You have decided it is time to buy a home of your own. You are confident that your personal situation is such that you are able to keep the home for at least 5 years so the next question is affordability. That is a complicated question particularly in today’s tighter lending environment. Let me give […]
Almost all purchase contracts contain a contingency for a home inspection. And those that don’t, really should. There are some contract contingency clauses that are marginal. In a multiple offer situation, some of these may be passed over to make your contract more attractive. The home inspection contingency should not be on that list. Even in a foreclosure or short sale when you can not ask the seller to execute repairs, you still need a home inspection contingency. In that case the contingency will contain wording that if the inspection reveals conditions you can not deal with, you have the right to void the contract.
So that leads to the question of how to pick an inspector.