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The Inspection, Repair, Survey Addendum will be the first document that you work on after the Inspection is performed.  

In the IRSA (Inspection, Repair, Survey Addendum) the buyer lists the repairs they are asking for the seller to perform.  They have ten days to submit this first process to the seller.  

The seller then has 5 days to respond.  In the seller's response they can agree to all or a portion, or none of the repairs.  They can even offer suggestions such as a monetary settlement.  The seller chooses their response and submits to buyer.  The buyer must review then also respond within 5 days so that the seller can immediately get to work if necessary to perform any repairs that may have been agreed upon.  

At this point both buyer and seller are in agreement and the Real Estate Contract moves forward.  

Buyer can request receipts as evidence of any work performed, although this is not necessary in all situations.  

Buyer has the right before closing on the home to do a final inspect.  We call it the "Final Walk Through".  At this time the buyer can accept the home with the repairs that may have been done.  If there are any concerns or questions on repairs, or even condition, the buyer can halt the process, delaying closing until the issues are resolved.  

  
Repairs Made After Closing: There are a few basic scenarios for repairs made after closing:

• The seller can give you a lump sum at closing to cover the cost of repairs.
• The seller can prepay a repair person to do the work.
• A portion of the seller's proceeds can be held in trust after closing and used to pay for repairs. A signed agreement should be in place to ensure that repairs are made.

The method you use depends on the complexity of the repairs. Simple items, where you feel the estimate you've received is sufficient, could probably be paid as a lump sum. Extensive repairs often uncover more issues as they progress and nearly always cost more than anticipated.

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