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- The final inspection of a property being sold by the buyer to confirm that any contingencies specified in the purchase agreement such as repairs have been completed, fixture and non-fixture property is in place and confirm the electrical, mechanical, and plumbing systems are in working order.
US Department of Housing and Urban Development - Cite This Source - This Definition
- An inspection of a property by the prospective buyer prior to closing on a mortgage.
Ginnie Mae - Cite This Source - This Definition
- Browse Related Terms: Amenity, Home Inspection, Price Range, Termite Inspection