Protect Your Investment With The Inspection Clause
What does the inspection clause mean?
This is the period during which we may perform a thorough physical inspection of the property to determine any potential “hidden” damage or deficiencies in need of repair that we were unable to observe on the day we viewed the property.
Where is this clause established?
The purchase/sale contract establishes:
- Deadline date for inspection
- Maximum amount of estimated repairs or damages that would allow cancellation of the contract
Who performs the inspection and how?
It can be done through a licensed inspector who uses instruments, tools and measurement techniques of:
- Structure
- Home appliances,
- Air conditioning and heating
- Water heater
- Electrical wiring
- Roof condition
- Water pressure / plumbing
- Electrical switches
- Water source and quality
- Septic Tank System
- Presence of pests (termites, cockroaches, rats, mice, etc.)
The inspector prepares an extensive report with estimates of repairs or replacements that will give you a very clear idea of the condition of the property.
If you do not wish to hire the services of an inspector, you can carry out the inspection yourself.
Is it the seller’s responsibility to repair or give a credit?
No, this inspection only allows the buyer to make a decision to go ahead, “attempt” to negotiate or to terminate the contract according to the amount established in the clause.