What steps can be taken to protect the buyer?
Buyers Answers

A great question! Make sure your agent structures your offer so that it is contingent on a structural, mechanical, and termite inspection. This is done by paying a nominal option fee for the unrestricted right to terminate the contract whithin a short period of time. Usually 7 to 10 days. If you terminate the contract within this option period, you lose the option fee but get your earnest money back. Get your inspections right away after signing the purchase agreement. That way, you will have a few days to decide if you wish to go forward with the purchase. Keep in mind, you do have the right after inspections to negotiate which repairs the seller will make, or you can simply ask for a price reduction to cover the repairs. Make sure your agent structures your deal this way and you will be less likely to experience unknown problems with the home.