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On The Residential Purchase Agreement Form The Final Verification Of Condition Occurs

  • 2021年4月11日
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Second, there was a strong cat smell. No cat had been noticed in the residence before. But the smell when we opened the door was inevitable. Cat urine has a clear smell, and it is very difficult to get rid of it. If this buyer had made her last visit and noted the items during the check of the condition of the property, we could have filed a repair application or requested a concession before closing. But by then, it was too late to stop the closure because it had closed. One of the most important parts of a real estate transaction takes place just before closing. No, I`m not talking about anything that has to do with funding. Rather, the subject is the last “walk-through” or, more formally, the verification of the property condition. The walk-through is not, I repeat, no opportunity for the buyer to take another look and decide whether or not he really wants to go through the transaction. There is also no need for a second inspection and the need for repairs to the conditions that were there at the time of the first inspection. The California contract contains this specification for repairs.

“The seller must: (1) receive receipts for other repairs made, (ii) make a written statement with the repairs made by the seller and the date of those repairs; and (iii) to provide the purchaser with copies of receipts and declarations before the final review of the condition.” [my centre of gravity] A standard C.A.R. form used in the State of California indicates that the status of the property is not a contingency to the sales contract. This means that there are no conditions to be met before closing. The VOP does not change the seller`s contractual obligations to the purchasers. For example, if a vendor agrees to repair a water heater, the seller is still required to repair the water heater, even if the water heater is not yet repaired. However, as this transaction is no longer active, I am ashamed of the matter in the hope of giving an explanation to other buyers. First, understand that checking the status of ownership is not a bargaining tool. A Property Check (VOP) State is used to relieve a real estate agent of any liability after the last pass, as well as to prove that the buyer had the opportunity to consider the property only once. It is easy and somewhat understandable that the last passage can be treated superficially.

A buyer`s representative may even be complicit. Because who wants a problem so late? But this is one of the times when a buyer`s representative should take extra care to pay attention to the interest of his client if the customer is perhaps too involved in the euphoria of an imminent closure of his new home. Most sales contracts contain a kind of vocabulary that states that the seller promises to deliver the house to the conclusion under the same condition as the date of the sale contract. Sales contracts often allow for a final transit within a number of days before closing.