Buyer’s Inspection Elections
Typically, when buying or selling a property, there is an inordinate amount of paperwork. One commonly used form regarding home inspections following the acceptance of an offer is the Buyer’s Inspection Waiver (BIW). However, there is a separate C.A.R. form called the Buyer’s Inspection Elections (BIE) which provides a more extensive list of possible inspections that buyers may choose to conduct. This form consists of over 30 potential inspections which include plumbing, electrical, roof, sewer, pool/spa and various others. This contract is formatted as a “yes” or “no” check-off sheet for the buyer to specify areas of concentration. Although this is not a commonplace form in standard transactions, it certainly has a place with sales involving dated homes with questionable maintenance and/or upkeep.
Although buyers are not required to present a BIE to the seller, it may prove beneficial to do so to ensure satisfaction. It is important to recognize that even if a buyer selects “no” for an inspection on the BIE, the option to carry out those inspections still remains available provided it is in the inspection timeframe.
Navigating through the labyrinth of details and information of a transaction is exactly why you, savvy buyers and sellers, need an experienced team. The SARKISSIAN + PERERA GROUP is here to help guide you through this process and ensure that you achieve all of your real estate goals!
Copyright© 2018 Berkshire Hathaway HomeServices California Properties (BHHSCP). All rights reserved. Any unauthorized reproduction or use of this material is strictly prohibited. This information is believed to be accurate as of February 1, 2018. It is not intended as a substitute for legal advice in individual situations, and is not intended to nor does it create a standard of care for real estate professionals.