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Updated over 8 years ago on . Most recent reply

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870
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345
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Frank S.
  • Specialist
  • Chicago, IL
345
Votes |
870
Posts

Inspection Contingency in Illinois

Frank S.
  • Specialist
  • Chicago, IL
Posted

Howdy, 

My background is in architectural engineering, commercial construction, and I can evaluate a building condition.     I think inspections are important and I am comfortable paying someone $500 to spend 8 hours inspecting a place and providing a report. 

However,  I have a situation where I rather have a licensed and insured general contractor look at the place first before I pay the inspector.  Why?  There is some brick work that I can't price, and that's a deal killer.   If the amount is higher than X, I will pass. 

SO, can I enforce the Real Estate Contract Inspection Contingency  in Illinois by relying solely on the contractor? I don't want to pay for the $500 inspection if the brick work price comes high.  The seller is not fully committed - he wants more money obviously -  and my agent is telling me they can't put the house under contract if I don't get an inspector there.  On the other hand, I don't want to put the house under contract if the brick work is high.  

See below, the contract reads  "  ... by one or more licensed or certified inspection services: home, radon, environmental, lead-base paint, lead-based paint hazard or wood-destroying insect infestation."

 Thanks a lot, 

Frank

Most Popular Reply

User Stats

44
Posts
16
Votes
Jimmy Chou
  • Investor
  • Schaumburg, IL
16
Votes |
44
Posts
Jimmy Chou
  • Investor
  • Schaumburg, IL
Replied

Illinois allows a few days for attorney review, you can send the contractor in to get quote before that expires and use attorney as an exit clause if you need to.

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