Main Purpose Of Home Insurance Clause
Thursday Jan 07th, 2021
Home Inspection clauses focus mainly on checking the exterior and interior of the home to identify any future problems may occur in the home. You should consider requesting a home inspection report as a condition of your offer to purchase. In any agreement of purchase and sale (APS), you will find the following standard clause: "Buyer acknowledges having had the opportunity to inspect the Property and understands that upon acceptance of this offer there shall be a binding agreement of purchase and sale between Buyer and Seller. The Buyer acknowledges having the opportunity to include a requirement for a property inspection report in this Agreement and agrees that except as may be specifically provided for in this Agreement, the Buyer will not be obtaining a property inspection or property inspection report regarding the Property."
This clause is just explaining, you as a buyer understand that you have the opportunity to inspect the property and this offer will become a binding agreement between the buyer and seller. Also, this also explain that the buyer has the opportunity to include a condition in the schedule A of the agreement explaining that the property inspection will be provided and also agrees that the buyer may not be able to obtain the report.