Inspection Period Overview
After the contract is signed, the buyer will complete inspections within the timeframe specified in the contract — typically 14 days or less. During this inspection period, the buyer has the right to cancel the contract at any time and for any reason.
The buyer will select and pay for the inspector. They may schedule multiple inspections on different days, depending on the types of inspections requested. Inspections often include evaluation of the roof, foundation, structure, electrical, plumbing, HVAC system, sewer, and potential pest issues.
Your approval will always be requested for inspection dates and times, and no inspection will occur without your consent. We strongly encourage accommodating reasonable inspection requests to keep the transaction moving forward. Typically, the buyer, the buyer’s agent, and the inspector attend the inspection. It is generally best for sellers not to be present.
After the Inspections
Once inspections are completed, the buyer may request repairs, a price reduction, or other concessions. You have the right to accept, reject, or negotiate these requests. You are not obligated to agree to any repairs or credits unless previously agreed in writing.
In many cases, offering a credit or price reduction is preferable to performing repairs, as it limits liability and keeps the process simpler. If negotiations are unsuccessful during the inspection period, the buyer may cancel the contract and retain their deposit.
Once a resolution is reached and the inspection period expires, the likelihood of closing increases significantly.
Wood-Destroying Organisms (WDO)
One of the most common inspection issues involves evidence of wood-destroying organisms (WDO), such as termites. Most lenders require confirmation from a licensed pest control company that there are no live termites on the property before approving a loan.
If there has been past termite treatment or damage, it is helpful to have recent documentation or a warranty from a reputable pest control company verifying that there are no active infestations.
If you have any questions at any time, call us 941-323-8685.
Sarasota Home Sales Team 