SCR310 is an AS IS contract with a due diligence section and an inspection/reinspection section to allow a buyer the option to inspect the property and properly negotiate repairs or negotiate seller concessions or terminate. Also, SCR310 allows final inspections.
Some buyer agents recommend obtaining all inspections and the buyers decide which inspections to obtain.
In this REALTOR® Magazine survey, some sellers admit to not disclosing all property defects. Some buyers survey that they had post closing issues. Look at the survey numbers, they may surprise you. Also note the article speaks against sellers making DIY repairs and for sellers hiring licensed/bonded repair organizations/individuals which can add some risk management.
The article warns buyers not to over rely on the seller disclosure documents and to obtain their own inspections to minimize risks.
Top issues for trouble:
Plumbing – water issues
Roof – water issues
Air Quality (e.g., mold) issues
Appliances and Fixtures issues
So a buyer may want to focus on obtaining inspections on these top trouble issues.
Posted by: Byron King on 08/29/22 (This information is only accurate as of 08/29/22. You must contact SCR for updates and changes to this information after 08/29/22 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org)
This information is not legal advice. This information is intended only to provide general information and may not be relied upon as specific legal guidance. Legal counsel should always be consulted before acting in reliance on this information.