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Contract Series Paragraph 20

George Clements ~ Greenville, SC Real Estate

 

Paragraph 20 of the Contract For Sale is quite long and looks something like this:

 

20. DISCLAIMER BY BROKERS AND AGENTS: The Listing Brokers or Selling Brokers and their Agents do
not make any warranties or representations, either expressed or implied, as to the condition of the Property
including, but not limited to: termite infestation or damage, excessive moisture or water, air quality, roof or
basement leaks, appliances, heating or air conditioning systems, plumbing (including the presence or lack
thereof of polybutylene piping), sewage disposal systems, electrical systems, building materials, the structural
components of any buildings or the presence of any hazardous substances including radon gas, lead, electromagnetic fields, asbestos or mold. Further, the Listing Brokers, Selling Brokers and their Agents make no
warranties or representations, either expressed or implied, as to the marketability of the Property, as to any
matters which would be revealed by a current survey and plat of the Property, or as to the accuracy of the
published square footage.

It is recommended the Purchaser obtain professional inspections of the Property, have an attorney
examine the title to the Property, obtain a current survey and plat of the Property, and verify any
information about which Purchaser may have questions.

 

This paragraph is basically just saying that the agents involved do not make any gaurantees on the condition or specifications of a property.  Agents will do their best to disclose everything about the property with things like problems, square footage, title problems, etc but they cannot be held responsible for anything the purchaser finds after a closing.  

The inspections and title searches should find most issues but this is not garunteed.  Houses are not perfect and there will always be issues that come up after a closing no matter how new or good of shape the house is in.  This is just a fact of life that things decay and inspectors cannot always find 100% of problems even though they do their best.   

Comment balloon 0 commentsGeorge Clements • April 01 2008 03:36PM

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