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Contract Series Paragraph 16 E

George Clements ~ Greenville, SC Real Estate

 

Paragraph 16E of the Contract for Sale is titled "OTHER" and looks something like this: 

 

(E) OTHER: The property is sold with the following additional stipulations. ____________________  The Seller will not be required to make any repairs until the Purchaser’s financing has been approved.

 

This is where you would list any other inspection or special situation that might be associated with a property.  Every home is unique and might have a special issue that the purchaser could be concerned about.  

This also states that the seller does not have to start any repairs until the purchaser's financing has been approved.  This protects the seller from making a lot of costly repairs only to have the transaction fall through because the purchser's financing fell through. 

Comment balloon 0 commentsGeorge Clements • March 26 2008 10:57AM
Contract Series Paragraph 16 E
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George Clements ~ Greenville, SC Real Estate Paragraph 16E of the Contract for Sale is titled "OTHER" and looks something like this: (E) OTHER: The property is sold with the following additional stipulations. ____________________ The… more
Contract Series Paragraph 16 D
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George Clements ~ Greenville, SC Real Estate Paragraph 16D deals with what types of repairs the seller will be required to do and looks something like this: (D) REPAIRS: To the extent the Purchaser has requested such repairs, the Seller agrees… more
Contract Series Paragraph 16 C
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George Clements ~ Greenville, SC Real Estate Paragraph 16C of the Contract For Sale deals with termites and moisture and looks something like this: (C) WOOD INFESTATION/MOISTURE REPORT: Purchaser will, at their expense, have the property… more
Contract Series Paragraph 16 B
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George Clements ~ Greenville, SC Real Estate Paragraph 16B of the Contract For Sale deals with Radon and the condition of the property. The paragraph looks something like this: ( B) RADON: Notwithstanding any other provisions in this Contract,… more
Contract Series Paragraph 16
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George Clements ~ Greenville, SC Real Estate Paragrahp 16 of the Contract For Sale deals with the condition of the property and has 7 sections dealing with condition. Section A deals with inspections in general and looks something like this: 16… more
Contract Series Paragraph 15
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George Clements ~ Greenville, SC Real Estate Paragraph 15 of the Contract For Sale is entitled "Disclaimer" and looks something like this: 15. DISCLAIMER: Except in the case of a new home being sold by the builder, the Purchaser… more
Contract Series Paragraph 14
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George Clements ~ Greenville, SC Real Estate Paragraph 14 of the Contract For Sale deals with default of the contract and looks something like this: 14. DEFAULT: If Purchaser or Seller fails to perform any covenant of this Contract, the other… more
Contract Series Paragraph 13
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George Clements ~ Greenville, SC Real Estate Paragraph 13 of the Contract For Sale deals with damage to the property before closing and looks something like this: 13. FIRE OR CASUALTY: In the event the Property is destroyed or damaged by fire… more
Contract Series Paragraph 12
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George Clements ~ Greenville, SC Real Estate Paragraph 12 of the Contract For Sale deals with personal property and looks something like this: 12. PERSONAL PROPERTY, FIXTURES, ETC. : No personal property will be transferred or conveyed as a part… more
Contract Series Paragraph 11
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George Clements ~ Greenville, SC Real Estate Paragraph 11 of the Contract For Sale deals with "NON-RESIDENT TAX. " The paragraph looks something like this: 11. NON-RESIDENT TAX: Seller covenants and agrees to comply with the… more