Inspection report
The written findings from a home inspection, usually with photos and notes on safety issues, defects, and items to watch. Buyers use it to decide on repair requests or walking away.
Also called: inspection results
Related terms
A visual check of a home's structure and systems by a trained inspector, usually during the buyer's contingency period. It finds problems before you're locked in; it is not a pass or fail test.
A written list from the buyer, after inspection, asking the seller to fix items, give a credit or lower the price. The seller can agree, refuse or counter.
A problem that would significantly affect a property's value or a reasonable buyer's decision, such as a cracked foundation or a failing roof. Sellers and agents generally must disclose known ones.
A contract term that gives the buyer time to inspect the property and then cancel, ask for repairs or renegotiate based on what is found. Waiving it means accepting the home's condition as is.
A follow-up visit to confirm that agreed repairs were completed. It usually happens shortly before closing or the final walk-through.