Contract Between Purchaser And Seller. (Page 2 of 5) in pdf

APPRAISAL. This offer is _______ is not________ subject to the property appraising for at least the

purchase price. If the appraisal reveals repairs, which must be made, Purchaser and Seller will negotiate

which party will complete those repairs for any re-inspection fees. If the appraisal is less than the agreed

purchase price, Purchaser and Seller may renegotiate the purchase price.

□

Appraisal

will /

will not be ordered prior to removal of home inspection contingency.

SALE OF PURCHASER'S PROPERTY

□

This offer is not contingent upon the sale or close of property owned by Purchaser.

□

This offer is contingent upon the sale and close of Purchaser’s property located at

(address, including city & state)_____________________________________________________

_______________________________________________________________________________

□

within ________ days or

within the time specified for closing the Seller’s property. Seller

shall have the right to continue to offer the property for sale and accept any offers subject to the

rights of Purchaser. If Seller accepts another offer, Seller will give Purchaser written notice of that

fact. Within ________ days of receipt of the notice, Purchaser will provide a written waiver of the

contingency on the sale and close of Purchaser’s property or this agreement will terminate without

further notice and deposits will be returned according to paragraph 15 of this agreement. Upon

waiver of this contingency, Purchaser warrants and will provide proof that the funds needed for

closing will be available and Purchaser’s ability to obtain financing is not contingent upon the sale

and/or close of any property.

SELLER'S PROPERTY DISCLOSURE. Purchaser acknowledges receipt of Seller's property condition

disclosure statement dated ____________________ as required by SDCL 43-4-38 through 43-4-57 prior to

signing this agreement. (initials)_________/___________

Purchaser acknowledges that no disclosure statement is required by reason of the following:

______________________________________________________________________________________

LEAD-BASED PAINT DISCLOSURE. Purchaser acknowledges receipt of the pamphlet "Protect Your

Family From Lead In Your Home" and the Seller's lead-based paint and lead-based paint hazards form

according to the Residential Lead-Base Hazard Reduction Act of 1992. This applies only to properties built

prior to 1978. (initials)_________/___________

INSPECTION OF PHYSICAL CONDITION OF PROPERTY. Purchaser acknowledges that it has

been recommended that Purchaser engage, at Purchaser’s expense, the services of a professional inspector

acting within the scope of the inspector’s professional license to inspect the property

(initials)__________/__________.

Purchaser and Seller understand the purpose of a property inspection is to inform and educate Purchaser

of conditions and future maintenance of property and is not designed to be a point of renegotiation of the

purchase price.

□

This offer

is /

is not contingent upon Purchaser, at Purchaser’s expense, obtaining a property

inspection(s) and report(s) which may include, but not be limited to the physical, structural, mechanical,

pest, geological and environmental contamination conditions relating to the property. These inspection

options will be completed and written notice of the results given to Seller or Seller’s agent within ____

business days of acceptance of this agreement. If the inspection(s) has not been completed within the

specified time, Purchaser’s option to have the inspection(s) shall expire and all other terms of this Purchase

Agreement will continue unaffected.

INITIALS: PURCHASER________/________SELLER________/_________

Page 2 of 5

SDREC.RESIDENTIALPURCHASEAGREEMENT.2011

Contract Between Purchaser And Seller. Page 2

Related Articles

Related forms

Related Categories