Inspection Contingencies
Don’t be penny wise and dollar foolish. Make your offer subject to home inspections being done and the results satisfactory to you. If there are legitimate problems you can re-negotiate or cancel the contract.
Timing. When do you do the inspections? Before writing an offer? After your offer is accepted?
Who should you use to do the inspections? A contractor friend? A relative? Professional home inspectors? Someone referred by the real estate agent?
Your purchase offer should contain a contingency for, at the very least, a general engineer/property inspection. Look for members of ASHI. Other inspections to consider: Furnace Cleaning and Inspection - Chimney Cleaning and Inspection - Radon testing - Lead Paint testing - Pest Inspections - Swimming Pool Inspection - Well/Water testing and inspection - Septic Inspection - Testing for toxic mold
Mandatory Property Condition Disclosure - As of March 1, 2002, NY State law requires a seller to complete and sign a property condition disclosure. A copy of this form needs to be given to buyers “before” they write an offer. Caution, this is not a substitute for property inspections. There may be problems with the home that the seller doesn’t know about and/or doesn’t put on the disclosure. Play it safe, do home inspections.