When Buying your Home Obtain Triangle of Protection

When Buying your Home Obtain Triangle of Protection

The "triangle of protection" includes the following:

Transfer Disclosure Statement. 

Sellers usually complete this form within five days after the acceptance of the Residential Purchase Agreement. It details what fixtures are included in the sale. It also requires the seller and agents to disclose any material fact that affects value or desirability.

Professional Inspection. 

This inspection is usually completed within ten days of acceptance of the Residential Purchase Agreement.

Home Protection Plan. 

This policy takes effect at the close of escrow.

As you can see, the home protection plan does not take the place of a professional inspection. With the "triangle of protection", the seller and agents disclose anything that they know of that affects value or desirability. Then, a professional inspection is conducted to find any adverse conditions not previously disclosed. Finally, a home protection plan covers items that require repair or replacement after the closing of escrow. By obtaining the "triangle of protection", you are reducing your chances of having problems after escrow closes.

Oscar Nieto Headshot
Phone: 915-355-9305
Dated: July 3rd 2012
Views: 2,441
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