Home inspections for a house that didn't pass

Question

what happens to the money paid to a home inspector and you no longer want to buy that house because it didnt pass. what happens to the money? is it a loss to the prospective home buyer? do they loose that $ for every inspection that they have done?

Answer 1

What do you mean didn't pass?  Is it an FHA loan requiring an inspection?  Either way, the answer should be addressed in your contract, but typically, the buyer would pay for that inspection each time and not be entitled to any of that money back.

Answer 2

yes...you lose that money..it's not the inspector's fault.that's how they make a living...that's part of the game!!

Answer 3

No refund.  That is the price that the prospective buyer pays  to force the owner to make corrections, or adjust the price, or to back out of a bad deal.

Answer 4

yes they loose the money for each inspection because they didnt pass so they have to keep on trying intill it passes