BINSR is Buyer Inspection Notice and Seller Response
Inspection Period Protects Home Buyers
The Inspection Period gives the Arizona home buyer an opportunity to investigate a home thoroughly to see if there are any hidden issues.
On the other hand,the Inspection Period is one of the most complex parts of buying a home. Mismanaging your opportunities can be disastrous for you. Meeting all the deadlines in the contract is critical.
Buyer’s Inspection Notice
If you want to request some repairs, you will use the “Buyer’s Inspection Notice” form to notify the seller of your requested repairs. The “Buyer Inspection Notice” must be delivered to the seller within the Inspection Period which is usually ten (10) days from the time the final counter offer was signed by the seller. (or an agree upon timeline between the buyer and seller.)
Once the seller receives the “Buyer’s Inspection Notice” with the requested repairs, the seller then has five (5) days to respond.
The seller can;
* Agree to make all requested repairs.
* Agree to make some requested repairs.
* Refuse to make any repairs at all.
The buyer has five (5) days after receiving the “Seller’s Response” to decide whether to, essentially, take it or leave it.
The buyer, can;
* “Take it” and agree to move forward with the purchase of the home with only the repairs the seller agreed to make.
* “Leave it” and cancel the contract altogether. This must be done within five (5) days of receiving the “Seller’s Response”.
Author:Lynda Western Phone: 602-919-0857 Dated: April 4th 2017 Views: 449 About Lynda: A family oriented person, Lynda has a passion for helping people in unfortunate situations. An Ariz...
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The partners of Re/Max Preferred Choice specialize in both the purchase and sale of residential and commercial real estate, as well as providing property management services. We have been in business since 1996 and have a long history of providing exceptional customer service to our agents.
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"Thank you Justin Schlegel for your wonderful help in the sale of our AZ property. We appreciate your professionalism, competence, and hard work as our real estate agent. You did an outstanding job applying your savvy and judgement in various ways, including your market research for the listing price, and your efforts to identify and interact with prospective buyers and their agents. Selling this home presented several occasions when your assistance was most needed, and we appreciate all that you did to perform in a stellar manner. As a result, we had a superb experience working with you and your above and beyond efforts are second to none."
Chad & Elizabeth in Peoria, on behalf of Justin Schlegel