Hopefully you have learned a lot about the changes the new FAR-9 contract has on the Inspection process. This will be the last Inspection Question in this series about the FAR-9. I hope you have found the series informative and educational.

Knowing and understanding the terms outlined under the FAR-9 is an important part of the purchase transaction, and this final section may be critical in protecting the rights of the Buyer, and save you financial pain after the close of sale.

True or False? The FAR-9 includes a formal Walk-Through Inspection / Reinspection clause that , if NOT conducted, deems the Seller's repair obligations fulfilled.

TRUE - TRUE, TRUE, TRUE - The FAR-9 [Paragraph 8 (c)] now specifically identifies a "Walk-through Inspection / Reinspection" to verify "Seller has made repairs by this contract, has met the Maintenance Requirement and has met contractual obligations." The paragraph further states, and this is the IMPORTANT part: "If Buyer and /or Buyer's representative, fails to conduct this inspection, Seller's repair obligations and Maintenance Requirement will be deemed fulfilled." BAM! So, if you don't do the reinspection, you accept the property as it is when you close.

That last sentence has a huge impact that could make move in day very unpleasant for Buyers who failed to perform a final walk-through, or have their Inspector perform a reinspection. <p> The FAR-9 has many changes that affect the inspection process from both a Buyers and Sellers prospective, I encourage you to read, reread and ask questions about the contract (especially Paragraph 8), to protect yourself and your Clients (Buyers AND Sellers).

Congratulations to: Ginger Lundstrom of Ginger's Destin Connection