What are home inspections, and why are they so important for buyers?
Today I want to talk about home inspections and why they’re so important. Even our purchase contract points out how crucial it is to get an inspection. The inspector will go into the attic, hop onto the roof, check the electrical, look for leaks, and more.
The default time in our contract is a 10-day inspection period. As a buyer, you can cancel for any reason during that time. Once the inspection is over, we’ll get a report from the inspector, and we’ll have an opportunity to ask for repairs.
We call this a BINSR, or buyer’s inspection notice and seller response. We write up what needs to be addressed from the inspection report, and we ask the seller to make those repairs. They have five days to answer.
“As a buyer, you can cancel for any reason during the inspection period.”
If the seller refuses to make any repairs, you have the right to cancel the contract. If they say that they’ll make some of the repairs, you also have the right to cancel the contract. Whatever the response, we have five days to respond back to the seller. Because of this back and forth, the inspection period can be as long as 20 days.
If you have any more questions about this or real estate in general, feel free to call or email me. I’d love to hear from you.