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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

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