How are Arizona inspection days counted?

How are Arizona inspection days counted?

Here’s how it works in Schneider’s specific example: The contract is signed on Aug 1 at 9:00am (Day 0). At midnight, Day 1 begins. August 2 is Day 1 and the 10 full day period would then end at 11:59pm on Aug 11.

Can you back out of a House offer in Arizona?

A standard Arizona purchase contract allows for a buyer to rescind an offer to purchase a home if, during the inspection period, the buyer discovers damages to the property. The damages could be something as simple as leaky faucets or as serious as structural issues with the foundation.

Are home inspections required in Arizona?

Arizona Certification (Title 32, Chapter 1 enacted in 2002) The law requires 88 hours of education, successful completion of the National Home Inspector Examination, and evidence of successfully completed home inspections.

What is inspection period in escrow?

Inspection Periods are 1 – 30 calendar days and must be agreed upon by all parties at the initiation of the transaction. Buyers and Sellers should ascertain the Inspection Period provides adequate time for any authentication and/or appraisal process required to complete the transaction.

Do weekends count in a contingency period?

Counting Calendar Days for Contingencies day 17 is 6/19/18). Weekends and holidays are included in the counting.

How much is a home inspection in Arizona?

A home inspection in Phoenix, AZ costs an average of about $305, with a typical range of between $274 and $350. For a very low square footage property, it can be as low as $215, while high-end, large properties could cost $400 or more.

How long does a buyer have to complete inspections and approve all material provided by the seller in relation to the property if not specified?

In general the buyer has 3 days to get the deposit to escrow, 7 days to complete loan applications and provide verification of funds and 17 days to inspect and investigate, including the properties insurability. The seller typically has 7 days to provide the buyer all required disclosures.

What is a 7 day contingency?

An inspection contingency (also called a “due diligence contingency”) gives the buyer the right to have the home inspected within a specified time period, such as five to seven days. It protects the buyer, who can cancel the contract or negotiate repairs based on the findings of a professional home inspector.

Can you back out during due diligence?

Due diligence is your and your lender’s opportunity to do your “due diligence” to make sure the home is in good condition and that you can afford the loan. You can back out of the sale at any time before the end of the due diligence period.

What is due diligence deadline?

Due diligence period usually refers to the time after signing a contract that the buyer has to inspect the property and make a decision whether they want to buy the property or lease the property or otherwise go forward with the transaction.

When can I walk away from mold in my house?

The home you are looking to buy fails inspection due to mold, termites and a compromised foundation. If you are not used to fixing these kinds of issues or have the budget to do so, walk away. Mold can be cured, but termites and foundation problems can be very costly to repair.

Who pays for termite inspection in Arizona?

Generally in Arizona, the seller pays for the termite inspection and report plus any Section 1 issues. This means that if there is a termite infestation the seller will pay for termite treatment plus any damage, which could be fairly pricey (in the $2,000 range for treatment or much more for repairs).

How much does a home inspection cost in Tucson?

Home inspection cost in Tucson, Arizona ranges from $260 to $620 depending on the size of your house. House inspection cost for a 2,000-sf home ranges from $260 to $360. To get a more accurate cost for your home inspection project, request a quote. Find local home inspectors in just 3-5 minutes.