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When Buying your Home Obtain Triangle of Protection
Dated: July 3 2012
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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.
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Greater El Paso Association of REALTORS® All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may
