Inspection Contingency definition

Inspection Contingency. This Offer is contingent upon a qualified independent inspector conducting an inspection, at Buyer's expense, of the Unit/and ______________________________________________________________________ which discloses no defects as defined below. This contingency shall be deemed satisfied unless Buyer, within _____ days of acceptance, delivers to Seller a copy of the inspector's written inspection report and a written notice listing the defects identified in the inspection report to which Buyer objects. Buyer agrees to deliver a copy of the report and notice to Sweeney & Sweeney, S.C., if Prope▇▇▇ ▇▇ lis▇▇▇, ▇▇on delivery to Seller.
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Inspection Contingency. Yes No Other inspections, if any: Well Septic Lead Paint Radon Other Purchase Agreement Fee ($350): Buyer Seller Split Water Softener: Owned Rented No Liquid Fuel Tanks: Owned Rented No City Sewer: Yes No City Water: Yes No Home Protection/Warranty: Yes No Seller (Current Mortgage Information) Name of Lender: Social Security Numbers: If the sale involves a townhome or condominium, the Seller must provide copies of the Declaration, Bylaws, and budget for the association along with a Common Interest Community Resale Disclosure Certificate. BUYER (if obtaining financing). Name of Lender: Taxes are typically pro-rated, which means that the Seller pays taxes for the time period prior to closing and the buyer pays taxes from the time period after closing. Loan Officer: Type of Loan: FHA Conventional VA Other: Taxes will be pro-rated: Yes No Assessments will be pro-rated: Yes No Loan Amount: If the home is served by fuel, oil, or propane, the amount remaining in the tank at closing may be purchased by the Buyer or included in the sale price. Please indicate which: Include in sale Purchased Separately Closing Agent: Buyer and Seller can use ▇▇▇▇▇▇ ▇▇▇▇▇▇, Ltd. as the title company and closing agent for both parties if they both agree. Buyer’s Title Company:_ Seller’s Title Company: THIS IS NOT A PURCHASE AGREEMENT AND CANNOT BE USED AS ONE. SEND THIS FORM TO ▇▇▇▇▇▇ ▇▇▇▇▇▇, LTD. TO PREPARE A PURCHASE AGREEMENT. NEITHER SELLER NOR BUYER ARE OBLIGATED TO SELL OR PURCHASE UNLESS A PURCHASE AGREEMENT IS SIGNED BY ALL PARTIES. Any additional notes that you would like included in the Purchase Agreement: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇, #▇▇▇ Rochester, Minnesota 55902 Phone: (▇▇▇)-▇▇▇-▇▇▇▇ FAX: (▇▇▇)-▇▇▇-▇▇▇▇
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Inspection Contingency. This Contract is contingent, at the election of the Purchaser, upon satisfactory inspections, including but not limited to, home inspection, septic system inspection, and water testing, on the subject land and improvements by qualified inspectors chosen and paid for by the Purchaser, to be completed (including written reports) not later than ten (10) days before the Closing Date (as the same may be extended by the Parties) (the “Inspection Deadline”). All reports shall be promptly distributed to all parties. If said inspections and reports disclose any environmental, structural or mechanical defects or damages as defined by the generally prevailing standards in the construction industry in the county in which the Site is located, including but not limited to defects in or damages to the foundation, roof, chimneys, well, septic, plumbing, wiring, or heating system, or the presence of wood-boring insects, the presence of asbestos, or the presence of contaminants in the drinking water, the Purchaser shall have the right to terminate this Contract and receive back all deposit monies if written demand is delivered to VSHA not later than (a) ten (10) days after receipt of the applicable report or (b) the Closing Date, whichever is earlier. The Purchaser shall have no other remedy against VSHA. The Purchaser and the inspector(s) shall have the right of access to the premises at reasonable times upon 48 hours advance notice to VSHA for the purpose of inspecting the condition of the Mobile Home. VSHA shall be entitled to be present at the inspection and a copy of the inspection report will be shared by the Purchaser with VSHA.
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Examples of Inspection Contingency in a sentence

  • Failure to deliver to the Seller either a written Notice of Release or Notice of Cancellation, or a written Inspection Contingency Removal Proposal within the Due Diligence Period described on Lines 74-75 will be considered to be an acceptance of the property “as is,” and the Inspection Contingency will be satisfied and no longer a part of this Agreement.

  • Inspection Contingency – This clause gives the Buyer the authority to have the home inspected by a professional inspector.

  • Inspection Contingency – The Buyer can use this addendum to determine if there are any major defects with the property.

  • If this Contract is subject to a property inspection contingency, the parties must execute a Property Inspection Contingency Addendum which shall become part of this Contract.

  • See Paragraph 13(C) for more information regarding the Individual On-lot Sewage Inspection Contingency.

  • If Seller refuses to complete the lender required repairs (Lines 63-66), or cancels this 97 Agreement by rejecting an Inspection Contingency Removal Proposal (Lines 85-89), Buyer has the right to reinstate the 98 Agreement by delivering to Seller a Notice stating that the Buyer will accept the property in its present "as is" condition.

  • In consideration of the Buyer’s right of inspection and election to terminate pursuant to the Inspection Contingency paragraph herein, the Buyer releases the Seller from any claim for injury to person or property caused by asbestos as provided herein, and agrees to release and/or indemnify the Seller from any cost or expense of removal of any asbestos, should the need be necessary.

  • If the Inspection Contingency box in Section 2.19 is “Yes”, then this Agreement is subject to a property inspection contingency and Section 7.1 does not apply.

  • Buyer represents that Buyer has examined the property and is satisfied with the physical condition subject to the Inspection Contingency if applicable.

  • If ▇▇▇▇▇▇ refuses to complete the lender required repairs (Lines 63-66), or cancels this 97 Agreement by rejecting an Inspection Contingency Removal Proposal (Lines 85-89), ▇▇▇▇▇ has the right to reinstate the 98 Agreement by delivering to Seller a Notice stating that the Buyer will accept the property in its present "as is" condition.

Related to Inspection Contingency

  • Due Diligence Examination shall have the meaning set forth in Section 3.2.

  • Independent Engineer means an agency/ company, appointed by Nodal Agency in accordance with the Guidelines for Encouraging Competition in Development of Transmission Projects.

  • Environmental Audit means a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of the Property.

  • Contracting Body Satisfaction Survey shall have the meaning set out in Clause 18.1;

  • Lead inspection means a surface-by-surface investigation to determine the presence of lead-based