Everything you wanted to know about the inspection process when buying a property.
In this class you'll learn:
- What is good faith and how does it apply to the inspection negotiation when buying properties?
- The inspection process flow chart
- What level of inspection are we doing PRIOR to going under contract?
- Inspection related dates and deadlines for the Colorado Contract to Buy and Sell Real Estate
- What rights to inspect do we have when buying properties?
- What obligations do we have when inspecting properties?
- What can you inspect (and object to) and what can't you inspect (or object to)?
- Can we inspect inclusions? Exclusions?
- Can we inspect things that are not on-site but might be important to us purchasing and using the property?
- Objecting or terminating
- Getting your earnest back (or not) and earnest money disputes
- Resolving objections and moving forward with the purchase
- Basic objections and complicated, attorney-prepared objections
- Parties involved in inspections, their roles and responsibilities
- What can you hide from your lender? Hint: nothing.
- When should you discuss with the your lender the resolution you're agreeing to with the seller?
- Should you (or must you) include a copy of the inspection report with your objection?
- Changing your mind about your objection and deciding to move forward with the purchase anyway
- The options you have during inspections
- Objecting tips
- Sample inspection objections
- Sample inspection resolutions
- Criminal code for dual contracts and how you can find yourself (accidentally) committing loan fraud
- Context specific best practices
- Asking for price reductions versus seller concessions
- Inspecting, but not objecting as an offer strengthening strategy
- Negotiating tips
- Plus much, much more...
Duration: 2 hours and 11 minutes
Recorded: July 1, 2020
Instructor: James Orr