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Page 1 of 3 RESIDENTIAL BUYER S INSPECTION NOTICE AND SELLER S RESPONSE 1. Contract dated: Document updated: February 2011, 20 MONTH DAY YEAR 2. Seller: 3. Buyer: 4. Premises Address: BUYER INSPECTIONS

How to fill out binsr form

How to fill out BINSR form:

1. Start by obtaining a copy of the BINSR form, which stands for Buyer's Inspection Notice and Seller's Response. This form is used in real estate transactions to address any issues found during the buyer's inspection.
2. Read and familiarize yourself with the instructions provided on the BINSR form. This will help you understand how to properly fill out the form and what information is required.
3. Begin by filling out the top section of the form, which includes the property address, date, and buyer and seller information. Make sure to provide accurate and up-to-date details.
4. Proceed to the section where you can list the items or issues that were identified during the buyer's inspection. Clearly and concisely describe each item, providing as much detail as possible to ensure clarity for the seller.
5. Indicate the buyer's requested resolution for each item separately. This could include requesting repairs, replacements, credits, or other solutions.
6. If applicable, provide a dollar amount for each requested resolution to indicate the financial impact of the requested repairs or solutions.
7. Utilize the additional space on the form to further explain any details, negotiations, or agreements related to the inspection items.
8. Once you have completed filling out the BINSR form, review it carefully to ensure all information is accurate and complete. This will help avoid any misunderstandings or confusion.
9. Share the completed BINSR form with the seller or the seller's agent as per the instructions or guidelines provided in your real estate transaction.
10. Keep a copy of the filled-out BINSR form for your own records.

Who needs BINSR form:

1. Home buyers who have completed a property inspection and identified issues, damages, or concerns with the property.
2. Sellers who have received a BINSR form from the buyer and need to respond to the buyer's inspection items.
3. Real estate agents, brokers, or attorneys involved in the transaction who are responsible for facilitating the communication and negotiation process between the buyer and seller.

Video instructions and help with filling out and completing binsr form

Instructions and Help about binsr form

What is the BINS Report Its theater's Inspection Notice and Seller's Response and if you're buying a home in Arizona you need these tips Hey everyone Welcome back I'm Lindsay with the Wise Move AZ Team at Realty ONE Group If you want to stay up to date on all things Anthem and real estate then you need to hit that subscribe button Tip You're also going to want to hit the little bell icon, so they're the first to know when our new videos are posted every single Thursday As your Anthem Arizona REALTOR I work with a number of families to ensure a smooth purchase of their home A lot of work goes into buying a home and one of theta pieces is navigating the BINS process As mentioned at the beginning of this video BINS is the abbreviated name we give to the Buyer's InspectionNotice and Sellers Response document If you want to have a copy of the BINSRdocument in front of you while we go through these tips put me on pause really quick jump down to the description box click the link and then come right back here so that we can go through it together It's okay I'll wait Ready The BINS is a two-page document that's completed at the end of the buyer's due diligence period which unless otherwise negotiated ends ten days after contract acceptance Okay let's assume that you the buyer completed all your desired inspections now what Now you'll complete the first page of the BINS with the help of your REALTOR You have three options you can#1 Accept the premises as is #2 Reject the premises altogether or #3 You can give the Seller the opportunity to correct the disapproved items Option ones not all that common here in Anthem The inspection usually reveals something that should be corrected repaired or replaced even if it's just something small Option two is not common either Rarely will the buyer walk away from the sale altogether without giving the Seller the opportunity to correct the items they disapprove That being said we've seen it done For example if you find out that there's a sex offender living next door, and you have small children there's really no amount of work that the seller can do to make the property acceptable to you, and therefore you will likely cancel the contract Option three giving the seller the opportunity to correct the disapproved items is hands-down the most common thing we have seen this case you the buyer will make a list of the items you want the seller to correct This is typically done by making reference to the inspection report or reports Now for the rest of this video let's assume that you went with option three, and you've given the seller a list of items that you want them to correct repair or replace The seller now has three options; they can #1 Agree to complete all requested repairs #2 State that they're unable or unwilling to complete any of the repairs i.e. they outright reject your request completely or #3 They can respond with a list of items that they are willing to fix Again in this situation option three is what we...

People Also Ask about

How long does seller have to respond to repair request California?

When he/she submits a request for repairs, the buyer sometimes asks for particular contractors to do specific work. The seller typically has three business days from the time of receipt to respond to buyers. In that period, the buyer cannot change his/her request. A seller has a choice of three responses.

What is the 10 day inspection period in Arizona?

10-Day Inspection Period Typically, you have 10 days to do all of your inspections and investigations of the home. You can inspect anything to do with the home – its condition, the neighborhood, the schools, the zoning, the development plans for the area, just about anything related to the home.

What is a Binsr report in real estate?

The BINSR is a notice document which the buyer may use to give the seller notice regarding those items the buyer disapproves of. The BINSR is not an addendum and should not be used to modify the terms of the Purchase Contract.

How long does seller have to respond to repair request Illinois?

Usually you have 10 days from the date the seller signs to the contract to come to an agreement for repairs.

What happens if seller doesn't respond to Binsr?

IF the Seller does not respond, this means that the Seller will not do anything. Once the Seller responds (unless they agree to everything) the Buyer has five days to either continue to negotiate, accept or cancel the contract with full refund of the Earnest Money.

What does Binsr stand for?

The BINSR is a document used during an Arizona Real Estate transaction that stands for Buyer's Inspection Notice Seller Response.

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