Inspection Contingency Clause: What Is It And Why Do I Need One?
The Inspection Contingency Clause allows you to bring in a home inspector shortly after the contract is signed (typically within the first five business days) to examine the property for any physical defects. You have three choices as to whom you will choose to perform your home inspection. First, you may hire a professional home inspector. Professional home inspectors typically charge between $200 to $400. Condominium units are typically at the lower end of the fee schedule, whereas single family homes and two flats are at the higher end of the fee schedule. Your second option for a home inspector is to bring in a knowledgeable friend or relative. Your third option for a home inspector would be to conduct the investigation yourself. If you are purchasing a single family home, a two flat, or other free standing dwelling, I would suggest in the strongest possible terms that you hire a professional home inspector, because your inspection is critical for these types of properties. On the
