What the heck is a BINSR?

Want to buy and home and have the necessary repairs done for you?! Let me tell you about the BINSR and what the 10 day inspection period has to do with you, the buyer. From the moment your offer on a home is accepted, you’ll have 10 days to complete and inspection on the home. But not only that, your agent will help you fill out the BINSR. What the heck is a BINSR? It’s the Buyer’s Inspection Notice Seller’s Response (BINSR); this is where you ask for any repairs you want done on the home and/or a discount in the sales price. You’re also able to cancel your purchase on the home at any point in that 10 day inspection period and get 100% of your earnest money deposit back! So let’s say you do your inspection and there’s just too much wrong with the home; cancel and get your money back. Or, maybe you ask for some repairs done or some money off the price and the seller doesn’t agree to your request; you can cancel and get your money back. OR…maybe you and the seller negotiate an agreeable outcome and you can move forward with the purchase of the home. Your agent should be explaining the process and guiding you every step of the way, so ask a lot of questions and be sure to read your contract! 

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