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Updated over 5 years ago on . Most recent reply

Account Closed
  • Rental Property Investor
  • Yuma, AZ
45
Votes |
637
Posts

Do I have 10 days to do an inspection or 60?

Account Closed
  • Rental Property Investor
  • Yuma, AZ
Posted

It says: It says this:

INSPECTIONS: The buyer shall examine the property to determine that its in habitable condition, AS IS. If buyer does not report a functional defect or damage to the property within 60 days of signing the Lease Option Agreement, any such item or issue not so noted shall be considered by seller and any other third party, if later discovered, as having been brought about the buyer, and not the responsibility of seller. If, within that 10 day period, any necessary systems (i.e. electrical, plumbing, heating) ceases to function, seller will repair it at seller's expense. Thereafter, such systems and items as are not noted by buyer within the 60 day period shall be buyer's responsibility.

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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
1,762
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
  • Accountant
  • Atlanta, GA
Replied

Respectfully, you've been spamming this subforum with questions all day about a contract you're (I suppose) about to enter into.

I counted 16 posts in the last 24 hours.

When you read that paragraph, what conclusion do you come to?  60 days or 10 days?  "I don't know" isn't a good enough answer.  What do you think the answer is?

Do you intend to do this for every deal you do?  Ask strangers on the internet to interpret every paragraph of a legal contract for you then rely on their answers to determine whether or not to execute?

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