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First Time Buyers >Inspection Contingencies
Many of today's purchase offers include a contingency clause that allows the buyers to hire a home inspector or professional expert to inspect the property. If there is a significant defect in the property, the buyer can cancel the contract without losing the earnest money deposit. Contingencies are excellent procedures that protects both the buyer and the seller.
The time period for inspection contingencies is negotiable. In most parts of the country, the buyers have about a week in which to cancel the contract if the structural inspection reveals a serious and consequential defect. The positive side to such contingencies is that the inspection usually addresses--and overcomes--the buyers' misgivings, and confirms their decision to move ahead with the purchase.
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| Q |
What Newport, Rhode Island mansion was built as a birthday present and incorporates 500,000 cubic feet of white marble?
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| A |
The Vanderbilt Marble House was constructed by railroad baron William K. Vanderbilt for his wife Alva, who later divorced him, remarried and moved into a mansion down the street. |
See More Real Estate Trivia > |
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Christine Demonbreun and Debbie Nunn Keller Williams Realty 2271 Wilma Rudolph Clarksville, TN. 37040 Phone: 931-648-8500 Fax: 931-648-8551 Cell: 931-320-2133 Cell: 931-320-1651 Email: christinedemonbreun@NUMBER1EXPERT.com
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