REAL ESTATE 101 - INSPECTION PERIOD

REAL ESTATE 101 - INSPECTION PERIOD

  • Scott Shuffield
  • 10/25/22

The Inspection Period of a Florida AS-IS contract is very important! Once the contract is executed ๐Ÿ–‹  (signed by buyer and seller), the clock โฐ starts ticking and the first step is hiring an inspection company to perform an inspection on the property to evaluate the condition of the home.

  ๐Ÿ”Ž The goal of the home inspection is to give you an objective, independent analysis of the physical condition of the home and check for any safety issues that might otherwise be unknown.

We recommend ordering a ‘Comprehensive Inspection’ which includes electrical, plumbing, insulation, water source, HVAC System, Foundation, and Roof.  There are additional inspections you can order such as a Mold Inspection, Lead-Based Paint Inspection (for properties built before 1978), Wind Mitigation Inspection and 4-point inspection (the wind mitigation and 4 point inspections are typically needed for obtaining insurance). You will receive a written report of the inspection and an estimate of the cost of repairs.  ๐Ÿ’ฐ Inspections are prepaid before services are rendered. 
 
Depending on the results of the inspection you’ll have the opportunity to: 

  1.  Proceed with the purchase
  2.  Negotiate that the repairs are made by the seller before Closing
  3.  Request credits from the seller to account for necessary repairs
  4.  Cancel the contract if major problems are discovered and seller and buyer cannot come to an agreement (buyer will be refunded the earnest money deposit if contract is cancelled before inspection period expires)

The inspection period provides a great opportunity for you to purchase with confidence and it is also an exciting time to truly learn about your new home.

As we are before, during and after your purchase, we will be alongside you throughout the inspection period to provide insight and referrals as needed.

Work With Scott

Scott Shuffield understands that buying or selling a home is more than just a transaction. That's why he takes such great pride in the relationships he builds and works relentlessly to help buyers, sellers, landlords, and tenants achieve their real estate goals.

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