How long do buyers typically have to conduct inspections after an accepted offer?

Study for the New York Real Estate Institute (NYREI) Exam. Get ahead with flashcards and multiple choice questions, each accompanied by hints and explanations. Equip yourself with the knowledge to pass your exam confidently!

Buyers typically have a timeframe of 7 to 10 days to conduct inspections after an accepted offer, which aligns with common practices in real estate transactions. This period allows buyers to thoroughly evaluate the property for any potential issues, such as structural concerns, plumbing problems, or pest infestations. Conducting inspections within this timeframe is crucial for buyers to make informed decisions about proceeding with the purchase or negotiating repairs or price adjustments based on the findings.

The window of 7 to 10 days strikes a balance between providing sufficient time for a buyer to arrange for inspections and the need for sellers to keep the process moving forward. It is essential for those involved in real estate transactions to be aware of this typical timeframe to ensure that everyone meets contractual obligations and to facilitate a smooth closing process.

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