Definition
The process of thoroughly examining a property and its records to identify physical defects, legal issues, or other problems before purchase. Comprehensive investigation is essential buyer protection.
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A comprehensive investigation is essential to protect buyers from purchasing properties with hidden problems that could be costly to repair. Professional inspectors examine structural systems, mechanical systems, and overall condition. Investigations also include title searches to verify ownership and identify any liens or legal issues affecting the property.
Pro Tip
Don't skip investigations to speed closing. Discovering problems early gives you negotiating leverage.
Example
During the investigation phase, the buyers hired an inspector who identified termite damage, a failing roof, and outdated electrical wiring that would require $35,000 in repairs.