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Real Estate Tips

First Time Buyers >Inspection Contingencies

Many of today's purchase offers include a contingency clause that allows the buyers to hire a home inspector or professional expert to inspect the property. If there is a significant defect in the property, the buyer can cancel the contract without losing the earnest money deposit. Contingencies are excellent procedures that protects both the buyer and the seller.

The time period for inspection contingencies is negotiable. In most parts of the country, the buyers have about a week in which to cancel the contract if the structural inspection reveals a serious and consequential defect. The positive side to such contingencies is that the inspection usually addresses--and overcomes--the buyers' misgivings, and confirms their decision to move ahead with the purchase.

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Real Estate Trivia

Q 
What was the greatest land grant ever given to an English subject?

A 
William Penn arrived in October, 1682, to take over his enormous grant that later became Pennsylvania and Delaware.
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Jennifer Ace, REALTOR®, real estate agent and broker for Stroudsburg and East Stroudsburg, Pennsylvania home listings, property and land for sale - NUMBER1EXPERT

Jennifer Ace
RE/MAX Crossroads
1 Landmark Center
East Stroudburg, PA 18301
570-460-3111
Fax: 570-424-8852
jenniferace@NUMBER1EXPERT.com


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