Do not enter into a contract that reads anything like: “at the buyer’s expense, obtaining and approving an inspection report against which any defects whose cumulative costs of repair exceeds $1000 (or any $ amount) and which reasonably may adversely affect the properties use or value.” This clause would be included by your agent. As nice as your agent may be, their job is to help close deals; they are not your friend.

The dollar value can be anything, once you have signed into this legal device it may be very difficult to extricate yourself from the deal. The seller can always concede to any deficiencies or require you to prove the value of deficiencies which can be very subjective. The wording and any dollar value look innocent enough but these are underhanded legal devices to protect the sale. This, contrary to everyone’s belief, does not benefit you in any way.

Two months after my client entered into such a contract, my client and myself finally untangled ourselves from the clutches of the seller’s $1000 deficiency clause.