What does the inspection clause mean?
It is the period during which we can conduct a thorough physical inspection of the property to determine possible “hidden” damage or deficiencies that warrant repairs that we could not observe the day we viewed the property.
Where is this clause established?
The purchase/sale contract establishes:
- Maximum date to carry out the inspection.
- Maximum amount of estimated repairs or damages that would allow cancellation of the contract.
Who carries out the inspection and how?
It can be done through a licensed inspector who uses instruments, tools and measurement techniques for:
- Structure.
- Home appliances.
- Air conditioning and heating.
- Water heater.
- Electrical wiring.
- Roof condition.
- Water pressure/plumbing.
- Electrical switches.
- Source and quality of water.
- Septic tank system.
- Presence of pest (termites, cockroaches, rats, mice, etc.).
The inspector prepares an extensive report with an estimate of repairs or replacements that will give you a very clear idea of the condition of the property.
If you do not wish to hire the services of an inspector, you can perform the inspection yourself.
Is it the seller's responsibility to repair or provide credit?
No, this inspection only allows the buyer to make the decision to move forward, “attempt” to negotiate or terminate the contract according to the amount established in the clause.
