A visit to and review of particular premises. A purchaser should always inspect the property before closing. Because possession of property gives constructive notice of any claims of ownership, an inspection is an important step in discovering any possible claims by others. An inspection might also reveal any encroachments or unrecorded easements. It is good practice for a broker to inspect the listed premises to ascertain that his or her representations to prospective buyers will be accurate.
Real Estate Word of the Day: Inspection
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