A seller and the seller’s broker need to disclose to a prospective buyer all known and observable property conditions and defects which adversely affect the value of the property.
Without a home inspection report (HIR) delivered by the seller or seller’s agent, a buyer’s agent becomes duty bound to request one before submitting an offer. [See RPI Form 130]
The purpose of the home inspection is to have an independent, neutral, third party investigate and prepare an HIR on the physical aspects of the improvements on the property. An HIR from a competent inspector assures a prospective buyer the property is free of defects, except those listed on their inspection report. [See RPI e-book Real Estate Principles Chapter 21]
is a Writer & Editor at firsttuesday. Amy obtained a Bachelor of Arts degree in English from the University of California, Riverside. Amy has worked at firsttuesday for three years and works on the firsttuesday Editorial Team. She enjoys poetry, yoga and dancing.
November 12, 2013
WHERE IS THE FORM FOR 1. CASH BACK TO BUYER TO MAKE THEIR OWN REPAIRS SO SELLER IS NOT INVOLVED IN ANY WAY AND 2. STATEMENT THAT AFTER AGREEING TO A CERTAIN SUM OF MONEY TO BUYER, SELLER NO LONGER HAS ANY LIABILITY FOR ANY REPAIRS NOT NOTED BEFORE CLOSE OF ESCROW. FOR EXAMPLE, I HAVE A SELLER WHERE THE BUYER SENT A SEWER CAMERA AND SUPPOSEDLY THE SEWER AT FOOT 96 (OF A TOTAL TO THE CITY LINE OF 109) HAS A BREAK. IF SELLER AGREES TO X DOLLARS TO BUYER WE OBVIOUSLY WANT A HOLD HARMLESS CLAUSE FOR ANYTHING ELSE RELATED TO THIS SEWER PROBLEM IN THE FUTURE. THANK Reply
