When you have an inspection addendum are you required to have a professional or contractor inspect the property in order to cancel the contract. Especially dealing with reo's.
Typically the addendum gives you the option of having an inspection done. It doesn't mean you have to do the inspection and it shouldn't require any specific licensing. You could have a friend that is a contractor walk through with you or you could do it yourself if you have experience. I've never seen a requirement that you hire a specific professional.
Hope this helps @Steven Turner
@Steven Turner - In Idaho, you can cancel an agreement for any reason that you are dissatisfied, as long as it is within the specified inspection time period. There does not need to be proof of a specific professional inspection. Please check the wording of the agreements in your state, as it could differ.
Thanks people, I really appreciate you valuable input!!! I'm still working on my first deal so I am grateful for any and all info that will help me accomplish my goals.
Read your inspection clause.
Thanks Wayne just doesn't cover the method of rescinding in the inspection clause. I appreciate all input. Thanks