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Reply to "Contingencies what is reasonable"
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[quote=Realtor4you]It depends upon the risk your willing to take and your understanding of the contract, whether it be the MAR or Regional contract. There are differences. As for those your mentioned: -Lead- Generally a deal killer- Any pre-1978 home likely has lead. As long as it is not peeling, you are likely okay. Visit www.EPA.gov for more info on Lead, Asbestos, and Radon. - Home Inspection- You have options and need to discuss with your Realtor. 1) If you can, consider doing it before you submit an offer. Downside is that there's no guarantee you would still get the house and could be out hundreds of dollarrs. 2) Keep the time frame short and clear the inspection quickly. Just make sure you can get it done within the allotted time. 3) Do an informational inspection only where you may not ask for repairs to be completed but could still declare the contract null & void if needed. - Termite - Don't waive unless needed. It's built into both contracts. - HOA- CAN NOT be waived regardless of what another agent may tell you. This is MD and VA law. Sorry as I don't know DC law on this. - Appraisal- Gets tricky- Depends upon the amount of your down payment. Generally can be built into the financing contingency. If it doesn't appraise, it could affect the stated financing in the contract and afford you a means out if needed. Bottom line. Consult a Realtor who understands these aspects and can protect you if needed. Good luck![/quote]
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