Home Inspection Roof Contingency Clause Sample

The inspection contingency addendum allows the buyer of real estate to opt out of a purchase agreement if they should find material defects in the property.

Home inspection roof contingency clause sample.

An inspection contingency also called a due diligence contingency gives the buyer the right to have the home inspected within a specified time period such as five to seven days. This clause might allow for the buyer to negotiate with the seller about performing repairs for deficiencies outlined in the home inspector s report. The buyer and buyer s consultants shall have the right of access to the property for the purpose of conducting a home inspection at reasonable times upon twenty four 24 hours advance notice to the seller s agent. What are the pros of a roofing contingency contract.

Prepare a clause for the contingency that states you have the right to cure any issues the home inspector finds and set a base price limit. Inspections may at buyer s option and expense include but are not limited to. No oral or prior written agreements shall have any binding effect and this agreement shall supersede all prior writings statements or representations whether written or oral. The home inspection or due diligence contingency clause is designed to allow the buyer to back out of the transaction based on the home inspector s report.

Example home inspection contingency. Many home inspectors will not walk on a roof due to the possibility of damage and liability if the roof is damaged so some buyers hire a separate roofing company to conduct a roof inspection. It s in the buyer s best interests to use this addendum to allow home inspectors electricians plumbers or any other contractors to inspect the premises. Be cautious about hiring a company that stands to profit by installing a new roof to do an inspection.

For example you might say the buyer is responsible. Upon receipt of the results of such inspection the buyers may request in writing at any time within that ten 10 day period that the sellers make certain repairs or that the sellers reduce the sales price to compensate for such defect s. For one the roofer is further incentivized to do a well documented and thorough inspection of your home. Inspections for structural and mechanical matters pests including wood boring insects lead paint mold asbestos radon gas other hazardous substances underground.

The buyers offer is contingent upon a satisfactory inspection within ten 10 days.