You have just negotiated a deal with a buyer and managed to sign the sales contract. The good news is that you’re almost there. The bad news is that you’re not quite there. Even though the buyer has signed the sales contract, there’s still room for the deal to fall through. Two big parts of the for sale by owner housing transaction still lay in the balance – the inspection and the buyer’s mortgage. Housing Inspections With most standard sales contracts, the buyer has the right to have the property inspected. If these inspections aren’t satisfactory to the buyer, the deal could end up turning bad. There are three major types of inspections that the buyer can have completed. Termite Inspection. Depending on your state’s laws either you or the buyer could be responsible for the ter...
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