Inspection contingency in home purchase contracts
An inspection contingency gives the buyer the right to have the home inspected within a specified time period, such as five to seven days. It protects the buyer, who can cancel the contract or negotiate repairs based on the findings of a professional home inspector.
According to the inspector's reports, and in case of damage such as the condition of electrical, finish, plumbing, structural, and ventilation elements the buyer can request repairs from the seller, or take the cost of repairs from the seller, or reduce the cost of repairs from the amount of the house, or without Payment of any losses terminate the contract.
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