A home inspection will usually happen within 7-10 days after the contract is accepted, if not sooner!  The buyer is responsible for the cost and scheduling of the inspection. An inspection typically takes 3-4 hours for a single-family home, 2-3 hours for a townhouse and 1-2 hours for a condo. It can take up to 24-48 hours to receive a completed report.  We always recommend you not be present for the inspection.  Let the inspector do their thing and let the buyer be there to take in the recommendations from the inspector.  You will get a chance to review the report after. 

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The buyers and their agent will review the inspectors report and then make requests to you on what they feel should be covered.  If something major is wrong with your home (if you listened to us at the start and got your own inspection you won't be caught off guard) the buyer might walk.  If they do not walk they might ask you to credit them the amount for any repairs or ask you to complete any repairs.  This is all a negotiation and remember the buyer can still walk and then you will be back at square one again.  Make sure you are responsible and if your listing price reflected any issues make the buyer aware of that.