News & Information: Risk Management Tips

Risk Management Tip - Repairs Approval

Friday, May 18, 2012  
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»Be sure buyers approve repaired items before the final walk through inspection.
It's important for agents to remember to document in an addendum the buyers' requested repair items and have the buyers sign off on the repairs once completed. This "second inspection” should be performed by the buyers or the buyers' inspector (NEVER by the agent) prior to the final walk through.

Risk Management Tips of the Week are provided by the ORRA Risk Management Subcommittee as a service to ORRA members. The tips are not a substitute for individual legal consultation. Tips should not be relied upon in specific situations without consulting a real estate attorney.

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