Building Inspection Clauses Can

Cost and Save YOU Money!!

By Ross Kay

One of the most common practices today is to include a Home Inspection Clause in your offer.  This is a neccessary protection all Home Buyers need but it is also one that can inadvertently cost them thousands of dollars.

Over the last few years these clauses have been used by some realtors and home buyers, as a tool, to come back to the vendor looking for a reduction in price, prior to removal of conditions.  Although this may be legal, the public is more often looking upon it as an unethical practice.  As a result, wise sellers and their realtors, are becoming less flexible on price as they are preparing for the inevitable request for a price reduction, in order for the sale to go forward.

To protect yourself as a buyer and to enable you to negotiate the lowest price possible, be sure to have your building inspection clause written in such a way that protects both the buyer and the seller from this preceived unethical behaviour.  A qualified, experienced realtor should have no problem drafting a clause in this manner.

Ross' Secret Tip:  Add a value, to the repairs needed portion of the clause, of about 1% of the value of the home.  

This weeks tip was taken from a recent question posted to Ross on his website.

Ross Kay, sales rep., is a Hall of Fame Realtor working under contract with RE/MAX garden city realty inc., in Burlington, Ontario, Canada.  Ross has successfully closed over 1000 sales and has a 99.8% success ratio. This information is not intended to solicit clients currently signed under contract with another realtor.  If you are not under contract then feel free to contact Ross by email or phone for further advice.

This tip and all other material found on www.RossKay.com is copyright protected by Ross Kay and The K Team Productions.  Redistribution, copying or any other use, is strictlly prohibited without the express written permission of Ross Kay.