Key West Real Estate Inspection clause

The Real Estate inspection clause is a very important safeguard for the Key West Home buyer. Two types are commonly used. The first gives the buyer the right to have the property inspected by a professional home inspector of the buyer's choice and at the buyer's expense. If the inspector finds defects, the buyer has the right to cancel the contract within a specified time. This type of rider raises some of the same issues as an unrestricted attorney-approval rider, since inspectors often find problems in homes. Thus, it can give buyers a few extra days to decide whether they want to follow through with the real estate purchase in Key West.

The second type of real estate inspection rider gives the seller time to either repair any problems uncovered by the inspection or agree to reduce the selling price contained in the contract by the cost of repairs. If a seller opts to do nothing, he or she must inform the buyer. Unless the buyer and seller can come to terms based on the buyer's Key West inspection report, the buyer can cancel the real estate  contract and seek return of any earnest money previously paid.

Some people prefer the first Key West  inspection rider described above. Although it is open to occasional abuse by fickle buyers, its simplicity generates fewer back-and-forth discussions between the buyer and seller. If there is a serious problem and the seller really wants to sell, the parties usually can make a new deal.

Still, the choice is yours. Just remember that a real estate purchase contract is no different in principle than any other contract its terms are negotiable. By using real estate properly drafted riders, you may quickly turn a form contract into one that deals with your personal concerns.