{"id":27866,"date":"2019-05-17T10:42:57","date_gmt":"2019-05-17T14:42:57","guid":{"rendered":"https:\/\/themediabeast.com\/resources\/?p=27866"},"modified":"2019-05-17T10:44:41","modified_gmt":"2019-05-17T14:44:41","slug":"home-inspections-contingency-one","status":"publish","type":"post","link":"https:\/\/themediabeast.com\/resources\/home-inspections-contingency-one\/","title":{"rendered":"Home Inspection Contingency | Why You Should Have One (Beryl Project Engineering)"},"content":{"rendered":"

Home Inspection Contingency | Why You Should Have One<\/b><\/h1>\n

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Home inspections<\/a> aren\u2019t always necessary when purchasing a home. However, they are essential for finding any underlying and potentially costly issues that a homebuyer may face in the near future. It\u2019s highly recommended that homebuyers protect themselves in their real estate contracts with an inspection contingency. This will allow them the option to make changes to the contract after a professional home inspector reports his or her findings. <\/span><\/p>\n

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What is an inspection contingency?<\/b><\/h2>\n

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Also known as a \u201cdue diligence contingency,\u201d an inspection contingency gives a homebuyer the right to have an inspection on the home. Usually the inspection must occur within 3-7 days of going under contract. It protects the homebuyer from incurring a home that needs costly repairs that couldn\u2019t be seen without the trained eye of a home inspector. <\/span><\/p>\n

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After an inspection, buyers have the ability to cancel their contract on the home. They can also negotiate with the sellers about repairs based on their inspection report. Home inspections typically involve the evaluation of the property\u2019s physical components. These include: electrical, plumbing, structural and HVAC conditions. Within about 36 hours, the report will detail any issues, what their significance is and suggestions for how to repair them. <\/span><\/p>\n

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What are the buyer\u2019s options after the inspection report?<\/b><\/h2>\n

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Buyers now have the report they need to make an informed decision about their contract. They can: <\/span><\/p>\n

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