Coldwell Banker Residential Brokerage Home Buyers Guidebook - 2017 - Page 22

YOUR RIGHTS AS A BUYER Understanding the Language Inspections As a home buyer, your Real Estate Purchase Agreement will typically include a clause allowing you to conduct a professional inspection(s) of the property. We recommend that you invest in this objective visual examination of the physical structure and systems as they appear and operate at the time of the inspection. A standard home inspection report usually covers: • Exterior components • Structural components • Roofing condition • Interior plumbing • Electrical systems • Heating and air conditioning systems • Interior condition of walls, ceilings, flooring, windows and doors • Visible attic insulation and ventilation A professional home inspector may also provide home maintenance tips and suggestions for improvements you may want to consider after purchasing the property. We believe it’s important to make an informed decision about a property and hiring a professional home inspector for an objective assessment gives you that opportunity. Seller Disclosure State law requires sellers to provide buyers with a Residential Property Disclosure Statement. This report indicates any known material defects in the property that the seller is aware of (ie. flooding problems, leaky roof, cracks in the foundation, faulty furnace, air conditioning or plumbing, or lot line disputes). By indicating knowledge of any defects in a property through this report, a seller is not obligated to make repairs. However, if you have signed a contract and then receive information through this report about any defects, you can rescind the contract within the number of days stated in your contract. Sellers must also disclose known information on lead-based paint hazards before selling a house. Sales contracts include a federal form about lead-based paint in the building. Buyers will have up to 10 days to check for lead hazards. 22 ©2017 Coldwell Banker Residential Real Estate LLC. All Rights Reserved. Coldwell Banker Residential Brokerage fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Operated by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor sales associates and are not employees of Coldwell Banker Residential Brokerage.