David Saks: Real Estate Practice : Lesson 3695

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Practice : Lesson 3695

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The Buyer Orders A Home Inspection

The buyer or buyer's real estate agent is responsible for ordering a home inspection report, if they decide to have one performed. A home inspection usually costs around $350 for the average home, and maybe an additional fee if a termite inspection is included in the inspection. A home inspection tells the buyer if there's anything wrong with the property that's not evident.

 

 

When Should the Home inspection Be Performed ?

Right after the contract is signed, and should be completed 3-4 days before the option period has expired. This will give the buyer time to take care of any repairs that are required.

 

Repairs Made if Required

Once the inspection report has been surveyed, the buyer and the seller can determine which repairs the seller will make. The buyer might be able to cancel the contract if the seller doesn't agree to repairs. The language of the contract would have more to say about it.

What are your thoughts?




David Saks



Time&Temp Memphis

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Comment balloon 10 commentsDavid Saks • September 15 2014 03:04AM

Comments

You always provide good information about real estate. Home buyers and sellers in your market area should call you to be their agent.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 5 years ago

David, the inspection is so important and can definitely make or break a transaction! 

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) over 5 years ago

The inspection is vital so the Buyer understands what they are buying. Thanks for providing important content for all of us.

Posted by Larry Lawfer, "I listen for a living." It's all about you. (YourStories Realty Group powered by Castles Unlimited®) over 5 years ago

Thank you, Gita.

Posted by David Saks ((retired)) over 5 years ago

It really is important, Joan, as are the disclosure summaries. Thanks.

Posted by David Saks ((retired)) over 5 years ago

Thank you, Larry.

Posted by David Saks ((retired)) over 5 years ago

David -- The inspection should NEVER be skipped, even with new construction.

Posted by Barbara Altieri, REALTOR-Fairfield County CT Homes/Condos For Sale (Kinard Realty Group Fairfield and New Haven County CT Real Estate) over 5 years ago

You're right, Barbara. Thanks.

Posted by David Saks ((retired)) over 5 years ago

David, Getting the home inspection scheduled and completed quickly once the home goes under contract can give the buyer a little extra time to obtain estimates if their are recommended repairs.

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 5 years ago

That's right, Sam. The 203k case in point.

Posted by David Saks ((retired)) over 5 years ago

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