Inspection Period

The standard inspection period in the Arizona Purchase Contract is 10 calendar days, although this can be curtailed or extended based on your needs. Asking to extend the inspection period could weaken your offer—so unless necessary it is generally best to stick to the customary ten days. 

The inspection period is a time for not only for general home and termite inspections, but to inspect any other items of concern to you. For example, you may be concerned about polybutelene piping, and want to know if the home has it and how much it would be to replace. This is the time to get the estimates. Or perhaps you want to know if a certain internet provider will service your new home, or if the neighborhood is loud on Saturday nights. Again, these are all things that you will want to research during this period, if you are concerned. 

We will discuss all the potential inspections and ways to get the information you need. In addition, we will assist in scheduling all the inspections and be present during the home inspection. Also, you will be able to examine the Seller Property Disclosure Statement, (also phonetically called the SPUDS) during this time and ask questions to clarify answers given on the statement. This document is provided by the seller answering a variety of questions about their knowledge of the property. 

After inspections are concluded, the Buyers Inspection and Notice of Seller Response (BINSR or phonetically abbreviated to "BINDSER" by most agents) will be filled out and submitted to the seller. This document is where we will ask for any repairs or action you desire the seller to take. Timing is of the essence, as if the BINSR is not submitted to the seller by the end of the inspection period, you (the buyer) are agreeing to take the property as is. There is a 5 calendar day period in which the seller may respond to your requests, by agreeing or declining in whole or part. If the seller does not respond, they are indicating that they will do none of the repairs and take no action. You (the buyer) then have five days to decide if you are willing to accept the property in its current condition, or to reject the property and cancel the contract. 

You will also receive documents from the HOA, if your new home has one. These may or may not arrive during the inspection period. Once you have received them, you have 5 days to cancel the contract if you disapprove of anything in the documents. (For instance—what if the seller had advertised that RV parking was allowed, but upon reading the HOA documents you learn that it is allowed for loading and unloading only...or a 24 hour period. If you have a RV and the ability to park it at the property is critical for you, the contract can be cancelled within that 5 day period after receiving the documents.)

The inspection period can be a tedious time for both buyers and sellers. This a good time for deep, calming breaths! It is not uncommon for homes go back on the market after an inspection period where the buyer and seller cannot have a meeting of the minds on repairs or a flaw was discovered that was not acceptable to the buyer and they cancel the contract.