(3) The buyer may elect to terminate the agreement because of the inspection results. The buyer has that right if the standard inspection contingency clause was used. In most cases, some negotiating will go on after the inspection report is submitted. In some cases, the inspector may state that something is not working properly, when, in fact, it is. You have the right to hire your own professional to dispute the home inspector’s findings. This sometimes occurs because the home inspector is a general inspector and is just trying to cover his or her liabilities. Further, the home inspector states that there is a possible problem and recommends that a professional be consulted (heating/AC, roofers, etc.). In this case, the buyer may add to their punch list to have the heating/AC or roof checked by a professional. 5. Appraisal: If your contract has an appraisal contingency or loan contingency, an appraisal will be performed. The appraiser will call either you or your agent for an appointment. He or she will come to your home and do some measurements, take pictures and notes, and go back to the office to write it up. Depending on the type of loan, the appraiser may also do a minimum home inspection, which includes a visual inspection of the roof and flipping switches on to see if major appliances work. Usually, it takes about 10 days from the date the appraisal was ordered to its completion. If your home appraises lower than the contract amount, there may be some renegotiations from the buyer’s side, or the buyer may even back out of the deal before signing the contract, unless an appropriate adjustment is made. However, you, the seller, can’t back out of the deal once the buyer 90
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