Example: Repair Procedure with 10 business days filled on SCR310 in for buyer inspection date. (Inspection period can be more or less than 10 business days depending on what the buyers and sellers agree upon in SCR310).

While some buyers might only order a home inspection to save inspection money, there is a long list of inspections that all buyer reps may recommend and let the buyer decide which they want to order/pay for in the transaction.

So the buyer might do all sorts of inspections during the 10 business days in this example. Simply completing the home inspection on day 4 still leaves 6 days of inspections in this example.

So in this example, the deadlines:

10 business days +2 business days for buyer to give to seller a complete offer of repair requests that fit into the 9 basic repair categories (e.g. a fully completed SCR525 repair request addendum).

Then seller has ____ business days (filled in on SCR310 and varies with market conditions, the hot market may require more time to schedule contractors for repair estimates) to get contractors to give the seller repair estimates so the seller can decide about agreeing to make the repairs on the SCR525.

If the seller agrees to make all the requested repairs that fit into the 9 basic categories, then the parties are in contract and going to closing.

Only if the seller refuses to make one or more of the 9 basic categories requested does the buyer then have only 2 business days to decide to:

1. timely/properly terminate
2. buy without those repairs (e.g. buyer’s dreamhouse, such a good deal without repairs)
3. offer to pay more if the seller will make the repairs (e.g. finance the repairs)

If the seller and or the buyer do not take action through these deadlines, then the contract becomes an AS IS contract heading to closing.

9 basic repairs (only repairs that buyer should ask for and only repairs that sellers need to agree to make to keep the buyer in contract for repair procedure):

"seller paid repairs" = place these systems in operative condition: (1) heating (2) air conditioning (3) electrical (4) plumbing (5) water supply (6) waste water and (7) make the roof free of leaks and (8) address environmental concerns and (9) make the improvements structurally sound*

* any disagreements between buyers and sellers about what is "operative condition" or "improvements structurally sound" or "address environmental concerns" will be solved by (1) buyer/seller self-settlement or (2) buyer/seller hire mediator to help them self-settle or (3) hire lawyers and get a judge to make a ruling.

A big advantage of due diligence is you avoid all these repair procedure issues. SCR recommends using SCR311 due diligence to avoid all these repair procedure issues.

Here is a long list that is continually added to as SCR learns of new inspections:

Buyer agent may recommend that buyer hire inspectors for:

home inspection

roof inspection

structural engineer

HVAC inspection

water inspection

waste water inspection

appraiser

surveyor

electrician inspection

plumbing inspection

lawyer

mortgage lender

septic inspection

air quality inspection

pest inspection

tree inspection

hazardous materials inspection

mold inspection

landscape inspection

drainage inspection

access inspection

law enforcement – crime statistics

meth lab website

sex offender website

government demographic statistic website

insurance double check

flood insurance double check

private investigator for offsite conditions and information check

online search

paranormal investigation

out buildings inspection

dam inspection

fence inspection

tree inspection

bridge inspection

mold inspection

etc.

well

pool

spa

nfip flood insurance elevation certificate

radon

well/water

wood infestation

accountant tax cpa

lawyer

home inspections

home warranty

mortgage

insurance

survey

cl100

public private road access

Posted by : Byron King on 6/20/18 (This information is only accurate as of 6/20/18. You must contact SCR for updates and changes to this information after 6/20/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)