Walk-Through and Punch List Procedure Clause Samples

Walk-Through and Punch List Procedure. Incomplete items of construction in the Home or on the Lot that do not significantly affect occupancy of the Home (including but not limited to, “punch list” items), will not delay Closing and the Home will still be considered Substantially Complete regardless of such items. Purchaser may schedule with Seller’ representatives a walk-through inspection of the Property to take place during the 5-day period immediately preceding the Closing or such earlier date as may be mutually acceptable to Purchaser and Seller. Within 15 days after Closing, Purchaser will prepare a punch list of defective or incomplete items to be repaired or completed within the Property after Closing (the “Punch List”), which will be submitted for processing to the Buildertrend application of Seller’s contractor. Seller or its contractor shall have the right to review the Punch List for accuracy, and may accept or reject (with notification of such rejection delivered to Purchaser) any items on the Punch List at its sole discretion. No subsequent additions to the Punch List will be permitted. Seller either will complete all items listed on the Punch List and accepted by Seller before Closing or will proceed diligently to complete such items within the 120-day period following Closing to the extent reasonably possible and subject to Force Majeure Delays. If Purchaser fails to schedule a walk-through inspection or fails to participate in a scheduled walk-through inspection of the Property, Purchaser will be deemed to have waived Purchaser’s right to a walk-through inspection of the Property and the preparation of the Punch List, and Purchaser will be deemed to have accepted the Property in its condition as of Closing.
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