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Step
9. The Physical Inspection
The
most important and often only inspection
conducted by the buyer is the general
physical inspection. After an accepted
offer is in hand, the Buyer chooses
a licensed inspector, and gives you
notice to have the property available
for an inspection. It is important
to ensure that you have all of the
utilities on for this appointment.
At the inspection, the inspector will
investigate all of the major systems
of the property and present any deficiencies
in a detailed report. The Physical
Inspection Report is delivered to
both the Buyer and Seller. Although
minor defects may be mentioned, such
as a broken doorbell, they will not
be the concentration of the report.
Please
note that every inspection report
WILL uncover some problems! We have
NEVER seen a home inspection report
without some issues. At this point
the Buyer will traditionally ask the
Seller to repair any major issues.
Your agent will work with you to determine
reasonable requests to either repair
the items or to discount the purchase
price of the property so that the
Buyer can make the repairs at a later
date. On rare occasion, if you cannot
come to an agreement with the Buyer
on what needs to be done, you can
mutually cancel the contract. After
the Buyer's acceptance of their physical
inspection, you are ready to open
escrow.
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