have come to light unexpectedly. Thus, negotiating a price adjustment typically serves as a more practical and equitable response to inspection findings.