Inspection Contingency

This is usually an additional term to the form contract (via an addendum). It allows the buyer to inspect and approve of the physical condition of the property before having to complete the purchase. Usually, the buyer will find a few issues of concern, and will then ask the seller to correct them. Some minor renegotiation of the contract usually ensues, and the contract almost always stays on track. But it can be a stressful period.

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