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May/June 2003
Remove Home Purchase Risk
California Laws help protect the Buyer
When you make an offer to purchase a home in Southern
California, it is wise to include the demand for a professional
home inspection. The buyer and the buyer’s agent select
one of many licensed and insured home inspection companies
and have them do the inspection within the first week
of the transaction. The fee is usually $250 to $500
for the inspection and printed report, but well worth
it. The report can be all good, some minor problems
or expose a major hidden defect that could be expensive
to repair in the future.
Example of process: After obtaining the inspector’s
report, the buyer presents the seller with a list of
items that need repair or correcting. If the seller
agrees to the repairs, the transaction will continue,
but if not, the buyer can end the transaction and get
his deposit back quickly without any legal battles.
This is a wonderful protection for the buyer. Before
this inspection clause was permitted, the buyer took
the risk that the seller may be trying to sell with
hidden defects or problems and pass them on to the buyer.
This new process “Keeps the seller honest” and makes
purchasing a home the happy experience it should be.
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