Included in nearly every purchase contract is a clause, that discloses that when a property being sold to a buyer under contract, the buyer has the right to have a third party inspection of the property prior to the closing of the sale. Inspections are a good idea for the buyer to include in the contract as an inspection will let the buyer know if a house has any questionable defects that could affect the value of the home or the buyers ability to move into the house.
The home inspection is a necessary part of any real estate deal. As an unbiased third party representative the inspector is responsible for the overall evaluation of the property and looking at every detail of the foundation and roofing to ensure that the house is in livable condition and safe for the occupants to inhabit. The inspector will also give an assessment of the plumbing and electrical work to determine that the standards of installation were followed and that everything is in proper working order.
If a home does not pass the inspection the offer is deemed null and void and the buyer is not under any obligation to purchase the questionable property. In fact in some instances the seller may note that a house will not qualify for financing if a property has been subjected to damage that is beyond repair. If a house is deemed unlivable or fails to pass the inspection the seller may be able to repair or replace the appropriate items that the inspector has noted and put the house back on the market for sale. If the house has failed inspection it will need to be inspected again and certified that the necessary repairs have been made before a real estate agent will list the house for sale again.
After completing the inspection process, assuming that the house passes the contract is enforced and the sale of the house to the buyer can be concluded. Although the inspection only takes a couple of hours at best to complete, the process of buying a house can be delayed until the inspection is completed. Most real estate agents will have the seller pay for the inspection as one of the terms of the purchase contract but there is nothing to say that the buyer cannot pay for an inspection if the seller refuses.
Home sales that are contingent upon the inspection have a better chance of selling as an inspection will allow the buyer to have some peace of mind when it comes to putting their signature on a thirty year mortgage.
RE/MAX Alabama (http://www.remax-alabama.com/) provides buyers and sellers with real estate maximums quality professional service. Art Gib is a freelance writer.
[tags]Alabama real estate, gulf shores real estate, Orange Beach real estate[/tags]
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