I found this article on NewsOK out of Oklahoma about the options buyers and sellers have after the completion of a home inspection. If you have found problems, then you want to immediately get at least 3 estimates to correct the serious problems. Once you know more about what it will cost to repair the problems, then you can objectively look at whether or not you can afford to proceed with the house purchase. Many buyers will make an offer that is below the asking price of the home, depending on how much lower your offer is to the original price should be taken into account and you may or may not want to ask for an even lower price. If things are tight in your budget, buying a home that you can barely afford is not a good financial decision because the home will always need repairs, so you will need money to fix problems that arise or just basic maintenance like painting or roof replacement down the road. Here is the link to the original article.
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By Adrien Tanguay, President of ACT Home Inspections Inc., NYS Lic #16000059233