When does a buyer's inspection typically occur in a property transaction?

In a property transaction, a buyer's inspection typically occurs after an agreement is reached but before closing. This timing is crucial because it allows the buyer to assess the condition of the property and identify any necessary repairs or issues that could influence their decision to proceed with the purchase.

By conducting the inspection after an agreement is reached, the buyer benefits from knowing the other terms of the deal, including the purchase price and any contingencies. If any major issues are discovered during the inspection, the buyer can negotiate with the seller for repairs, request a reduction in price, or, in some cases, decide to rescind their offer altogether if the findings are significant enough to change their mind about the purchase.

The other options do not accurately represent the standard practice in property transactions. Conducting an inspection before an agreement would not provide the buyer with the protections typically sought after during the transaction, as there would be no formal contract in place to back any potential negotiations. The appraisal process serves a different purpose, primarily related to determining the market value for loan purposes, rather than assessing the physical condition of the property itself. Lastly, the final walkthrough is usually a last step confirming the property's condition before closing but does not serve as a thorough inspection to unearth potential repairs