With Home Inspections Back In Play Again, Do Not Assume Your Contract Price Will Definitely Be Your Sales Price

Plenty of buyers are making offers that include home inspection contingencies these days - and reasonably so.  A home purchase is a large purchase and a major decision and it makes sense to engage a professional to help you understand the condition of the house.

As such, home sellers should not assume that their contract price will definitely be their sales price, because...

1.  Your home inspection might reveal property condition issues that you did not know existed, resulting in negotiations on repairs or pricing.

2.  The buyer for your home might be more concerned about some known needed repair items than you might expect, resulting in negotiations on repairs or pricing.

So, when your home goes under contract, great! 

But wait until you get past the home inspection contingency to consider your contract price to (likely) be your sales price.

All that said, as with most things, how true the above will be for you and your home will vary based on the price range of the home, it's condition, the age of the major systems, and based on how much other buyer interest existed when your current buyer made their offer.