Residential Real Estate Sale Contract Template Page 3
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67. CONDITION OF PROPERTY: This Contract shall not be effective until SELLER completes and BUYER signs
the attached Statement of Condition Addendum for the PROPERTY. SELLER shall maintain the PROPERTY in its
present condition through the date of possession. SELLER shall advise BUYER of any substantial change in the
condition of the PROPERTY prior to closing.
8. INSPECTIONS: BUYER or BUYER’S representative, at BUYER’S expense, may conduct any or all of the
inspections listed below within the specified time periods. (Inspection Periods). SELLER shall afford BUYER
reasonable access to the Property to conduct the inspections, re-inspections or inspection of any repairs completed
by SELLER. BUYER authorizes BUYER’S Inspector(s) to provide SELLER with a copy of any written inspection
report obtained by BUYER. BUYER shall be responsible and pay for any damage to the Property resulting from the
inspection(s). SELLER agrees that any repairs, which SELLER performs pursuant to the following provisions, shall
be completed in a workmanlike manner with good quality materials.
A. WOOD/PEST INFESTATION INSPECTION. BUYER may arrange for any inspection by a reputable
licensed pest control firm to determine the presence of termite, other wood destroying insect or other pest
infestation in the accessible areas of the PROPERTY. If the written inspection report reveals evidence of
active infestation, SELLER agrees to pay to have the PROPERTY treated for control of the infestation and
to provide BUYER with a certificate evidencing treatment by a reputable, licensed pest control firm, of
SELLER’S choice which certificate BUYER agrees to accept. If there is evidence of damage to the
PROPERTY resulting from infestation, SELLER agrees to complete and/or pay for repairs, provided the
cost does not exceed $___________ (zero if left blank). If the cost of repairs exceeds this amount, BUYER
may cancel this Contract and BUYER’S earnest money will be refunded. Inspection, treatment, and repairs,
if any, for termite or other wood destroying insects shall be completed no earlier than thirty (30) calendar
days prior to the Closing Date.
B. MECHANICAL, STRUCTURAL, ENVIRONMENTAL OR HEALTH INSPECTIONS. Within ______
calendar days (TEN DAYS IF LEFT BLANK) after the Effective Date of this Contract, BUYER may
conduct inspections of the following: (I) mechanical equipment and systems sold with the PROPERTY
unless otherwise expressly excluded, if any, all appliances, plumbing system (including septic system),
electrical system, heating system, and central air conditioning system; (2) structural aspect of the
PROPERTY, including without limitation the following; foundation slab, roof, fireplace, chimney, siding,
windows or doors, ceiling, floors, the exterior, the interior, any wall, fence, deck, sidewalk or driveway; (3)
environmental or health hazards affecting the PROPERTY, including without limitation, the following:
radon gas, asbestos, lead paint, unre-fomialdehyde foam insulation, or any other environmental or health
hazard.
C. REPAIRS. If repairs to mechanical equipment or systems are deemed necessary by a qualified
professional to put such equipment or system in operating condition or if structural defects, environmental
or health hazards are determined to exist and documented by the written report(s) of qualified
professionals. BUYER and SELLER agree to complete and/or pay for repairs or remediation as follows:
(1) BUYER agrees to pay the first $ ____________(zero if left blank) of repairs (NOT
APPLICABLE IF DVA FINANCING)
(2) SELLER agrees to pay the next $ ___________(zero if left blank) of repairs
The provisions of this paragraph relating to repairs DO NOT apply to damage resulting from pest
infestation. Such damages are governed by the terms of paragraph 9 (A).
D. NOTICE OF UNACCEPTABLE CONDITIONS, IF BUYER’S inspections reveal unacceptable
condition, the repair cost of which exceeds the total amount which BUYER and SELLER agreed to pay in
subparagraph C above, BUYER may, before expiration of the “Inspection Period”, deliver a written notice
to SELLER electing either of the following options:
(1) Cancellation of this CONTRACT, in which case the BUYER’S earnest money will be
refunded, or
(2) Requesting correction of the unacceptable conditions, in which case the buyer shall itemize
the unacceptable conditions and be accompanied by the written documentation of qualified
professionals.
E. RESOLUTION OF UNACCEPTABLE CONDITIONS. At any time after BUYER’S delivery of notice
requesting repair of unacceptable conditions as provided in the preceding paragraph, BUYER or SELLER
may make demand on the other party to sign a written agreement for resolution of the unacceptable
conditions, the repair cost of which exceeds the amount which BUYER and SELLER agreed to pay above,
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