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First Time Buyers >Inspection Contingencies
Many of today's purchase offers include a contingency clause that allows the buyers to hire a home inspector or professional expert to inspect the property. If there is a significant defect in the property, the buyer can cancel the contract without losing the earnest money deposit. Contingencies are excellent procedures that protects both the buyer and the seller.
The time period for inspection contingencies is negotiable. In most parts of the country, the buyers have about a week in which to cancel the contract if the structural inspection reveals a serious and consequential defect. The positive side to such contingencies is that the inspection usually addresses--and overcomes--the buyers' misgivings, and confirms their decision to move ahead with the purchase.
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| Q |
Where are the highest median price homes in the United States currently located?
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| A |
According to the NAR, the highest median price in the second quarter of 2005 was $726,900 for homes in California's San Francisco Bay area. |
 See More Real Estate Trivia > |
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Wendy Thrane
Weichert Realtors
West Virginia licensed: Gina Chatham Broker
824 John Marshall Highway
Front Royal, VA 22630
540-683-1597
Fax: 540-635-1631
WendyThrane@NUMBER1EXPERT.com
Top 5% of Blue Ridge Board of Realtors
President's Award 2008, 2009
Licensed in West Virginia
Gina Chatham, Broker
663
Potomac Station Dr.
Leesburg, VA 20176
703-777-3977
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