You found the perfect home in Melbourne, FL! It has everything on your checklist, whatever that may be. The yard. The location. The size. You are in love…and now you have to put in an offer, cross your fingers and hope that the sellers aren’t entertaining multiple offers like yours. There is no doubt about it, buying a home can be an incredibly stressful experience, no matter how Zen you normally are. The reality is you can do absolutely everything right, have all your ducks in a row, and still lose out. Hey, we are not trying to discourage you here. Quite the opposite. We want you to have all the resources and tools available to see the home of your dreams become a reality.
A Mother’s Touch Movers has over 30 years of professional moving experience on our side. We have helped so many residents of Brevard County with their moves and know a thing or two about the process. From start to finish, we have your Melbourne, FL move covered. We know that when you find the perfect house, you want to act fast. However, you still need to protect yourself because what looks like the perfect home on the outside could, in fact, be housing a whole host of issues on the inside. What can you do to protect yourself as the buyer? Read on for more.
You have the option to put in a contingent offer to a seller. A contingency clause is a provision specifically spelled out in the contract stating that a specifies something must occur before the contract itself becomes binding. If a buyer or seller has a contingency within their contract, both parties must agree to it and know that if conditions are not met, the other party has the legal right to back out of the contract. Now that you know what a contingency clause is, let’s take a closer look at one type, in particular, the inspection contingency. This is incredibly important for buyers and should be worded appropriately if you are considering purchasing a home.
An inspection contingency clause allows the buyer of a home to have the home inspected by a professional home inspector within a specified amount of time once the seller agrees to the contract. Why is this so important? A home could have structural or foundation problems that are not visible from the outside. It could also be infested with termites, mold, or be unstable. If you were to go under contract blind, without knowing these issues, you would be walking into a money pit. An inspection allows you to make an informed decision about the property you are considering purchasing. Providing the terms of the contingency, a buyer can back out of the sale, request further inspections, or ask for repairs from the seller. It is important that the terms are specific, detailed, and known by you, the buyer.
Inspections can reveal problems with a home that you would not otherwise notice. In this seller’s market, many buyers waive inspections because they are anxious to own. However, we highly recommend against doing this. Save yourself heartache, money, and time by inserting an inspection contingency into your contract.
