Most Arizona home buyers can easily cancel the purchase contract during the Inspection Period and get a full refund of their earnest money.
The Inspection Period is usually 10 calendar days. The Inspection Period begins the day the purchase contract is signed by both the buyer and the seller.
Inspections are Critical
It is extremely important for buyers to make thorough inspections of the property during the Inspection Period. If a buyer then decides to cancel the contract, it must be canceled before the Inspection Period ends.
During the Inspection Period you should also investigate anything related to the home that is important to you such as the quality of the schools or future development plans for the surrounding areas.
The Inspection Period is probably the most important and most complex part of the home buying process in Arizona. Mismanaging your opportunities can be disastrous for Arizona home buyers. Meeting all the deadlines in the contract is critical.
Realtors Usually Free to Home Buyers
A top reason for hiring an Arizona Realtor is to have your Inspection Period managed for you by a professional. And remember, home buyers usually pay nothing to have a professional Realtor work for them.
This post is, of course, just a thumbnail of one aspect of the complex inspection and due diligence processes seen in Arizona home purchases. Feel free to call me if you have questions.
I want to be your Realtor!