Q: Why should I sign the contract before the home inspection? What if something is wrong and we don’t want to buy the house after the inspection?
A: Because that’s the way we do it here in Pike and Wayne County, PA.
Please forgive me for being a smart-aleck. The truth is, it’s for your protection as a buyer. Think about it. You find a house you love, maybe a lakefront home on Lake Wallenpaupack, and decide you’d like to purchase the home, contingent upon satisfactory inspections. So, you contact a home inspector who tells you he’ll inspect the home sometime next week.
Great. Once the inspection comes back clear, you’ll sign the contract, right?
You hire the inspector, and pay the $250 – $500…and then you contact your real estate agent to write up the contract.
Uh-oh. It’s already under contract. Someone else beat you to it. And you’re out the inspection fee.
The contract is contingent upon satisfactory inspections; so if there is something wrong with the home you can negotiate further with the seller. It’s in your best interest to enter into a contract before having the home inspection.
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Karen E. Rice is a real estate agent working in Pike & Wayne County of Northeastern PA in the Pocono Mountains. Lake Wallenpaupack is one of Pennsylvania’s most popular destinations for vacations, retirement, and purchasing a home.
Filed under: Home Buyers, Random Real Estate Question
I was surprised to learn that in some areas, it is normal for the buyer to have a home inspection first, before actually signing a contract. As a seller, I wouldn’t like that – show me you’re serious first! As a buyer, I would risk spending the money and losing the house. Just makes good sense for all involved to have a contract first.