Published October 9, 2026 | Written by the Mission Realty Team
The inspection report is back, and it lists more than you hoped. In a Richmond purchase, the next few days decide whether you close on the home you offered on, close on better terms, or walk away. The choices come down to three tools: a repair request, a credit, or a price reduction. Each one moves money and risk in a different way, and each one interacts differently with your lender and the appraisal.
This guide explains how the inspection contingency works in Virginia as far as public sources let us describe it, what each tool does, what a seller can say yes or no to, and where a lender can change your plan. It does not quote price or market data, because the right ask depends on your findings and your contract, not on an average.
What the Virginia contract does and does not say about inspections
Virginia is a buyer-beware state. The Code of Virginia says buyers should exercise their own due diligence, including a home inspection, and that the owner makes no representations or warranties about the condition of the property in the disclosure statement. You can read the text in Va. Code § 55.1-703. That means a seller has no general legal duty to fix what an inspector finds. Any duty to repair comes from your contract and whatever addendum you and the seller sign afterward.
Many Richmond-area contracts use the Virginia REALTORS forms. In an association Q&A, Virginia REALTORS describes its Home Inspection Contingency Addendum, Form 600D, as the tool that lets the parties negotiate repairs for deficiencies. If the parties cannot agree on how to resolve them, the buyer has the right to terminate. The same Q&A explains that a deficiency means an item that would reasonably affect a buyer’s decision to purchase, and that cosmetic items and matters of preference do not count. A leaking roof qualifies, while repainting a basement does not, as the Virginia REALTORS explanation puts it.
We could not read the full text of the standard contract on a public page, so we are not quoting its day counts, notice mechanics or response windows. Those are filled in for each deal and vary by contract and addendum. Read your own addendum, put every date on a calendar, and ask your agent to confirm them before you send anything.
Repair request, credit or price reduction: how each tool works
A repair request asks the seller to fix specific items before closing. The seller hires the licensed professional, completes the work, and you confirm it was done. It suits defects you want solved by someone accountable, such as an active roof leak or a failed water heater. The Consumer Financial Protection Bureau notes that a buyer may want to negotiate over who should make or pay for repairs, and that the seller may or may not agree, depending on the contract and the market.
A credit gives you money at closing instead of a repair. The seller does not touch the problem, and you handle it after you own the home. A credit suits items you plan to fix on your own schedule, such as replacing a furnace you would upgrade anyway. The same CFPB page lists asking the seller for a credit for the cost of repairs as one option. The catch is that your lender may limit how much seller money it will allow on your loan, so ask before you write a number. Our guide to seller concessions in Richmond covers how those limits work in practice.
A price reduction lowers the contract price itself. It changes the number your loan, your down payment and, in many cases, your closing costs are built on. It also changes the comparison your appraiser makes. A credit leaves the contract price where it was, which matters if the appraisal is close.
Which tool fits which finding
Start by sorting the report into three piles. Safety and major-system items, such as active leaks, failing electrical components or a damaged crawlspace, point toward a repair request or a credit large enough to cover a licensed contractor. Items with an unknown cost, such as a questionable sewer line, call for a specialist visit before you ask for anything, because a request with no quote behind it is easy to refuse. Our guide to what a Richmond home inspector will not cover lists the add-on checks that settle those questions. For a refresher on what the report itself contains, see our home inspection guide for Richmond buyers.
Cosmetic and preference items belong in the third pile, and most of the time they belong off the request altogether. Under the Virginia REALTORS explanation above, a seller refusing a cosmetic request does not give you a termination right. A long list of small items can also cost you goodwill with a seller who is deciding whether to say yes to the items that matter.
Older homes bring a predictable set of findings. A house built decades ago, whether in the Fan, Church Hill or an older part of Henrico County, often shows aging systems. Three of our guides cover the ones that come up most: old electrical panels, old plumbing and asbestos in older homes.
Get the Richmond closing-timeline checklist
A downloadable checklist that lays out the steps from accepted offer to closing, including inspection, repair negotiation, appraisal, underwriting and the final walk-through, so each deadline lands on your calendar. Ask for it through our contact page.
How the lender and appraiser change the conversation
Your lender can overrule a handshake deal. The CFPB says some loan programs require a property to meet specific standards, that the appraisal may note needed repairs, and that for major repairs the lender can require them to be finished before closing as a condition of the loan. It also says a lender may instead ask the buyer to set aside funds in a special account to cover repairs right after closing. If the appraisal flags an item that also appears on your inspection, treat it as a required repair, not a negotiating choice. Our post on underwriting conditions after contract explains how those conditions arrive.
When repairs cannot be finished by closing, an escrow holdback is one way to keep the deal alive. The title agent holds money until the work is done, with the lender’s approval. We cover the mechanics in our guide to escrow holdbacks at a Richmond closing.
The appraisal can also reshape your ask. If the appraised value comes in under the sale price, the CFPB says you can often use the lower value to negotiate a lower price, and it calls buying above the appraised value very risky. Our guide to a low appraisal in Richmond lays out the options. The practical point is that a credit does not reduce the contract price, so it does nothing for an appraisal gap, while a price reduction can.
What a seller can say yes, no or maybe to
A seller has more than two answers. Because the owner makes no warranty on condition under Virginia law, a seller can accept your full request, accept part of it, refuse repairs but offer a credit, answer with a smaller credit or a price cut, or decline everything. Each answer is a negotiating move, and each one needs a written response inside the window your contract gives.
Sellers often prefer a credit to a repair, because it avoids scheduling contractors and being responsible for the result. Others prefer repairs, because a credit comes straight out of the money they take home. A seller whose net proceeds are already tight may refuse a credit but agree to fix a safety item. Knowing which way your seller leans helps you pick the version of your ask that is easiest to accept.
A fair request is specific, supported and proportionate. Attach the inspector’s page for each item, include a contractor quote where you have one, and say whether you want the repair or the credit. If the seller counters, you can accept, counter again, or decide whether the home still works for you. If you are on the selling side and want fewer surprises, our guide to pre-listing inspections for Richmond sellers explains how to get ahead of the report.
A realistic timeline from report to closing
The order of events is more reliable than any day count. First you receive the report and sort the findings. Next you collect quotes and decide which tool fits each item. Then you send a written request before your contingency deadline, the seller responds, and both sides sign an addendum that records what was agreed. After that, repairs are scheduled and completed, receipts and permits are collected, and the lender orders or reviews the appraisal while underwriting continues. The last checks happen at the final walk-through, which is the moment to confirm the repaired items in person. Our guide to the final walk-through in Virginia lists what to look for, and our post on how long it takes to close in Richmond puts the whole schedule in context.
Before you start, line up your financing. Our preferred lenders page and buyer page show how we work with buyers through this stage. If the inspection has you rethinking the house, you can keep searching with a saved filter on our property search, across the City of Richmond and in Chesterfield County as well as Henrico.
Frequently asked questions
Should I get contractor quotes before I send a repair request?
Yes, when the finding is expensive or unclear. A written quote from a licensed contractor turns a vague complaint into a number a seller can respond to, and it helps you choose between asking for a repair and asking for a credit.
What if the seller refuses everything?
Check your contract and addendum for your options before the contingency deadline passes. In the Virginia REALTORS addendum described above, a buyer who cannot reach agreement on deficiencies has the right to terminate. If you would rather close, you can accept the home as it is or propose a smaller ask.
How do I know the repairs were done properly?
Ask for receipts, the contractor’s name and license information, and permits where the work required them. Your agent can also arrange a re-inspection of the repaired item, and you can check the work again at the final walk-through.
Who pays for a re-inspection of repairs?
The contract usually does not answer that on its own, so settle it in the repair addendum. Either side can agree to pay, and putting the cost in writing avoids a dispute at the last minute.
Can I ask for more after the deadline?
Treat the deadline as final. Once the contingency period ends, you may lose the right to terminate over inspection findings, which removes most of your leverage. Confirm your exact dates with your agent or attorney.
Does a credit have to appear on the closing paperwork?
Yes, in practice. A negotiated credit is written into the contract and then shows up in the closing figures, which is why your lender needs to approve it early. A surprise credit near closing can create delays.
Should sellers do a pre-listing inspection to avoid these negotiations?
It can help by moving surprises ahead of the offer, so you can fix, price or disclose items on your own timeline. We explain the trade-offs in our guide to pre-listing inspections for Richmond sellers.
What should be in a repair addendum?
List each item, the agreed fix or credit amount, who performs the work, the completion date, and how you will confirm it. Both parties should sign it, and a vague handshake agreement leaves you with little to enforce.
Want the closing-timeline checklist?
Request the downloadable Richmond closing-timeline checklist and keep every inspection, appraisal and closing date in one place.
This article is general information and not legal advice. For questions about your contract, addenda or deadlines, consult a Virginia real estate attorney.
