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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 
Where are church services held in the water each Sunday during July and August?

A 
At Half-Moon Bay, Ontario, worshippers gather in boats facing the natural stone pulpit, and hymnals are passed to the floating congregation by ushers in canoes.
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Earle Whitmore, REALTOR®, real estate agent and broker for Alexandria, Arlington and Fairfax, Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

Earle Whitmore
Long & Foster Real Estate

7010 Little River Turnpike, Suite 100
Annandale, VA. 22003
Phone: 703-750-2900
Fax: 703-750-2996
Email: earlewhitmore@NUMBER1EXPERT.com


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