Buying a House: What’s Involved

Home Inspection

Once an offer has been accepted, the Buyer moves into high gear to get the property inspected quickly in order to remove any contingencies and secure the deal. Until all of the contingencies have been removed, the sale is in the balance from the Seller’s perspective.

If any problems or defects surface as a result of property inspections, the Buyer might request the Seller to correct the problem/defect, or they may suggest an adjustment in the agreed upon price to compensate for the Buyer having to rectify the defect. If neither option is acceptable to the Seller, the Buyer can typically revoke their offer within a specified timeframe and receive their earnest money deposit back or go ahead at the agreed price and with the defects in place.

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