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if I have the inspection expert to be at the property I’ve made an offer 3 weeks ahead of the closing date and if say…something bad happens to the pip for whatever reason (snowy cold weather…seller getting mad at the pipes(it’s a short sale vacant property..), I will not be able to tell myself when I go do the last minute inspection before the closing date. So is having the ‘professional’ inspection done when it gets closer to the closing date better? What's your thoughts on this?
Your contract can (usually does) include a clause that says the house must be in the same condition as when you signed the contract. So you have the capability of walking away if something breaks due to weather, etc. You might be able to sue if the sellers intentionally vandalized. In reality, though, walking away is probably the only or main recourse you have (as long as your contract includes this clause.)
It is a matter of degree. Almost always it is pretty clear cut.
If the place burns down or suffers major water damage you don't buy it. Leave it to the prior owners insurance.
If a light bulb burns out the buyer will almost always get stuck for it.
In between you dicker. If it is a big deal you don't close until it is settled.
I haven't seen one in a couple of hundred transactions. I know of one place where there was a bit of a P*ssing contest after it closed about a particular repair and how it was done. That is it.
So you arrive at a suitable arrangement.
Early in my career the brokerage forced me to close one against my better judgement. Cost the brokerage $10,000. I did protect my client. Was not really a repair issue though...it was an unpermitted addition.
You do have an inspection at the end...the final walk through. Your contract should be addressing the condition of the home from initial inspection to closing.
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