An inspection contingency clause gives you an “out” on buying the house if serious problems are found or give you the ability to renegotiate the purchase price if repairs are needed. An inspection contingency clause can also specify that the seller must fix the problem(s) before you purchase the house. You could also look at another house if the inspection doesn’t give good results. It’s best to have an inspection before you sign a written offer since, once the deal is closed, you’ve bought the house “as is.” Or, you may want to include an inspection clause in the offer when negotiating for a home.

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Scott Nachatilo

Hi, I’m Scott Nachatilo and I own a property management company in Oklahoma (OKC Home Realty Services, LLC). We help landlords and real estate investors to manage their property in OKC