Additional Documents Attached: Check off the additional addenda you have prepared with this offer.
Flood: I always include 10 days for the buyer to obtain a Flood certification.
Inspection contingency: Generally, 5-7 days. There is no need to specify the types of inspections, but after a purchase agreement is accepted you should inform the listing agent the number of people that will attend the inspection and the types and dates of inspection plan. Ie. Sewer and Home inspection on Tuesday with Realtor, Inspector, Buyers Parents, and Buyers 6 people in total, radon will be placed and picked up Thursday at 4:00pm.
Strong inspection language makes the offer less likely to be accepted, but does not benefit the buyer.
Inspection issues should be resolved by using an Amendment outlining the items to be fixed, date to be fixed, who will fix (contractor or homeowner), and agreement from Seller to provide paid receipts and lien waivers prior to closing. As an alternative to having Sellers commit to making repairs, it is often easier to ask for a credit which will allow the buyer to oversee any repairs.
If there is no agreement on the terms of an Amendment, then send the GMAR – Notice of Dissatisfaction with Home Inspection
Set signature tag for Does (if they wish to conduct a inspection) or Does Not (if they do not wish to have an inspection) desire to have a property inspection.
Municipal Inspections: If the municipality requires inspections this sets the limit that the seller would be responsible for. The seller is typically responsible for these fees and repairs up to the limit listed.
Leased property: If property has a current lease which extends beyond the closing date, it is important to get a copy of the lease and note terms by reference to the written lease.
Closing of Buyer’s Property Contingency: Please contact Market Manager or Team Manager for help on offers involving this contingency if you are not familiar with it.