Jan 08, 2014
VAR debuts new home-inspection forms
08 Jan 2014
Posted by Andrew Kantor
After almost a year of discussions with REALTORS® and staff about home inspections and negotiations, VAR is pleased to present a new, clearer, and more efficient process.
Purchasing a home is complex, and the new home inspection process is designed to simplify the transaction. It involves two updated forms: VAR 600D (“Home Inspection Contingency Addendum”) and VAR 600E (“Home Inspection Removal of Contingency Addendum”).
Together, they help streamline the typical back-and-forth negotiations after inspection.
The new process also…
- Removes the Agreed Repairs Addendum as a negotiating vehicle
- Provides for more flexibility when an inspection reveals defects that are deal killers for the purchaser
- Allows the purchaser to exercise an option to terminate early in the home inspection process when the deal has no chance of proceeding.
All these are designed to save both parties significant time and frustration.
See more at VARealtor.com/newhomeinspection.