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Many of today's purchase offers include a contingency clause that allows the buyers to hire a home inspector or professional expert to inspect the property. If there is a significant defect in the property, the buyer can cancel the contract without losing the earnest money deposit. Contingencies are excellent procedures that protects both the buyer and the seller.
The time period for inspection contingencies is negotiable. In most parts of the country, the buyers have about a week in which to cancel the contract if the structural inspection reveals a serious and consequential defect. The positive side to such contingencies is that the inspection usually addresses--and overcomes--the buyers' misgivings, and confirms their decision to move ahead with the purchase.
Nustret "Nick" Hajrulla Horizon Real Estate 408 Main St., Suite 401 Boonton, NJ 07005 973-588-7333 Office 973-865-1727 Cell Fax: 973-588-7334 Email: Nick@realtornick.com
I am committed to serving you with honesty and integrity. I stand committed to these ideals because I am not in it for a fast sale. I want you to be a customer for life! I autograph my work with excellence.
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Boonton, Denville and Mountain Lakes, New Jersey
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