Know What You Are Buying Your opportunity to find out exactly what you’re buying
Section 1 Conditions demonstrating active infections or conditions damaging the property. Active termites, beetles, or wood rot are examples of Section 1 items. Section 2 Conditions not currently causing damage but likely to, if left unattended. A typical Section 2 item is a plumbing leak where moisture has not yet caused fungus decay.
Inspections are an important part of the buying process and allow you to fully understand any issues or challenges with the property before closing the transaction. If the seller has not provided inspections ahead of time, you may decide to write your offer with an inspection contingency. This is one of the more common contingencies that buyers use. A contingency means that you will only go through with the purchase if certain conditions are met. Home inspections should be only done by a certified home inspector. Often, a seller will have inspections completed before placing their home on the market to remove the “contingency” from the buyer’s bid. Ultimately, it is the buyer’s responsibility to assess the condition of the property. Pest Inspections Pest inspections are done by a licensed inspector who will look for wood-destroying organisms, including termites and fungi (“dry rot”). Pest reports classify conditions as Section 1 or Section 2 items.
The inspector is responsible to deliver an unbiased report.
If damage is found in the property, such as a crack in the foundation or a roof that needs to be replaced, we can take these into account in our offer or we may be able to negotiate with the seller on remediation options.
Von Kaenel Giambruno Real Estate Group | 17
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