What is the inspection contingency clause?
This is a clause that gives the buyer the right to inspect the property that he or she intends to buy, with the purpose of determining hidden damages or deficiencies that need repairs and may not have been seen during the day of the first visit to the property.
Where is this clause stipulated?
This clause is stipulated in the sales contract. The contract states the following:
Who carries out the inspection and how do they do it?
A certified inspector carries out the inspection by using instruments, tools, and measurement techniques to determine the condition of the following:
The inspector prepares an extensive report with an estimate for repairs or replacements that will give you a clear picture of the conditions of the property.
Is the seller responsible for the repairs?
No, this inspection only allows the buyer to make a decision to move forward, attempt to negotiate, or end the contract, according to the amount established in the clause.
Less freedom in moving Responsible for all improvements and repairs Possibility of using the property for an unlimited period Sense of ownership, stability and community Possible appreciation/gains, making home ownership an excellent investment Freedom of renovating the property Responsible for
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