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Real Estate Tips
First Time Buyers >Inspection Contingencies

Many of today's purchase offers include a contingency clause that allows the buyers to hire a home inspector or professional expert to inspect the property. If there is a significant defect in the property, the buyer can cancel the contract without losing the earnest money deposit. Contingencies are excellent procedures that protects both the buyer and the seller.

The time period for inspection contingencies is negotiable. In most parts of the country, the buyers have about a week in which to cancel the contract if the structural inspection reveals a serious and consequential defect. The positive side to such contingencies is that the inspection usually addresses--and overcomes--the buyers' misgivings, and confirms their decision to move ahead with the purchase.

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Real Estate Trivia
Q 
To what process do the terms closing, escrow, settlement and passing papers refer?

A 
These terms, which vary in different parts of the country, describe the conclusion of a real estate sale.
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Jim and Betsy Edwards, REALTORŪ, real estate agents and broker for Columbus, Upper Arlington and Dublin Ohio home listings, property and land for sale - NUMBER1EXPERT(tm)

Jim and Betsy Edwards
Keller Williams Classic Properties Realty

3518 Riverside Drive
Columbus, Ohio 43221
Phone: 614-325-1920
Phone: 614-560-1091
Fax: 614-451-1213
Email: edwardsteam@kw.com

Jim Edwards is a lifelong resident of Columbus, Ohio with fifteen years of residential real estate experience, six years of residential construction experience and twelve years of relocation experience. Jim is respected both as a real estate leader and a community leader because of his total commitment. Jim's satisfied clients from all walks of life and all over Columbus are a testament to his true professionalism, his vast knowledge and his ability to listen to people.

Equal Housing GRI MLS REALTOR


Keller Williams Classic Properties Realty real estate and homes for sale in Columbus, Upper Arlington and Dublin Ohio

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