Understanding Inspection Contingencies

By Mark Callender

Hello, my name is Mark Callender and I am a licensed real estate agent with RE/MAX Results. Because I have been helping families buy and sell their homes for more than 18 years, I am now helping their children to buy their first homes and their parents to downsize. No matter the direction you’re moving, my goal is to make the process as calm and enjoyable as it can be.

Today I’ll talk about inspection contingency timelines. The inspection contingency is confusing for a lot of buyers, and I often get asked about it when we write offers.

When we write an offer on the home you want to purchase, we put in an inspection contingency. That means that if we find a problem after we have a professional inspector look at the house, we can negotiate any and all items that we want to ask the seller to repair. We can also give them the option to simply reduce the price of the property.

If there’s a problem with a home, sellers will often hire somebody to repair the things that we’re asking for. We have a certain time frame to do all of this. Usually, it’s anywhere from five to 10 days. If the repairs are reasonable and the negotiations aren’t fruitful, the buyer can walk away from the house without consequences.

If you have any further questions, don’t hesitate to call or text me at 612-961-9448. I look forward to hearing from you.