Friday, August 03, 2007

Unlisted property inspection defects...

Another sort of interesting question that came up lately in a real estate transaction. Client/buyer does typical property inspection pursuant to Professional Inspection and licensed inspector returns his report. However, there's a problem that inspector does NOT include in the report. Is this something that we can use to kill the deal under the Professional Inspection contingency?

I think it is. The contingency covers major components that are defective. Inspector SHOULD include everything in his written report. We resolved the situation by having another repair person review and give an estimate on the "unwritten" defect and then Seller gave us a nice credit. But something to think about...

1 Comments:

At 6:57 PM, Blogger jone said...

Small bits of content which are explained in details, helps me understand the topic, thank you!

Property Inspection

 

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