OfflineWhen assigning a property do you pay for the inspection? Is there a way of getting around this because I am just looking to wholesale right now and have more time than money?
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Inspection Fee
Posted on: Fri, 11/07/2008 - 01:48
Please see below comment from sully when I asked him the same question regarding the inspection. He leaves the inspection up to the end buyer (the investor to whom you are assigning to)
thanks
Inspections
Normally Nick, thats a cost that is incurred by the "end buyer" I have NEVER heard of the investor Assigning the deal paying for an Inspection, i myself always use an Inspection Clause but, leave it up to the "end buyer", SULLY
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YOUR HERO, SULLY
Nick Walters
Walters Property Investment Group, LLC
Thanks Nick
The end buyer pays for all inspections. You are simply passing the deal onto him so he won't have a problem with inspecting the house since he's the one getting it at a good value.
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
On many purchase contracts, there is a time limit for inspections. If you are going to assign the contract, you should extend the inspection time limit to give your assignee the oportunity to do inspections, and request repairs if needed. If the time limit expires, the buyer has no right to request repairs.
Al
"NOW GO FIND A DEAL"
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