Currently looking to relocate to TX from PR and not sure how and when in the process inspection of the home take place. Construction is totally different from PR and I'm afraid to buy a home with issues.
Inspection is very crucial as it will let you know if you have to spend less or more before moving in. Usually, it is done after the contract execution.
Hi Yasmin just wanted to say Welcome to Texas we are happy to have you! This is a great question and this is done during the option period just after contract execution. Please reach out anytime, I am always happy to help!
Hi Yasmin, I hope you found your home and you had a smooth transition. After the contract executed meaning both parties sign, you pay (option money) for an agreed number of days (option period) during which you do inspections.
Option period is best time to schedule an inspection of the house. I recommend my clients to order it as soon as earnest money and option fees are paid, so that have enough option period days in hand to negotiate repairs.
It is recommended after the contract is executed, which will start the option period. On the other hand, some investors purchase property without the contingency of inspection because they have rehab plans. The buyer also has the option to waive the inspection, but it is not encouraged. Real Estate Agents and REALTORS will suggest having an inspection and some will provide a list of local inspectors to their clients.
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Here is an explanation of what an inspection is and what it covers. You might need to copy and paste the link. https://www.har.com/consumer_knowledge_...
Keep it safe and find out if the home has problems or many things that could cost a lot later! Always get an inspection it's the right thing to do! #Anthony Taylor Realty (.Please contact my office if you still need help an have a great time in Texas.) Thanks Anthony Taylor Realty 832-819-4287
Please hire a realtor. You will not pay anything as a buyer. You should schedule your inspection as soon as you have the house under contract so you have enough time to negotiate the repairs during the option period.
In Texas when purchasing a Residential property , Buyer is highly encouraged to pay for Option Period, which is a certain number of days that allow the buyer pay a TREC authorized inspector to inspect the house.Option Period starts counting after offer is executed.
I apologize for the late response to this, however, I have been digging into what an inspection actually does, and from my understanding, the 1-4 Family contract for residential re-sale is not contingent upon the inspection, or the house being in any predetermined condition, or state of condition. This makes sense as often investment properties will be presented to the public for sale in conditions that are far less than what one may consider livable, while other properties will be filled with amenities not standard in your more common single family residence. The contract itself does not lay any requirements on the buyer or buyer's agent to obtain a property inspection at any given time. However, best practices will dictate that if your buyer is paying the seller any amount of money for the unrestricted right to terminate known as the Option Period, if the buyer has any concerns that the house may or may not fit their standards concerning the condition they should obtain an inspection at that time, so that the buyer has the opportunity to terminate the contract without penalty. Because this happens so early on into the contract often the lender can wait to order the appraisal until after the inspection has been completed and the buyer accepts the property. This will save your buyer the expense of having to pay for an appraisal for a property they are no longer interested in. I was hoping to find rules regarding this situation, as it is a complex question involving many moving pieces and parts to the contract. While this is an answer long time coming, I hope that it helps you!
Home inspection should be ordered as soon as there is an executed contract. Time is of the essence during option period and so that will need to be done ASAP so your client is able to decide whether they would like to proceed with the purchase of the home or back out and recoup their earnest money (1% of offer amount).
Great Question. The home buying process has many layers to it. The quick answer is that inspections take place during the option period. However, one might ask, "What is the option period?", "When is the option period?", and "how long is the option period?" Answers to these questions and guiding families through the Home buying process are a Realtors most valued assets.
Once you have chosen a home, it is important to communicate with your Realtor, not only regarding the offer price but also the option period. How long do you need to conduct the desired inspections? Moreover, Option Periods are a non-refundable cost, "How much are you willing pay per day of an option period? Once you have determined these details and a number of others, your realtor will submit the offer with your signatures of commitment to the offer terms. Next, the Seller will accept the offer and sign, this completes or executes the contract as binding. Once executed the option period clock begins, and the agreed upon length of time begins. It is important to understand the amount of time that each phase in the process is allowed. The option is a hard deadline, if you do not complete your inspections in the designated time, you may be locked into a deal, and later find some serious issues.
With this in mind it is important to find an experienced realtor, with a variety of relationships including Inspection professionals, to ensure you conduct all necessary inspections in a timely manner.
I work with many very reputable inspectors, including General, Termite, Foundation, even electrical and plumbing specialist. Keep in mind a general inspector does not specialize, so if a concern arises it may be necessary to call in a licensed specialist to confirm and analyze the issue. Don't get stuck in a money pit. Give me a call or text to discuss more.
Mark A. Villarreal 713-805-6549 www.maverickhoustonrealestate.com
At what point CAN an inspection of a home take place is far different form at what point SHOULD a home inspection take place.
An inspection CAN occur any time you're under contract to purchase a home, however, most buyers (and agents) find it advantageous to inspect during the option period (the length of the option period is a negotiable item) and believe this is when you SHOULD inspect.
I agree - inspecting during the option period affords buyers the unrestricted right to terminate should they find something in the inspection that can't be taken care of either in repair negotiations or that they're unwilling to address after closing.
Inspections should be scheduled IMMEDIATELY after you have come to terms, executed contracts and delivered Earnest Money and Option Fee. Your option period is normally between 7 and 10 days, so you need to work fast on this.
When myself or any of the Agents take on a listing for sale, our in house inspector / contractor visits the home with the Owner and points out areas of concern at no charge to the Seller. We then recommend the seller to fix or correct only those certain items we anticipate could benefit the sale. The actual inspection hired by the buyer then takes place as soon as a contract is executed and during the Option period which usually is about 10 days long.
Depending on whether you are buying already a built home or constructing one. For already built home you have answers from different realtors when to do inspection and that is during your option period. It is always advisable to have inspection done during different construction phase. Normally you can hire an inspector to help you with the complete phase of build starting from pouring of foundation slab.
If you are worried about buying a bad home, spending money on inspection is the right way to go.
We work with clients relocating from across the country and world and every areas differ on how the real estate transaction is handled according to the state. Your Realtor can guide you through the contract process. In short, for a resale property you conduct your inspection during the Option Period / Termination Period. Your Realtor will negotiate this amount of time in the contract up front and, once the contract is executed, you'll pay the Seller (agreed amount in the contract) for the ability to have the Termination Period for which you'll conduct inspections. The inspector and your Realtor should discuss the inspection and items that are "typical" for the age of the home and those that are a concern / warrant further investigation, require repair, etc. at which point you can decide how you want to proceed. Your Realtor should also inquire with the Sellers' agent to see if there are any recent inspection reports available to review (required to provide if available within the last 4 years). New construction properties, on the other hand, typically leave time for a third party inspection after the home is complete and ready for the punch walk - even more reason to have a Realtor when you are purchasing new construction.
Happy to discuss further if you have any other questions.
As soon as the contract has been signed by seller and buyer, and has been executed. On the date of execution is day 1, So if your seller signs your contract at 11:00 Pm and executes on the 11: PM date, then you lose a day. Make sure you ask for a additional day. If you know seller will sign, hand over the option check and earnest money to your seller.asap along with the earnest money. on the day, you as a buyer puts in a contract, you should have all your inspectors in hand.What are important inspections.(1) A Normal inspection, (2) Ask the seller permission to check the AC.(3) Hydrostatic-for plumbing.(4) Termite inspection(5) Roof. (All these inspections will save you in the long run) By Day 3 All inspections need to be completed, if its a 10 day inspection, Day 5 Sit with your agent and start discount price or ask seller to do repairs. Send out a Amendment of Repairs or a amendment with discounted price. Or if your buyer has a cheaper alternative to fix the home ask for closing cost. But I would keep my buyer ready with all inspectors on day 1 of showings after the contract has been signed
When purchasing a home, you first go through an option period, which is when inspections take place. The period allows you to terminate the transaction based on your finding. I've owned and sold my home in PR and have also relocated to TX from NY.
An inspection of a home takes place after a contract has been executed, signed by both the seller and buyer. On the contract is an option period that allows you time to schedule an inspection. Usually on the contract you have 7 to 10 days to complete the inspection. Call Me 832-939-1701
Not before you have a contract signed by the seller or else another buyer could come along and your money and effort would be wasted. It's a good idea to act quickly once the contract is executed. If an option period or inspection period is in the contract, you will want time to negotiate repairs. If there is not an inspection period, it's still better to have adequate time to have the builder make corrections or call in qualified experts. Not all contracts have the possibility of an option period.
Hi Yasmin, Welcome to Texas. Inspection takes place depending on the house built or being built. If you buy from dirt which means house to be built, you can get it inspected in every stage of construction, which is mainly before and after pouring slab, framed, sheet rocked, and final completion. For an existing house it will be during option period, which is the time your offer has been accepted and you asked a period of time to conduct your due diligence. This period is usually 7 to 10 days. Inspections are conducted by real estate inspectors. Real estate inspectors are also certified by TREC Texas real estate commission just like real estate agents. Contact me, I would love to assist you in your home buying process.
A home inspection may take place at any point during the executed contract (when both parties have signed). Assuming you have paid for an unrestricted right to terminate (also known as an option period), it is advisable to have the home inspected quickly and thoroughly by a licensed inspector in order to negotiate repairs. In the case of new construction, you will want to have every phase of the home building process inspected. There are many different scenarios that may take place in every circumstance of the home buying process and the reality is that it looks quite different than HGTV. Please know that a real estate professional that works for you-not the seller-is your best ally and can help guide and advise you through the process as well as handle negotiations, and the great news is that in most cases it doesn’t cost you anything! Please feel free to reach out to me any time, I am happy to help in any way!
Kind regards- Steve Montgomery KW Premier 281-387-6913
You can choose to have an inspector follow the construction from the pouring of the slab through walk through or you can choose to have the home done prior to the first walk through after completion. Both are effective. I prefer from the beginning as once completed no one can see inside the walls, under the flooring, etc. The beginning with the slab pour and framing, sub floor are important to the look of the finished product as well as maintaining the integrity of the home. Level flooring, no leaks, no squeaks, no bowed walls, windows and doors in plumb. I could go on and on, but you get the picture
The best time to have an inspection done is as soon as possible after getting into contact, during your option period. That way if something comes up on the inspection that you don’t like There’s plenty of time to have the seller make necessary repairs or negotiate.
Welcome to Texas! It is important that you work with one Realtor who gets to know what is most important to you and is dedicated to representing only you. Any of us are happy to talk with you to explain how important this is in Texas. As most have pointed out, you can buy an option period during which you have inspections done to help identify hidden problems with a property. Sometimes, sellers have inspections done prior to putting their house on the market and that information may be available to you as well. And something I did not see mentioned that is rare - if the seller agrees, you can do an inspection of the property prior to writing a contract. It is definitely not the norm, but I have done it when someone had a particular concern. Good luck in your search and I would be happy to talk with you further about your plans, needs, and wish-list.
Hola, Yasmin. Welcome to Texas. Inspection can only take place AFTER you have made an offer on a house and the Seller has accepted that offer. Your contract/offer will have been written by a competent Texas licensed agent and will include a 7-10 day (typical) Option Period for you to have time to inspect--and have a professional inspect--the home you intend to buy. If you don't like the results of the inspection, you can walk away from the contract as long as it's within the window of time (again, typically 7-10 days) stated in your contract.
There is NO guarantee that an inspector will uncover everything that could be wrong with a home---that's just how it is. There are major issues and minor ones. Your first "line of defense" or "screening" is to have a competent buyer's agent representing you---someone who knows the red flags to watch for and will alert you before you even consider making an offer on a home. For example, here in Houston you want to pay particular attention to foundations, prior foundation work, and previous intake of water. Working with an exclusive buyer's agent you can be assured you will get the best "pre-screening" the industry has to offer.
I don't care how much clients think the house is "a wonderful fit" for them---if I see a red flag and they insist to see the house, I drop them as a client. Again, there are no guarantees, but you can be assured I won't show you a home I know or suspect to have problems---and no licensed agent should do so either. Unfortunately, that is not the reality. Have you heard the phrase, 'Buyer beware"? Whom you choose to represent you in the purchase of a home is the greatest factor in determining your success and satisfaction with the purchase of a home.
Find the right agent, find the right home, and then your agent will refer you to a licensed inspector....and your worries will melt away. I can find the right home for you in Texas in no time.
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https://www.trec.texas.gov/public/consumer-information\nhttps://www.trec.texas.gov/public/frequently-asked-questions (scroll down to Inspection secti...
The inspection is done during your option period. This is normally 10 days but can be whatever your realtor negotiated. You want to have inspections ASAP in case there are issues you have time to get quotes from contractors.
Do not be afraid, we are here to help you. I will guide you through the process, to have a stress-free transaction. How does it work: With me as a real estate agent; We choose some houses to visit, we will select the house that visually seems to be in the best conditions, we will present an offer, when the offer is approved, you will have 10 days to carry out all the necessary inspections to know the conditions of the property; such as; General, Termite, Foundation, Hydraulics, which will provide you with professional reports on the conditions of the property. At this point you should not be afraid, after reviewing the reports, we could; 1 -Request the owner to repair the problems found in the property, and proceed with the purchase. b.-If there are some things that will cause a large amount of money to repair or cause damage to your health, we can withdraw the offer without any legal consequences, it's that easy. Call if you need more information, I will work for you in a professional, respectful, and private way, that you deserve.
Rosa Burk 832-265-4242 rosa@rosaburk.us.com
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Har education, Champion schools of Real Estate education, personal research, many years of experience in this business.
The home inspection usually takes place shortly after the seller accepts the buyer's offer. Once the purchase agreement has been signed by both parties, the house goes into escrow. This is typically when the home inspection takes place.
Home inspection take place during the option period. Typically a 10 day period that starts when the contract is executed and option fee and earnest money have been delivered.if you have any further questions, give me a call Sherry 281-746-5088
Well welcome to Texas. You will have an option period normally your first 10 days from the time the contract is signed, to get the inspection done and contact any contractors that you would like to evaluate any issues that arose or maybe you want to see if the house will be able to accommodate a pool or an addition to the home. You can theoretically do your inspection anytime, but during the option period you can walk away with your earnest money and only have lost your option fee check, normally $100, and whatever the costs of the inspection is and move on with out being obligated to that house. After the option period there are only few very specific reasons that you can back out of buying the house.
This is a great question and very important to the process of buying a home. During the option period Is the best time to have the inspection done. Therefore if you cannot negotiate anything that comes out of the inspection you're still in your option. Where you can back out and receive your earnest money back. If you need more clarification, please feel free to call me please, at 832-250-8765
Texas Contracts allow for you to enter a purchase agreement with an Option Period. You will pay a nominal amount for an agreed number of days during which you will do inspections and due diligence. You will negotiate repairs and if Buyer and Seller agree you will move forward. If not, you can withdraw from the contract and only lose the Option Fee.
Yvonne is correct. The inspection of a home can take place as soon as the last party (typically the seller) has signed the contract agreeing to all terms. You will have 7-10 days from this point (known as your option period) to have the inspection completed and repair requests negotiated. Hope this helps!
When a contract has been signed option and earnest money is turned in within the 3 days of signing the contract. The 10 option period start immediately after and there should and need to be an licensed home inspector in the home right after 281-782-6845 More Questions.
As soon as the home is under contract you are allowed to do an inspection. This will most likely be under the Option Period. Most Realtors like for the Option Money to be paid first but you can still do the Inspection even before you pay the Option Money.
Home inspection can take place during the option period. This starts once the contract is executed and option fee and earnest money have been delivered.
In Texas you get the home inspected during an "Option Period" (depending on what you and your agent negotiate, it could be anywhere from 2-10 days; in most cases buyers ask for 7-10 days). That's when you negotiate repairs as well.
During the Option Period is when you- as a buyer- have an unrestricted right to terminate the contract for any reason.
Having an experienced Realtor working on your behalf is free to you- the Buyer, so I hope you won't go into this alone; rather have someone who is an expert help you. Thank you,
Yvonne Chauvin- REALTOR® MCNE, CNE Better Homes & Gardens Real Estate Gary Greene YvonneChauvin@yvonnechauvin.com Cell: 281-686-0143