Repairs/Reports

Repairs

The Seller (s) agree (s) that 5 days prior to the date set for closing, Seller (s) will at their own cost and expense repair and properly fix the following _________________________________________

___________________________________________________________________________________.
The above repairs shall be in compliance with applicable building codes and required permits shall be obtained using materials of comparable quality.
 

Credit accepted in lieu of work performed

Buyer elects to accept a credit of $ _______________________in lieu of Seller's obligation to pay for (structural pest control work, seller warranties, roof repair/or replacement, etc.) recommended in the inspection report # __________________ attached hereto as " EXHIBIT” _____ dated _____, 19 ___ issued by _____________________________________ _________________________on the property located at ________________________________________________________________.

Buyer acknowledges receipt and acceptance of said report.  Buyer hereby releases Sellers and CENTURY 21 Alpha from all liability for any work which now or in the future may be recommended by any licensed contractors with respect to the subject property.

(NOTE: the buyer's lender usually DOES NOT allow the Buyer to receive a credit - therefore the best approach is to reduce the purchase price by the amount of the credit)

Prior reports/repairs

Seller shall furnish at no cost to the Buyer copies of all reports, inspections and repair estimates concerning the herein property for the last 5 years. (NOTE:  or in Seller's possession) The Buyer's obligation to perform hereunder is specifically conditioned upon Buyers written approval within 5 days from receipt of those reports.  Should such reports disclose conditions or information unsatisfactory to buyer, which seller is unable or unwilling to correct, then Buyer may terminate this contract and Seller shall promptly return all unused deposits to buyer.