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Inspections
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Hire a professional
inspector to survey all parts of the house, including the
structure, roof, exterior, the major systems (electrical,
heating, cooling, and ventilation), and appliances that will
stay. The inspector may spot existing as well as potential
problems, and will suggest remedies.
You can build an
inspection contingency into the Purchase Agreement. Ideally this
should be a blanket clause that requires the seller to make
legitimate repairs, or if the seller is unwilling to do this,
would allow you to cancel the contract.
If the inspection
does turn up some flaws, a seller often is willing to make
necessary repairs or adjust the price. Or he or she may refuse.
It all depends upon how much effort, or cash, both parties are
willing to spend.
On the other hand,
some sellers may institute their own inspections, which can be
an incentive to a buyer. After all, it saves you time and money,
and says something about the assurances the seller is willing to
make. Even so, there are advantages to conducting your own
inspection. You'll have the opportunity to tour the house with
the inspector who can point out possible trouble or tell you how
to avoid it. And though the seller's inspection may certify the
house trouble-free with only minor flaws, those flaws may be
important to you.
Finally, make sure
that a comprehensive inspection report is in writing. Although
you wisely will take lots of notes while you tour the house with
the inspector, the official report will serve as the contingent
document in any deviation from your contract. If there are major
problems, use the report as an aid that will allow the seller to
remedy the situation, or void the contract.
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