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    (386) 243-0124

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What is a Home Inspection Contingency in a Real Estate Purchase Contract?

what is a home inspection contingency - lake city farms and ranches for sale

When you buy a cattle ranch in Lake City, a home for sale in the area, or anything else, the transaction depends on the home inspection—and your Lake City Realtor® will write your purchase offer to include a contingency that says if the inspection turns up something you’re not willing or able to deal with, you can walk away from the deal.

What is a Contingency?

Any condition that you or the seller must meet to complete a real estate transaction is a contingency.

What is a Home Inspection Contingency?

A home inspection contingency says that if something big turns up in the inspection report—something that you’re not able to deal with, you don’t want to pay to repair, or something that changes the way you feel about the house—you can leave the transaction and keep your earnest money deposit.

If something like that does come out during the inspection, you can ask the seller to fix it, ask the seller to come down on the price (because you’ll have to fix it), or walk away from the deal.

Are You Buying a Home or Property in Lake City or the Surrounding Communities?

We’d love to help you find the right house, ranch, timberland, or property. Call us at 386-243-0124 or get in touch with us online to let us know what you need.

In the meantime, take some time to explore:

  • Waterfront residential
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  • Bank-owned and foreclosures
  • Short sales
  • Paved road frontage
  • Non-deed-restricted land
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  • Land for land home combo

 

Posted in: Blog, Buyers, Buying, Sellers, Selling Tagged: Contingencies, Home Inspection Contingency, Home Inspections, Real Estate Purchase Contract

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250 NW Main Blvd #75
Lake City, Florida 32055

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Search Smarter

Did you know the hottest North Florida land for sale often sells within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest land as they hit the market! Simply click the button below and choose the types of North Florida land you are looking for and save your search to start getting alerts today!

New Property Alerts

As a local expert, I also have access to North Florida land for sale before it hits the market and can show you more information that is only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact me contact me at your convenience. There is no obligation and or pressure... I hope to hear from you!

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