October 2015

There are 1 blog entries for October 2015.

Accepting a property "as is" as stated in Paragraph 7D(1) in the One to Four Family Residential Contract means the buyer accepts the property in its current condition at the time of the execution of the contract. Usually at the time of contract execution the buyer knows very little about the condition of the property. That's why most buyers elect to pay an option fee per Paragraph 23, which allows a buyer an agreed upon number of days (option period) to perform their due diligence on the property. During the option period, inspections can be performed, and if deficiencies are found, the parties can negotiate to amend the contract to address repair items, or the buyer can terminate the contract.

If while preparing the contract a buyer already knows of

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