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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Lori Cotter
Coldwell Banker Residential Brokerage
55 N Main St.
East Longmeadow, MA 01028
413-348-9259
Fax: 413-525-1288
lori.Cotter@NeMoves.com

Buying and selling your home involves some of the most important decisions that your family will ever make. My goal is to provide you with the best tools possible so that you are well informed and confident. I am a Top Producing Real Estate Agent with Masters Degrees in Finance and Accounting and certifications in Relocation and Negotiating. I will guarantee that you are receiving the best guidance possible. Let's make your Real Estate dreams come true!

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