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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.
Vince Scott/Kristen A. Gil Intero Real Estate Services Broker/Owner, Realtor 6990 S. McCarran Blvd. #300 Reno, NV 89509 Office: 775-762-7653 Fax: 775-284-8315 vscott@interoreno.com kgil@interoreno.com
We are a dynamic Real Estate team with over 35 years experience in the Reno/Sparks and Tahoe markets. We are very knowledgeable about Short Sales, Foreclosures, Investment properties and 1031 Exchanges, in both Nevada and California. Vince is widely known as one of the premiere developers in the area. His accomplishments include construction development, brokerage and management of single and multi-family, commercial, hotel and resort properties and the responsible development of some of Tahoe’s most difficult and challenging environment projects. Kristen is a Short Sale Foreclosure Resource with the National Association of Realtors and a licensed property manager. She has extensive experience working with distressed sales and investors in our market. Hiring a successful, experienced team is critical in today's difficult Real Estate climate. Call us, we can help you navigate through the complicated web that Real Estate has become. We are your friends with the answers!
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