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Should I include an inspection contingency in my offer?
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Yes you should. The inspection contingency means that you can inspect the home and break the contract for any reason during the inspection period. You will also be able to raise objections based on the findings of the inspection.
Were elevated radon levels found? Are the air vents in the attic space blocked? The inspection gives you the chance to discover shortcomings and subsequently negotiate with the seller about possible mitigation and who will cover the costs for such work.
By the date set forth as the inspection objection deadline you have to come agree with the seller about how to deal with the shortcomings. Otherwise you need to make the decision if the issues are not worth loosing the deal over or if to terminated the transaction. |
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