What is An Inspection Clause?

What is An Inspection Clause?

Remember these pointers from the video: you may want to include an inspection clause in the offer when negotiating for a home. An inspection clause gives you an out on buying the house if serious problems are found or gives you the ability to renegotiate the purchase price if repairs are needed. An inspection clause can also specify that the seller must fix the problem(s) before you purchase the house.

Your inspection is typically done during your due diligence period and all repairs/price reductions will need to be negotiated during this time period.

You can also cancel your contract if you feel the repairs/issues are too severe or if you are not able to come to terms with the Seller when negotiating the repairs/issues.

In Georgia we are a Buyer Beware State.  This means that it is up to the Buyer to perform all of their own inspections which can include:

1)  Home Inspection

2)  Radon Inspection

3)  Termite Inspection/Pest Inspection

4)  Stucco Inspection

5)  Septic Inspection

6)  Foundation Inspection

7)  Roof Inspection

8)  HVAC Inspection

9)  Electrical Inspection

10)  Pool Inspection

11)  Sewer/Plumbing Lines

Also to ensure that this home is the best fit for their needs which can include checking out schools, crime, etc. 

Below are some sites you can look at for information on schools and crime, however, there may be more sites with additional information.  These are just suggestions to help you get started.

www.greatschools.org

www.gbi.georgia.gov

www.city-data.com

www.spotcrime.com

www.dea.gov/clan-lab/clan-lab