What is the catch? Why termite is done after 2 to 3 weeks of inspection and Radon testing? Any significance to mortgage?
Inspection timeframes are usually established within a specified time of execution of contract. 2-3 weeks are execution seems to be quite a long contingency period, considering that the inspections themselves can be performed relatively quickly.
As for significance, the wood infestation inspection may be required by the lender, but the radon is more for your personal knowledge.
Hello Truilauser09!
Well, yes it depends on the Mortgage you are getting because some Mortgage Loans like VA and FHA require a Termite Inspection but you should have known about this when you received your pre-qualification letter and/or when you made your offer. It seems that your Real Estate Team just missed telling you about it.
All Inspections that are part of the PA agreement of sale must be completed and negotiated within a standard time frame of 15 days unless you selected another date on your agreement.
I can only assume that you did not select to get a Termite Test as a condition of your offer to the seller but you are getting a VA or FHA loan and they require this document prior to your settlement.
I hope this information helps you.
This question seems odd, most inspections are carried out within 14 days of the execution of the agreement of sale, that is when both parties, buyer and seller have signed an agreement of sale with acceptable terms to both parties. Part of this is when inspections will be carried out and they are usually done as soon as possible after the execution of the agreement so that any issues that might arise can be negotiated within the given time frame in the agreement of sale. Is this for a resale or new construction?
Hello again Truilauser...so we meet again!
The inspections should be done at the same time, or certainly within a few days of each other if there are scheduling problems. The radon test takes a few days to complete, as does the report.
I see no reason why anyone is waiting 2-3 weeks to complete those inspections.
There is no "catch" - there shoud be no such delay.
Best wishes
Debbie Rose
Prudential NJ Properties
Home inspections and Radon testing are usually part of the contract and need to be done within a certain time frame. Then once the loan goes through processing, some lenders will required the termite inspection.
Explain the situation. As the buyer, you should be coordinating the inspections. Sometimes, the company doing the home inspections are tied up in the pest/radon part of it. It's usually a different inspector.
Clarify the problem so that we can give a better answer.
Terrence Charest, e-Pro
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