L/O House Inspections
In typical RE transactions, whereby a legal Title transfers, house inspections are part and parcel to the negotating process. It also behooves the buyer to have such inspections on their purchase for obvious reasons. So to my question........In a L/O contract a sale will hopefully occur in some 1-3 year window, but the buyer basically agrees to terms to buy said property when they sign the initial L/O contract. Is it typical then for an inspection of the house to precede a contract for L/O, because in essence you are agreeing to buy the property at some point in time. What is the protocol for inspections in a typical L/O transactions? Or do inspections occur only when leading up to the Act of Sale?
thanks all!
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