As the curtain falls on the home inspection, Step 12 unfurls the Inspection Contingency Notice, a pivotal addendum to the purchase-and-sale agreement. This notice signals to the seller that the inspection is complete and outlines your course of action within the specified timeframe. Failure to submit this notice in time relinquishes your right to demand property issue resolutions.
Your Options in the Contingency Notice:
Navigating Negotiations:
Repair credits and price adjustments can be mutually beneficial. Sellers may prefer these options, avoiding the complexities of repairs, while buyers can oversee fixes to meet their standards. Our collaboration with your loan officer ensures informed decisions regarding price adjustments or repair credits.
Interactions with the Seller:
A meeting is scheduled with the seller or their agent to elucidate the scope and cost of inspections. The seller holds the cards, choosing to accept, reject, or negotiate repairs, especially for substantial issues like electrical faults or foundation cracks.
Seller's Response:
Acceptance: If the seller accepts the contingency notice, whether by committing to repairs, a repair credit, or a price reduction, the contract remains intact.
Rejection or Alternative: The seller may propose alternatives. You can:
This negotiation dance may continue until a common ground is found, or a decision is made to part ways. Emotions can soar, fueled by the seller's emotional connection to the property and the inspector's meticulous scrutiny. Your Realtor® becomes a crucial mediator, objectively steering the process to safeguard your interests and maintain the deal's integrity. In this intricate performance, we skillfully navigate each step, orchestrating a seamless transition toward the realization of your homeownership dream.
We build trust through relationships and are focused on delivering an EXTRAORDINARY EXPERIENCE. We commit to always deliver excellence and go that extra mile, giving 121% to surpass our clients expectations. Taking the client experience from transactional to experiential.
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