Buyer will pay $1,000 over the net price of any existing offer not to exceed $xxxxx. Seller to provide written proof of the other offer. Net price is defined at Purchase Price less any seller concessions for buyer closing costs.
The Seller agrees to contribute $[specified amount] towards the Buyer’s closing costs at escrow closing, in lieu of performing any requested repairs listed in the BINSR. This credit will be reflected on a separate addendum.
Language on Addendum: Seller concessions outlined in Section 2j of the Residential Resale Real Estate Purchase Contract are amended to $[specified amount].
All doors and gates to the exterior of the home to be self-closing and self-latching properly to meet pool barrier requirements.
Seller to provide at least 2 house keys, 1 mailbox key and 2 programmed garage door remotes at close of escrow.
Earnest money will be deposited by Buyer directly with the title company within 2 business days of contract acceptance.
Seller to complete lines 1-35 on Page 1 of the H.O.A. Condominium / Planned Community Addendum within 3 business days of contract acceptance. Any fees not disclosed or disclosed incorrectly will be at the Seller’s expense.
All parties agree that the property may not appraise for the full amount of the sales price. If the property does not appraise for the sales price, then the Buyer and Seller agree that the Buyer will increase the amount of down payment in order to close this transaction, if the additional amount of the down payment required under this paragraph shall not exceed $X.
Buyer may not assign or transfer this Sales Contract and/or Buyer's rights under this contract without the prior express written approval of the Seller. Seller agrees not to arbitrarily or unreasonably withhold consent. Buyer shall remain responsible for the performance of Buyer's obligations under the Sales Contract including payment of purchase price and timely closing.
Seller agrees to provide permits for additions and/or renovations to the property which were not properly obtained or shown in the public records. Seller's cost to obtain permit(s), including costs to correct deficiencies required to obtain permits, shall not exceed $X.If costs exceed this amount, Buyer and Seller shall, within five (5) calendar days from the determination of said costs, mutually agree in writing on the amount of the excess that each of the parties shall pay. If the parties fail to reach an agreement, this Sales Contract shall terminate, and all deposits shall be returned to Buyer less all settlement costs chargeable to Buyer.
Seller warrants that Seller used a licensed contractor and that this dwelling has been constructed in keeping with standards generally accepted in the community, that it is habitable, and that all elements, both interior and exterior, will be in a finished condition upon delivery. Seller shall convey to Buyer all existing contractor's guarantees:(a) against defective materials and workmanship and (b) that dwelling has been built in accordance with the plans and specifications. Should contractor's guarantees not exist or be insufficient to assure correction of defects within one year of recordation of this contract, Seller agrees to provide such warranty in accordance with this paragraph. Seller also warrants that (a) the design of the building is sufficient to avoid water penetration; (b) there are no mechanics liens on this property; and (c) that if time for filing liens has not expired and any mechanics liens due to Seller's responsibility are subsequently filed, Seller shall be financially responsible for clearing liens.
Buyer's obligations hereunder are contingent upon the Buyer obtaining a building permit to (write in what permit is for) within X (X) calendar days from acceptance of this offer. If Buyer is unable to obtain said permit within the time specified, Buyer shall have the right to terminate this contract by giving written notice to Seller; in such event, all deposits shall be returned to Buyer, less any escrow expenses chargeable to Buyer.
Seller certifies that all the necessary building permits for the property improvements are in place and that any required City and County inspections have been satisfactorily completed. If the necessary permits and approvals are not in place, Seller agrees at its expense to obtain said items. The Seller's cost to correct any and all nonconformity shall not exceed $X.If the value of repairs exceed this amount, Buyer and Seller shall mutually agree on how the additional cost shall be absorbed. If no agreement can be reached, this contract is null and void and all deposits shall be returned to Buyer, less escrow expenses chargeable to Buyer.
Buyer is hereby advised that subject property is located on a private road which may require that Buyer contribute to the maintenance of said road for continued access. Buyer should have his attorney review the roadway agreement (if one exists) and advise Buyer accordingly. Some lending sources may refuse to provide financing if no maintenance agreement exists or is insufficient in form.
If, during the term of the lease, or any extension thereof, Lessor shall receive an offer to purchase this property or if Lessor shall wish to enter into an agreement for the sale of this property, Lessor shall first give Lessee written notice setting forth the name of the proposed purchaser, the purchase price, and all the terms and conditions of the proposed sale. Within X (X) calendar days following the delivery or mailing of said notice pursuant to the terms of this lease, Tenant shall have the right to purchase the property upon the same terms and conditions. Said right shall be exercised by delivering or mailing such election to Owner before the expiration of said calendar days. If Tenant shall not elect to make such purchase within said time, and the sale is made according to the terms set forth in the notice, Tenant shall not have a right to purchase upon any resale.
Buyer is aware that the X was built without a building permit, does not conform to the tax office records, and may not meet current building codes. Therefore, if the structure is destroyed in the future, Buyer may not be able to rebuild it under the present zoning code. In addition, Buyer is aware that to obtain a permit, the County Building Department may require additional work to be done and/or the demolition of the existing improvements. The Seller shall not be required to make any repairs or pay for any expenses with respect to any non conformance. The Buyer hereby accepts the property in this "as is" condition and releases and agrees to hold harmless, the Seller and the Seller's and Buyer's agents from any and all claims arising from or connected with said non conformance and lack of building permits.
Buyer accepts the encroachment in its present "as is" and "where is" condition. Seller will not be required to correct or remove the encroachment. Buyer further releases Seller and ABC BROKER from all liability and claims related to the encroachment.
Seller, at Seller's sole expense, agrees to correct the encroachment before closing. The correction must be by way of removal of the encroachment or obtaining and recording an agreement which permits the encroachment to remain and grants the right to go upon the property being encroached upon to maintain the encroachment.Buyer's obligations under this contract are contingent upon Buyer's approval of such correction.Seller, at Seller's sole expense, agrees to correct the encroachment before closing. The correction must be by way of removal of the encroachment or obtaining and recording an agreement which permits the encroachment to remain and grants the right to go upon the property being encroached upon to maintain the encroachment. Buyer's obligations under this contract are contingent upon Buyer's approval of such correction.
The property is subject to a Common Wall Agreement with the adjacent property owner, and a copy of that agreement is attached. Buyer is advised to consult with legal counsel and/or other experts with respect to consequences of this agreement, and shall have seven (7) calendar days from the effective date of this contract to terminate this contract by giving written notice to Seller or escrow if Buyer is not willing to accept the property with this agreement. If the Agreement is not recorded, Buyer and Seller agree to cooperate between themselves and the other parties to the Common Wall Agreement and to have it recorded at closing.
The property being conveyed has a common wall, portions of which are located on the subject property and an adjacent property. This offer is contingent upon the Seller, at Seller's cost and expense, within X calendar days from the date of acceptance of this offer, 1) having the property staked and surveyed by a licensed surveyor, 2) providing Buyer with a location map by the surveyor showing the easement and properties involved, and 3) obtaining a Common Wall Agreement with the property owner who shares the common wall. Buyer is advised to consult with legal counsel and/or other experts with respect to consequences of this condition, and shall have seven (7) calendar days from the date of acceptance of this offer to terminate this contract by giving written disapproval to Seller or escrow if Buyer is not willing to accept this condition or the Seller cannot obtain a Common Wall Agreement. Buyer and Seller agree that the Agreement will be recorded.
The Buyer is aware that there is a "common wall" between this property and the adjoining property and that portions of this wall may be located on both properties. There is no written agreement between the affected properties regarding this condition. The wall was constructed at this location approximately X years ago. Seller agrees to have the property staked by a licensed surveyor and to provide a location map showing the location of the wall and the properties involved by (date). Buyer is advised to consult with legal counsel and/or other experts with respect to consequences of this condition, and shall have seven (7) calendar days from the completion of the survey and receipt of the location map to declare this contract null and void because of this condition by giving written disapproval to Seller or escrow. If no written disapproval is received within the time specified, Buyer accepts the "common wall" in its "as is" condition and at its present location and agrees to assume the responsibility for it.
In the event cancellation occurs because Buyer is not able to perform, Buyer shall pay for all costs of cancellation, including costs of attorneys' fees, and other costs to cancel escrow and terminate this agreement. In addition, Buyer may be held to be in default under C-28 of the contract.
In the event cancellation occurs because Seller is not able to perform, Seller shall pay for all costs of cancellation, including costs of attorneys' fees, and other costs to cancel escrow and terminate agreement. In addition, Seller may be held to be in default under C-29 of the contract.
Seller's obligations to sell the property are contingent upon Seller purchasing and closing upon a replacement house, and this contract may be canceled by Seller unless Seller or Seller's agent gives written notification to Buyer or Buyer's agent that Seller has purchased under contract a new house. If Seller has not removed this Addendum by X M.(Time) on X (Date), then this contract shall be null and void, and the deposit of Buyer shall be returned in full.
Seller understands, and Buyer represents that availability of Buyer's funds to cover the down payment is not conditioned, and said funds are not obtained from any source which could cause a delay in the closing date specified in the contract.
Seller has the option to declare this contract null and void if any earnest money deposits are not made on time as required by the contract or if Buyer's earnest money check does not clear. Buyer to provide satisfactory evidence of the availability of cash funds within five (5) calendar days of acceptance. If Buyer is unable to provide satisfactory evidence within that time, Seller has the option to declare this contract null and void. Seller has the option to declare this contract null and void if any earnest money deposits are not made on time as required by the contract or if Buyer's earnest money check does not clear. Buyer to provide satisfactory evidence of the availability of cash funds within five (5) calendar days of acceptance. If Buyer is unable to provide satisfactory evidence within that time, Seller has the option to declare this contract null and void.Buyer hereby instructs escrow irrevocably and without condition, to disburse prior to closing the sum of $X to the order of (Name of recipient) on (date). In consideration of escrow releasing this sum as herein provided, the Buyer and Seller hereby indemnify and hold harmless escrow from and against any and all losses, costs, expenses, fees and claims which may arise or be incurred as a result of escrow's compliance with these irrevocable instructions for the early release of funds.
Buyer is hereby advised to consult the FEMA studies with a civil engineer as they relate to flood zones which may affect subject property and either limit development of said property or result in a dangerous situation. Broker is not trained in water run-off and makes no representations, guarantees or warranties regarding surface water and how it may affect the Property.
Buyer is aware that (name of Seller) is a licensed (contractor, architect, etc.).Buyer acknowledges that Seller has made no representations as a (contractor, architect, etc.) to the Buyer. Buyer is advised to, and has a right to, use professionals of Buyer's choice to inspect the property under the contract.
It is mutually agreed that in the event repairs cannot be completed by closing, escrow shall withhold from Seller's proceeds the estimated cost of repairs agreed to by Seller. Repair bills shall be paid through escrow, and any balance remaining shall be returned to Seller upon completion of repairs. Seller's agent shall send list of repairs to be done and estimated costs to escrow before closing.
The property is zoned (type of zoning) and is a lawful non-conforming structure. The buildings do not conform with the current zoning laws of the City though they are permitted because they were constructed when a different zoning was in effect. As a non-conforming structure, there are restrictions on the owner's right to rebuild if the improvements are destroyed or demolished. This may cause problems with respect to financing, re-construction, repair, use, property values and resale. The Buyer understands the consequences of this non-conformity and agrees to accept this condition "AS IS." Buyer has not relied upon any statement or representation by Seller or ABC Broker concerning such structure.
Buyer acknowledges that the property is considered a legal non-conforming use in the zoning category of surrounding property. Buyer is independently satisfied as to whether the intended use is grandfathered and understands all the legal possibilities, ramifications and requirements relative to the use of the property.
If Seller gives the standard 45-day notice to vacate to a month-to-month tenant and Seller is able to deliver possession of the property to Buyer by the original scheduled closing date in the contract but Buyer is unable to close by that date for any reason through no fault of the Seller, then Buyer shall compensate Seller through escrow $X per day from the 46th day until the transaction is closed.
Buyer and Seller understand and agree that Buyer is permitted to occupy the property prior to the close of escrow, provided Buyer executes an "early occupancy agreement," a form of which is attached hereto and made a part of this contract.
Seller agrees to deliver possession of the property at closing unless otherwise specified below. If possession is delivered before closing, Buyer assumes all risk of loss to the property from date of possession, and shall be responsible for maintenance, at Buyer's expense, and shall be deemed to have accepted the property, real and personal, in an "as is" condition as of the time of taking possession, the right of inspection to be exercised prior to the time of taking possession. Buyer should verify that there is adequate hazard insurance coverage during the Buyer's possession.
Seller shall have the right to remain in possession of the property for a period not to exceed X (X) days. Seller shall inform the Buyer of Seller's election to exercise this right no later than ten (10) days before closing. Should Seller elect to exercise this right, Buyer and Seller herein agree to execute a rental agreement to cover a period of X (X) days commencing from date of recordation at a rate equal to the per diem amount of Buyer's new mortgage payment
Buyer is aware and understands that the property is subject to the following current legal action: X. Buyer is granted permission to contact the attorney and the Association regarding the legal action.
Buyer and Seller understand and agree that the personal property described in the attached inventory is not included in the sales price and will be transferred to Buyer by way of a Bill of Sale to be paid through escrow at closing for a total purchase price of $X.
Seller agrees to deliver to Buyer before closing all blueprints, architect's drawings, landscape architect designs, and all building and landscaping specifications, surveys, and maps describing the property, presently in the Seller's possession.
Seller shall provide Buyer with a complete inventory of all items to be included in the sale of this property within five (5) calendar days of acceptance of this offer. Buyer shall approve same in writing within three (3) calendar days of receipt or this offer shall be null and void with all deposits returned to Buyer less any escrow expenses chargeable to Buyer.
The purchase price includes those items on the inventory list attached hereto. These items are being conveyed in "AS IS" condition. This offer is contingent upon the Buyer's examination and approval of the inventory within five (5) calendar days from acceptance of this offer. If Buyer does not approve of inventory, Buyer may declare this contract null and void by giving written notice to Seller within the time specified. No response from the Buyer within the time specified shall be deemed approval.
Seller to provide Buyer with a complete furniture inventory within five (5) calendar days of acceptance of this offer. Buyer's obligation to buy is conditioned upon Buyer's written approval of same within three (3) calendar days of receipt.
The personal property and fixtures listed in this contract are included in the purchase price and shall be the same property shown to Buyer or located in the property immediately before the signing of this contract.Seller or Seller's agents shall make no substitutions unless agreed to by Buyer in a written agreement signed by both Buyer and Seller.
In the event the transaction does not close, the Buyer agrees to return to the Seller all documents and disclosures that Buyer has received within SEVEN (7) days of Buyer's signing of a cancellation notice.Failure to do so before the Seller signs the cancellation notice will result in escrow being instructed to withhold $50.00 from the Buyer's deposit and deliver it to the Seller to cover Seller's costs to replace lost documents and disclosures.
