Real Estate Development : Principles and Process

If you are a first time buyer you should have each and every one of these pieces of “boilerplate” explained to you. They are routine to your agent who has probably prepared dozens if not hundreds of offers, but don’t let her blow through them. An offer is not routine to you and it is your house, your money, and your blood pressure.

Some states have disclosure forms relating to structural inspections. There may be a leaflet informing buyers of their right to such an inspection and, of course, a form to acknowledge receipt of the leaflet. In some states an agent is prohibited from providing the name of specific inspectors, but must inform a buyer where to obtain a list of these professionals …and get signed a form that verifies he did so. In areas where Radon has been identified as a problem, either in the water or air, there are other brochures and other forms to sign to prove that the buyer has been informed of the possibility of problems.

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