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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.
Home inspections are a key part of the homebuying process. As the buyer, you’ll want to have a qualified professional inspect the interior and exterior of the property in detail to determine ...
The phrase caveat emptor and its use as a disclaimer of warranties arises from the fact that buyers typically have less information than the seller about the good or service they are purchasing. This quality of the situation is known as 'information asymmetry'. Defects in the good or service may be hidden from the buyer, and only known to the ...
The result is the seller pays less commission overall (roughly half) when the property sells. [11] This is because a seller will pay a percentage of the sales price to a buyer's agent but not have to pay a percentage to a seller's agent (because there isn't one; the seller is representing himself).
Once you understand why a home might fail inspection, you can better formulate a repair plan. Here are 15 common things that may come up and what you can do to address the issues.
The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1] Deliberate misrepresentation in the statement can result in liability. [2] Seller disclosure statements are not compulsory in New ...
A home inspection is an important part of the homebuying process — it provides you with a clear picture of the condition of a home and alerts you to any problems, so that you know exactly what ...