LET’S CHAT INSPECTIONS
The purchase agreement says exactly how many days you have to get all inspections done, and respond to those inspection via an "inspection response."
You may either: WAIVE or RESERVE the right to have independent inspections & a survey within an agree upon timeline. Inspections show possible present & future repair items to consider.
A survey shows your home’s boundary lines
Any and all inspections and/or Survey shall be at the buyer's expense.
Inspection Response is Required:
If a "defect" is revealed by an inspection, you must:
provide the inspection report or relevant parts, and give the seller the opportunity to remedy the defects if it is possible within the terms given to the seller. The buyer's inspection response will outline/list out the defects you want addressed.
If the seller is unwilling or unable to remedy defect to your reasonable satisfaction, you can either:
terminate the agreement if terms of contract provide for this (and get your earnest money back), or waive the defects and proceed towards closing.
DEFECT, defined:
A "Defect" means a condition that would have a significant adverse effect on the value of the Property, that would significantly impair the health or safety of future occupants of the property, or that if not repaired, removed, or replaced would significantly shorten or adversely affect the expected normal life of the premises. When items are operational, you may not have any recourse. When a product is old, this is not considered a defect.
