With home inspection contingencies, a buyer can cancel a purchase agreement with their earnest money intact… as long as they follow the rules. Nevin Raghuveer, who works with 85% more single-family homes than the average Twin Cities agent, says home inspection contingencies are one of a buyer’s best tools to avoid future homeowner regret. It’s like you get to put a house “on hold” (in other words, take it off the market), and then bring in an expert (or multiple) for a second opinion before finalizing the purchase. That’s why it’s so important to perform due diligence before you take the plunge on a new house. When you buy a home, unfortunately, there’s no return policy. Luckily, these items often come with a warranty or return policy, so you (and your wallet) aren’t out the money for the faultiness of the item. Maybe it was a new appliance that started acting up, a new car that’s engine gave you grief, or a pricey sweater that unraveled after the first wash. Have you ever made a purchase you were really, really excited about, only to find out a few days later it wasn’t exactly what you were expecting?
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