The Real Estate Encyclopedia
What Happens During The Defect Resolution Period?
Category - Home Buying Questions - Buying Disclosure & Inspection FAQ's

The time limit of the resolution period is typically included in the terms of the purchase contract and is driven by the Binding Agreement Date.  During the resolution period, the buyer and seller negotiate those repairs the seller must undertake prior to closing.  Once the repairs have been completed and approved by the buyer during the Walk Through, the buyer’s agent will draft the “Amendment to Remove Inspection Contingency” which must occur prior to closing.



References
 
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Home Buying Questions - Buying Disclosure & Inspection FAQ's
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