Is it common for buyers to include an inspection contingency in an offer for a St. Simons Island Georgia home?
An “inspection contingency” protects you as a buyer in a purchase offer by allowing you to cancel closing on the deal if an inspector finds problems with the property. As soon as the seller accepts a written offer, the document becomes a legally binding contract. The purchase contract can be written to include a contingency for any repairs found to be needed or related items the seller must take care of before closing. If these are not dealt with, and you have such a clause in your contract, you can delay or possibly cancel the closing. If it´s not stated in the contract, you could face losing your deposit. There also may be costly legal implications stemming from backing out of a contract.
Related Questions
- Is there and ideal time of year or season that is more beneficial for buyers in the St. Simons Island Georgia, Sea Island Georgia or Brunswick Georgia area?
- Is it common for buyers to include an inspection contingency in an offer for a St. Simons Island Georgia home?
- What determines the price of a home in the St. Simons Island Georgia, Brunswick Georgia and Sea Island areas?
