Most all buyers in Maryland will look to protect themselves with some inspection contingency to allow them to walk away from the deal if the inspection turns up trouble. In Maryland, the two main methods to handle this are through the Property Inspections Addendum or the As Is Addendum. The basic concept of the Property …
For nearly every single residential contract for sale*, the Maryland Code requires that the seller to furnish, EITHER: a Residential Property Disclosure Statement, OR a Residential Property Disclaimer Statement. Confusingly, the form provided by the Maryland Real Estate Commission combines both of these statements into one document. As a result, Sellers routinely make mistakes and …
The Inspection Contingency is by far the scariest, most confusing and frustrating part of any contract for sale. Section 12 of the Maryland Residential Contract for Sale provides that a buyer shall be afforded the opportunity, at Buyer’s sole cost and expense, to condition Buyer’s purchase of the property upon a Home Inspection in order …