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First Time Buyers >Structural Contingency
If you have a house for sale your buyers will probably include a structural inspection contingency in the contract. This allows them to have an expert check out the house, the major systems and the appliances.
A professional structural inspector can help buyers to "know" the house and to feel comfortable with it, but the inspection does not result in a pass or fail grade. The buyers will learn important facts about the house, such as where the water cutoff valve is located, in case of an emergency. The inspection may also help buyers set up a budget for repairs and determine if they want to invest in cost-effective measures to increase energy efficiency.
Buyers rarely back out of a sale after a structural inspection. Even if there are problems, you have the opportunity to negotiate a compromise and to avoid any obstacles that could seriously threaten the sale.
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| Q |
What real estate term was first used in the 19th century and means "a high-flying flag on a ship"?
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| A |
Skyscraper was first used in the 1880s when office buildings of 10 stories or more were built in Chicago and New York. |
 See More Real Estate Trivia > |
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