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A pre-purchase inspection is an independent, third-party professional service that evaluates a vehicle’s condition before a purchase offer is made.Consumer protection organizations such as the Federal Trade Commission, [1] the American Bar Association, [2] insurance companies, and states recommend an independent pre-purchase inspection.
The general law of the sale of property is caveat emptor (let the buyer beware) and buyers are under a general duty to inspect their purchase before taking possession. However, it is understood at law that inspection is often not sufficient to detect certain deficiencies in the product that can only be discovered through destructive testing or ...
Pre-shipment inspection (also preshipment inspection or PSI) is a part of supply chain management and an important quality control method for checking the quality of goods clients buy from suppliers. PSI helps ensure that production complies with the governing specification, contract, or purchase order. A final random inspection (FRI) checks ...
Whether you’re a homebuyer or seller, it’s easy to confuse a home appraisal and a home inspection. After all, both involve a professional visiting your home and evaluating the premises.
A home inspection is a limited, non-invasive examination of the condition of a home, often in connection with the sale of that home. Home inspections are usually conducted by a home inspector who has the training and certifications to perform such inspections. The inspector prepares and delivers to the client a written report of findings.
The final stage of sale and purchase is known as the completion stage. It involves pre-delivery matters including inspection of underwater parts by the classification society, delivery of documents, and the physical delivery of the ship upon payment of the balance of the contract price.
Inspection contingency – Another buyer's condition. Purchase of the real estate is contingent upon a satisfactory inspection of the real property revealing no significant defects. Contingencies could also be made on the satisfactory repair of a certain item associated with the real estate.
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