Absolutely include an inspection contingency on the purchase of a home. An inspection contingency protects the buyer in a purchase offer by allowing you to cancel closing on the deal if the home inspector finds problems with the property. The purchase contract can be written to include a contingency for any repairs found to be needed or related items the seller must take care of before closing. If the repair items are not dealt with, and you have such a clause in your contract, you can delay or possibly cancel the closing. If it is not stated in the contract you could possibly face losing your deposit. There could also be costly legal implications from backing out of the contract. This is another reason why buyers should secure the services of a competent home inspector and a buyers agent.
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