Can I Back Out???
Posted by Randall Martin
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"I want this offer to be contingent upon a good inspection report."
This is a statement I hear from a lot of buyers when we get ready to make an offer to purchase a home. "What if the home has something wrong with it that we want to avoid?" This is a legitimate concern for anyone.
Well...the truth is...there is no such thing as a "good" or "bad" inspection report. Don't freak out yet!!! Let me explain...
Inspectors are objective and their reports state only facts about the condition of a home. What SOME people may interpret as GOOD, others may perceive as BAD. So, how are YOU protected from making a BAD purchase??? The option period.
The option period gives YOU, the buyer, the unrestricted right to terminate the contract within a negotiated time. What makes this more attractive is that YOU, the buyer, will get your earnest money back as well. There are some details that go into this Option Period. Do you want to know more???
Leave me a comment and I'll be happy to go into more detail as to how YOU, as a buyer, can be protected when you make an offer!
This is a statement I hear from a lot of buyers when we get ready to make an offer to purchase a home. "What if the home has something wrong with it that we want to avoid?" This is a legitimate concern for anyone.
Well...the truth is...there is no such thing as a "good" or "bad" inspection report. Don't freak out yet!!! Let me explain...
Inspectors are objective and their reports state only facts about the condition of a home. What SOME people may interpret as GOOD, others may perceive as BAD. So, how are YOU protected from making a BAD purchase??? The option period.
The option period gives YOU, the buyer, the unrestricted right to terminate the contract within a negotiated time. What makes this more attractive is that YOU, the buyer, will get your earnest money back as well. There are some details that go into this Option Period. Do you want to know more???
Leave me a comment and I'll be happy to go into more detail as to how YOU, as a buyer, can be protected when you make an offer!
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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