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Old 10/29/18, 1:33 PM
jdeoliveira2's Avatar
jdeoliveira2 jdeoliveira2 is offline
Certified Professional Inspector (CPI)
 
Join Date: Aug 2013
Location: Albuquerque, New Mexico
Posts: 1,884
Default Re: InterNACHI's Free Listing Inspections Program: Answers to Frequently-Asked Questi

Evan, RANM initiative, though GAAR supported, so it will be statewide, not just Abq. It is being called pre listing due to there not being any better term, but it definitively is not PRE listing though practically similar.


It should have it's own categorical name. Pre Title inspection, TOM inspection, pre earnest money inspection (too long), pre acceptance inspection, something. Do not know what it is called in other states that have this PA option.


TOM - Time Off Market, a new purchase agreement provision that allows for delay in placing earnest money in escrow to allow time for inspections. The reasoning is that there will be fewer EM disputes, which statistically the largest is the Buyer backing out due to various HI concerns. Personally, I know that Buyers often state it is the inspection, when they really just get cold feet about buying a home.

Last edited by jdeoliveira2; 10/29/18 at 1:46 PM..