07/31/2026
IYCRTTTOIFY 🧐
Every industry has its lingo, acronyms, and phrases. Like POA could mean power of attorney, or property owners association.
A PICRA stands for Property Inspection Contingency Removal Addendum, and it’s the form we use to disclose the terms in which a buyer is willing to remove their home inspection contingency. In most cases, this has to do with repairs the buyer is requesting as a result of the inspection— but it can include other items as well, like the inclusion of a home warranty, or closing cost assistance, or additional seller concessions.
In my opinion, this is one of the most crucial forms in the deal itself because the home inspection is a buyer’s best glimpse into the overall integrity of the home, and this form clears the pathway toward closing or terminating. Think of this as, sort of, the “speak now or forever hold your peace” part of the entire transaction.
The thing about a PICRA, though, is that it should be clear as day - just like the contract. Let’s just say… some folks prepare them better than others 🤭
So, the make it or break it moment often comes down to the PICRA and how it’s negotiated into the transaction.
One thing about me? I love writing them, and I teach fellow agents how to write them!
What other forms do you have questions about?
bencantyrealestate.com
