Cj, Home Buyer in Long Island, NY

Home inspection first, the sign purchase/sales contract?

Asked by Cj, Long Island, NY Thu Jan 31, 2008

Already have an offer approved by the seller. My lawyer and agent advise to have the inspection first berfore signing any purchase/sales contract. But seller can still entertain offers. I'm worried about seller getting another offer (because seller still has an open house the day after my scheduled home inspection) and i don't want to waste my money on the inspection if i'm not assured if seller will sell the house to me. i read online that purchase/sales contract indicating the inspecion clause is signed first before the inspection. Only thing I signed so far is a sales binder agreement provided by my agent , which i think does not help me a lot. Please advise what to do on this situation....Thanks.

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Joe Sorrentino’s answer
Every part of the country and, I guess, every part of NY does things differently. I cannot figure out why you would want to spend maybe $300-$500 for a home inspection on a house that you do not have a binding contract on or, a commitment from the seller on. In Erie county (Buffalo NY) we are a bit more conservative. The steps are; you present the offer, it gets accepted, it goes to both parties attorneys review it and issue an attorney approval, after which you have 5-7 days to have an inspection.
1 vote Thank Flag Link Thu Jan 31, 2008
As a Realtor in Long Island, I have to tell you the practice here is very different from the rest of the world. Yes, the inspection is done before the seller's attorney will issue the contract. There are no guarantees in life.

Get a good inspector (I would be happy to make recommendations) and do it FAST! Make sure he has a PE. As soon as that is done, as your agent to make sure you have a "first accepted offer" when someone calls the office for an appointment.

Make sure everyone follows up with the seller's attorney issuing the contract right away and see that your attorney reviews it as soon as he/she receives it.

Don't worry...it will probably all be fine. This is done here every day.
Web Reference: http://GailGladstone.com
1 vote Thank Flag Link Thu Jan 31, 2008
Will the Seller of this house sign a contract subject to your approval of an inspection report to be conducted at your expense within a few days of your mutual agreement. Your agent or lawyer should have contract language to address this - at least we do in my state.

Different states have different customs and procedures so your agent and lawyer would be the best ones to advise you.
Web Reference: http://www.toonpawley.com
1 vote Thank Flag Link Thu Jan 31, 2008
Listen to your lawyer. Think of it this way, your lawyer knows you're emotionally attached to purchasing the house, what it there was a problem with asbestos uncovered, wouldn't you want the problem corrected before signing the contract? Your lawyer is looking out for your interest and will recommend having the problem fixed before contracts.
0 votes Thank Flag Link Tue Mar 4, 2008
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