Sentences with phrase «house inspection clauses»
As recently as 2005, when the real - estate boom was in full swing, buyers routinely sweetened their bids in hot markets by consenting to the removal of termite and house inspection clauses.
https://www.popularmechanics.com/ Not exact matches
And don't skip the «conditional on inspection» clause or you might end up with a house that's falling down around your ears.
Definition: A home inspection contingency is a clause written into a real estate contract that gives the buyer the right to have the house inspected by a professional inspector within a certain period of time.
An inspection clause gives you an «out» on buying the house if serious problems are found, or gives you the ability to renegotiate the purchase price if repairs are needed.
An inspection clause can also specify that the seller must fix the problem (s) before you purchase the house.
If you still want the house, an inspection clause allows you to renegotiate with the seller in light of any issues discovered — either requesting a price adjustment, or asking the seller to make necessary repairs prior to completing the sale.