By MetroList.com on
When an offer to buy a home is accepted, it can be easy for both the buyer and seller to feel that they’re safely at the finish line. The acceptance of an offer brings the deal much nearer to the closing table, but there are still important steps the transaction must go through before the deal is complete. Typically, a buyer’s offer comes with some contingencies, the most common being Contingent Upon Home Inspection. A home inspection is conducted by a licensed professional who evaluates the property from top-to-bottom to identify any parts of the home that are out-of-code or in need of repair/replacement, and provides the buyer with a detailed report of the home’s structure, plumbing, electrical, foundation, roof, etc. Home inspection clauses allow a buyer to back out of a deal without losing their deposit if the home inspection results are not satisfactory. If the buyers still want the home, they will begin the negotiation process.