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This document serves as an addendum to a real estate contract, outlining the terms and responsibilities related to a home inspection for a property in Mississippi.
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How to fill out home inspection addendum
How to fill out Home Inspection Addendum
01
Obtain the Home Inspection Addendum form from your real estate agent or local real estate board.
02
Read the entire form carefully to understand all sections.
03
Fill in the buyer's name and the property address at the top of the form.
04
List the findings from the home inspection, including any necessary repairs or concerns.
05
Specify any deadlines for the seller to address the inspection issues.
06
Include any contingencies that may affect the sale based on the inspection results.
07
Review the completed form to ensure accuracy and completeness.
08
Sign and date the form along with your real estate agent.
Who needs Home Inspection Addendum?
01
Homebuyers who want to negotiate repairs after a home inspection.
02
Sellers who need documentation of inspection findings and agreed-upon repairs.
03
Real estate agents facilitating the sale process and ensuring all parties are aware of inspection issues.
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People Also Ask about
What should you do if you see a red flag at closing?
Communicate with the agent: Keep the real estate agent informed of any problems or potential issues you see. Give them all the documentation and details so they can talk to the clients. Your job here is to support the agent so they have everything they need to fix the situation.
What is an appraisal addendum?
An appraisal addendum protects the buyer from acquiring an undervalued home. If a property appraisal does not value the home at the minimum sale price, an appraisal addendum allows the buyer to withdraw from the sale. The buyer then has the right to terminate the contract and receive their earnest money back.
What does a red flag mean on a house?
Means weather resistant barrier materials flashing details this is huge if you're doing inspectionsMoreMeans weather resistant barrier materials flashing details this is huge if you're doing inspections of of pre-D drywall we call them uh inspections. This is where you'll get to see the weather
What is the most common addendum?
An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document.
What is the biggest red flag in a home inspection?
9 Huge Home Inspection Red Flags That Will Save You Big Time Damage around electrical points. Unusually placed or recently moved furniture and wall hangings. Hidden signs of dampness. All the windows are open or uneven home temperature. An agent or homeseller insisting on meeting at a particular time of day.
How do you word a real estate addendum?
Include a title, reference to the original contract, effective date, changes, purpose, signatures, and an optional integration clause. Keep formatting consistent, consult legal advice for complex changes, stay specific, and draft contracts with flexibility to minimize addenda.
What is the number one red flag when buying a house?
1. No inspection, no dice. A major red flag when entering negotiations of a possible home purchase is when the owner will not allow an inspection.
What is the most common issue to arise in a home inspection?
The 5 Most Common Issues Found During a Home Inspection Common Roofing Issues Include: Frequent Electrical Defects Include: Typical Plumbing Problems Found: Common Structural Defects: Common HVAC Problems:
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What is Home Inspection Addendum?
A Home Inspection Addendum is a document that is attached to a real estate purchase agreement outlining the terms and conditions following a home inspection.
Who is required to file Home Inspection Addendum?
Typically, the buyer is required to file the Home Inspection Addendum after a home inspection is completed.
How to fill out Home Inspection Addendum?
To fill out a Home Inspection Addendum, provide the inspection findings, specify any required repairs, set deadlines for completion, and obtain signatures from all parties involved.
What is the purpose of Home Inspection Addendum?
The purpose of the Home Inspection Addendum is to negotiate repairs and address issues found during the home inspection before finalizing a real estate transaction.
What information must be reported on Home Inspection Addendum?
The Home Inspection Addendum must report the findings from the home inspection, any identified issues or repairs needed, the timeline for those repairs, and any agreements made between the buyer and seller.
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