In a hot market or when purchasing a home from a family member or friend, buyers can be tempted to forego a home inspection. Such a move can be an expensive mistake and our advise is a buyer should always add an inspection contingency clause when submitting an offer to purchase home. A verbal agreement is not enough. According to Investopedia, when the clause is added to the contract it “defines a condtion or action that must be met for a real estate contract to be binding”. A typical clause will allow 10-14 days for the buyer to obtain an inspection once both parties sign the purchase offer.
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