Buying a home can present hidden risks. While sellers must provide prospective buyers with complete and accurate descriptions of properties for sale. Smart buyers also exercise personal responsibility, to whatever extent possible and reasonable, to help avoid unpleasant surprises. This includes setting aside funds to pay for property, septic, well, and/or pool and spa inspections.
In Texas these inspections are generally performed during the contract's option period. This allows the prospective buyer to discover potentially expensive safety and repair issues. Armed with this information, the buyer can choose to exercise their option, exit the contract, and forfeit their option fee (generally $10.00 for each day of the option period).
Alternatively, the prospective buyer, armed with inspection reports, may negotiate repairs and/or repair allowances with the seller.
Often, the inspections serve to verify that the sellers have done a great job of maintaining their home and equipment.
Regardless of the outcome, the peace of mind that the property inspections bring makes the nominal expense of the inspection well worth the cost.