The Inspection

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The Inspection
It is a good idea to have the home inspected. An inspection should determine the condition of the plumbing, heating, cooling and electrical systems. The structure should be examined to assure it is sound and to determine the condition of the roof, siding, windows and doors. The home should be inspected for any insect damage. Also, the lot should be graded away from the house so that water does not drain toward the house and into the basement. Most buyers prefer to pay for these inspections so that the inspector is working for them, not the seller.

The Contingency
The Purchase and Sale Agreement will often include a contingency such that the buyer has the right to cancel if (s)he is not satisfied with the inspection results. Both parties may also re-negotiate the contract in the event of an unsatisfactory inspection. The buyer may request that the seller make repairs or lower the sale price to cover the cost of repairs.

The seller then has the right to meet the request, negotiate changes, or refuse the requests. In the latter case, the buyer may then choose to accept the house “as-is” or terminate the agreement. As long as the obligations were fulfilled according to the contract, the buyer would receive a refund of the earnest money.

To request a referral for an excellent home inspector, please contact us.

Lead-Based Paint Hazards
If you buy a home built before 1978, you have certain rights concerning lead-based paint and lead poisoning hazards. For a general overview of your rights and a good source of further information, please read the relevant section within The Offer.

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