I am writing a purchase offer for a FSBO home. How do I write an inspection contingency and how much money?

Asked by Michelle, Grand Rapids, MN Thu Mar 20, 2008

for repairs is reasonable?

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Melinda J. R…, Agent, Grand Rapids, MI
Thu Mar 20, 2008
Michelle, I agree with the other agents. You need some form of professional to help you out. Realize when you are filling out these forms they are contracts. Contracts are not potentially dangerous until you start writing on them. That is when things can get hairy. Real Estate agents and Real Estate Attorneys deal with these contracts everyday. I would guess this is the biggest investment of your life, so without getting yourself into a potential mess, it is advisable even though there will be fees involved, I am sure it will give you more peace of mind. There is a difference in getting it done and getting it done right:)

I hope this information helps! Best Wishes!
Web Reference:  http://www.gomelinda.com/
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smith3gary, Agent, White Lake, MI
Thu Mar 20, 2008
Michelle, I would have to agree with Maureen. We see lots of questions on Trulia and other websites where buyers find a problem, after the purchase, and now are considering legal action. The best time to prevent a problem is before placing an offer.

Please put yourself in our shoes. In Michigan, a real estate agent can only reprisent a buyers interests under a signed Buyers Agency agreement. If we were to place the clause you want online, we would then be liable for anyone using that clause and having a problem. ("a fine kettle of fish") Same if you were to contact anyone and ask privately.

Two websites for private inspectors on the website below. I suggest taking a step back and thinking before completing this transaction.
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Michelle Gor…, Agent, East Grand Rapids, MI
Thu Mar 20, 2008
There something called a transaction cordinator.............a Realtor can do this for a fee, (much less then a commision fee) why don't you ask the seller to use a transaction cordinator that way you can have all the legal forms approved by Grand Rapids Association of Realtors and thier lawyers, and make sure all your bases are covered. You guys could split the cost or make it part of the deal that they pay for it. I am sure in this market if that was the only thing holding you back from putting an offer on their home they would allow this.
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John Nicholas…, , Olympia, WA
Thu Mar 20, 2008
We have our own legal forms that we must use and cannot be provided to the public.
However, a stationary or office supply store may have something for you to use.
I would make sure it gives you an opt-out clause if you don't like the results of the inspection (returning your earnest money of course) and a way to address specific concerns.
The wording of how repairs should be done is VERY sticky and have gotten lots of people in trouble. If you are adverse to getting assistance from an agent or Realtor, a real estate atty would be in your best interest so you don't get stuck with a home you don't want.
Hope that helps.
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Maureen Fran…, Agent, Birmingham, MI
Thu Mar 20, 2008
I am going to suggest you get a lawyer or pay a Realtor to help you with your offer. Nobody here can legally tell you how to write an inspection contingency.

If you are just writing an offer now, I am not sure why you are already asking for money for repairs.

I think you need assistance that you cannot get from people answering questions on the internet.
Web Reference:  http://mibirmingham.com
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