You've been shopping for a new home.
You found one that you love, made an offer, and you just found out it's been accepted! Congratulations!
Now you have a certain amount of time (your contingency period) to make inspections and negotiate about any necessary repairs that weren't disclosed in advance.
Inspections are not inexpensive, so it is tempting to try to minimize them, especially if the Seller has provided one or more inspection reports. This can be a huge mistake. In my experience, getting inspections specifically for the buyer almost always results in the discovery of new items that were not previously identified. When this happens, the buyer has the option to request a repair, a credit, or a price reduction. The Seller, does not have…