The Purchase Agreement, Part III Continued
Author: Pam Mason
Don't forget . . . your Realtor is experienced in this process and will guide you through it!
9) As a buyer, you have a right to inspect the property at your expense and at reasonable times. Do you want the right to request repairs? Most buyers prefer to hire a home inspector who will prepare a written report that can be used to negotiate any defects. Or, would you prefer to purchase property with the right to terminate the agreement without penalty. Then, lastly, some properties are to be sold as-is, which includes issues like lead-based paint, or termites and other wood destroying organisms. The seller does not have an obligation to make repairs to the property.
10) Are there any special stipulations you want to place on the offer? This is where you would indicate items that you would like to be included in the sale such as, "Window treatments to remain in house at no cost to the buyer." Or, "Seller to provide buyer with a one-year home warranty on the house."
11) Do you want to establish a deadline for the seller to respond to your offer?
The steps indicated above are not intended to address every possible scenario but just to give some of the more common issues that need to be addressed.
