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What happens after home inspection?

We are in the process of selling our home and the buyers had the inspection done on Friday afternoon.We haven't heard anything back from the buyers in regards to any issues. My Realtor is saying that no news is good news. If there was any requests for repair,for example, would the buyers agent had already contacted my Realtor by now or no?Thanks!
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September 28 2013 - US
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Answers (7)

Look at your contract.  The dates or days of the contingency are spelled out.  X number of days from contract to complete inspections which includes the buyers written notice to the seller..  X number of days for the seller to respond to the buyer.  X number of days for buyer to respond to sellers reply.

The language should be clear in your contract.  The inspection was Friday and this is Sunday?  The buyer probably does not get a hard copy of the inspection yet.  If radon was tested that might not be back for several days depending on the test that was done.

Usually the buyer has to give you a written reply by the last day of the inspection contingency period. 

I would not fret about it read the contract so you are aware of the time periods.
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September 29 2013
The buyer's agent is likely to adhere to the timelines that are in the contract. I agree that no news is PROBABLY good news; it is my practice as a buyer's broker to alert the listing broker to any serious problems we've found ("Hey, there's an ant the size of Chicago in your north wall!"), and as the listing broker, I will ask the buyer's broker, "how'd the inspection go?"

All the best,
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September 29 2013
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A hint to effective responses - Read the question!! 

Poster writes: "We are in the process of selling our home"
Agent writes:  "A home inspection empowers you with essential options as a buyer, but with some limitations."

Good luck beta1974, let us know how it goes.  Have a pleasant Sunday.
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September 28 2013
Some inspectors have the inspection ready right on the spot but not all.  The agent needs to review the inspection with their clients, the clients need to discuss it and their options, then they get back with the agent, ... and so on but the point is this can be a process - especially if the inspection brings up an issue or two.  

When does the buyer due diligence deadline?  If there are a few big items that need repaired I'd advise to address the issues sooner rather than later. 

If it were me selling the house and I had not heard back by Tuesday evening I'd ask my agent to follow up with the buyer's agent. 
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September 28 2013
It depends on the Inspector. They may not have received the report yet. In this case, you may not here from them until Monday. Once the buyers receive the report, they will go over it (usually with their Realtor) and put in a written request for repairs. Once they sign that request, your Realtor should receive a copy and get it to you. If your Realtor doesn't hear anything by Monday afternoon, I would ask him to follow up with the other agent. It doesn't take much to make a phone call and find out what the status is. Just another case of "Hurry Up and Wait"... 
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September 28 2013
A home inspection empowers you with essential options as a buyer, but with some limitations. In the majority of home sales, the deal is contingent upon the buyers' acceptance of the home inspection report. This means that you, as buyer, have a specified number of days to accept or decline the property in "as is" condition.

The sellers' only obligation is to address defects that are named in the purchase contract or required by state and local laws. 

The home inspector provides an impartial view, performing a service without emotional ties to either the buyer or the seller.  When you're not sure, try listing your choices with the pros and cons of each option. Sometimes just organizing your thoughts and writing them down will help you find the answer. If you're still not sure, call your home inspector and discuss these options with them.

J. Reeves
CEO and Founder
Reef Point Realty & Construction
[deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
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September 28 2013
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After the home inspection, the inspector  writes a report. The buyers need to have the written report in their hands before they write a request for repairs (or to release the inspection contingency).       As the inspection was done on Friday afternoon (yesterday) and today is Saturday, chances are good that the inspector will be writing the report on Monday.     You may hear back on Tuesday or  Wednesday (depending on the contingency period in your contract). 

I agree, it can be a nerve wracking time awaiting feedback.

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September 28 2013
 
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