top of page

REAL ESTATE TRANSACTION COORDINATION SERVICES

Calculating the Inspection Period Deadline in a Tennessee Real Estate Contract

Updated: Mar 12



When you hire a Transaction Coordinator, one of the many benefits you receive is help navigating the Inspection Period (not to be confused with the Resolution Period). This period of the contract is crucial, and understanding its nuances can mean the difference between a smooth transaction and one riddled with complications.


In fact, one of the riskiest pitfalls during the Inspection Period is missing the cutoff, which can impact the buyer's negotiation power and even lead to potential contract termination.


Click here for our quiz to see if you can calculate te Inspection Period Deadline.


What is the Inspection Period?

In every real estate contract where the buyer wishes to conduct inspections, the Inspection Period refers to the contractually agreed-upon number of days from the Effective Date (Binding Contract Date) when all inspections must be conducted and written notice must be delivered to the Seller(s) (typically in the form of a Repair Proposal or As-Is Notification).


What is the Inspection Period Deadline?

The Inspection Period Deadline marks the last day of the Inspection Period (and time if the Effective (Binding) Date records a time) where written notice must be provided to the Seller by the Buyer.


When representing the Buyer, the agent needs to schedule inspections with enough time to not only receive the inspection report, but also discuss with the Buyer(s) on how to proceed forward to including drafting the Repair Proposal, obtaining the Buyer(s) signatures, and delivering to the Listing Agent.


What Type of Written Notice Needs to Be Provided?

The acceptable written notice a Seller must receive by the Inspection Period Deadline is generally a written instrument that is typically one of the following: a Repair Proposal, a Notice of Termination, or Acceptance of the Property as-is.


Whose Obligation is it to Ensure This is Done by the Requisite Time?

The sole obligation lies with the Buyer.


What Happens if the Buyer Fails to Do This?

If the Buyer fails to make timely inspections and respond within the given timeframe, the Buyer forfeits any contractual rights related to inspections (Section 8 of the PSA) and must accept the property in its current condition, except for normal wear and tear.


What Options Does a Buyer Have in This Case?

If the Buyer does not wish to move forward with the home and the deadline has not passed, the Buyer may:

  1. Terminate the agreement; or

  2. Accept the property as-is; or

  3. Provide the Seller with a Repair Proposal to begin negotiations for repairs (the most common option) which starts the Inspection Resolution Period.


How SmoothTC Makes the Inspection Period Deadline Easy for Agents

Navigating deadlines can be challenging, especially when juggling other responsibilities. Here’s how having a dedicated Transaction Coordinator can help:

  1. Schedules or Confirms Inspections. Scheduling inspections can be complex, especially if the home is occupied or if the Inspection Period is short. For Buyer transactions, SmoothTC ensures that all necessary information is provided to the inspectors and schedules inspections as soon as possible. For Seller transactions, we confirm that requested dates and times work for the Seller and relay any specific instructions to the inspectors for Seller's peace of mind.

  2. Communicates Instructions and Confirms Payment. Educating both Buyer and Seller Clients on what to expect during the inspection process ensures things go smoothly. SmoothTC also verifies that Buyers have paid any necessary fees for inspections up-front.

  3. Collects Inspection Reports. SmoothTC ensures that all inspection reports are promptly delivered to the Agent and Client.

  4. Sends SMS & Email Reminders. SmoothTC sends Agents both SMS and email reminders for the Inspection Period Deadline (1 day before and day-of).

  5. Typing Proposals and Amendments. Agents can easily submit content from their Agent Launchpad for quick signature collection.


Avoid Troublesome Pitfalls

Working through the Inspection Period comes with challenges, but preparation is key. Here are a few potential pitfalls we help you avoid:

  • Missed Inspection Period Deadline: Never miss a deadline with our alerts and reminders.

  • Incomplete or Late Inspections: With our oversight, inspections are scheduled well in advance, reducing the risk of cutting it close, and we notify the agent if we think there is an issue.

  • Miscommunication: We streamline communication between agents, inspectors, and clients, minimizing misunderstandings and delays.

  • Inadequate Documentation: We ensure every inspection report and follow-up request is organized and easily accessible, so nothing falls through the cracks.

The Bigger Picture: Supporting Your Clients and Your Business

SmoothTC expertly manages the Inspection Period Deadline so you can focus on providing top-notch service to your clients. Our support doesn’t just make your life easier; it also adds a layer of professionalism and reliability to your business. Your clients will appreciate the smooth, stress-free experience, which can lead to more referrals and repeat business.





bottom of page