How Real Estate Terms & Conditions protect Home Buyers and Sellers
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How Real Estate Terms & Conditions protect Home Buyers and Sellers


Welcome to understanding our terms and
condition, because if the buyer can’t complete the terms by the condition of
the dates agreed to, well No Deal! So let’s take a closer look at
our terms and conditions page. Here’s our home page, nicely filled in. Our
information page, and page three, here’s our terms and conditions page, and if the
buyer wants to extend the term dates and and the seller says ‘NO.” The seller
clicks up the Collapsed Sale Report, and now on with the terms and conditions, as we
follow the yellow-brick icon and see that money comes first, as the buyer
needs a new first mortgage with an interest rate that satisfies the buyer.
Next term, the buyer approves the buyers inspection and if the home’s defects are
more than expected the buyer will renegotiate the sale or collapse it. Now
this next term means the buyer needs to check the title against any charges or
liens and check the features, which can be anything from very buried gas lines to a new
city rezoning for a sewage plant coming soon to be built next door.
And this next little sleeper clause is because no listing is accurate, and the
buyers responsibility now, not the agents, for the listings accuracy and
measurements, as well as checking and approving any seller’s disclosure
documents, if one is offered or required and sellers please check your state as
there is now some seller disclosure responsibilities being required by the
state. And buyers, welcome to the war on drugs, as a seller
states to the best of the sellers knowledge no drugs were ever made here,
however have your home inspector bring a drug sniffing dog, and check for mold,
just in case. And next, Water Wars, lots of floods as well as drug making lately,
and this statement confesses that the property was flooded and/or used for the
drug business, however, it’s all being fixed and the city has approved the
fixing with a new occupancy permit. However, check. Now the home you are
making an offer on may be pristine and have no flood or drug issues, and if so
you simply waive or ignore these clauses, but get it inspected anyway. And next, for
everyone with a sweet tooth, our unauthorized Suite clause which includes Airbnb buyer
and seller protection as unauthorized suite issues survive the transaction to
new owners and can create legal problems for both before and after owners if the
city changes or enforces the illegal suite or unauthorized accommodation laws.
So this page has covered the most popular single family homes zone terms
and conditions, and yes you can customize for a waterpot ability or any other
hot-button issue that concerns you. O.K., here we are, because in addition to
the single-family home inspections, if you’re buying an apartment home, condo or
townhome, you have this additional condo and townhome Terms and Conditions page
to complete, and is buying into these multifamily developments is actually
buying into a non profit business, and like all businesses, there are
shareholder meetings, financial reports and local bylaws. So this first Clause is
all about the buyer having possession of all these documents for the buyers
inspection. And our second Clause is more on documentation, as the buyer will be
receiving an information certificate from the property management company, a
copy of the budget, rental disclosure form, and current depreciation and
financial report, and yes! Size does matter, as this Clause is all to do with
the size of your unit as shown in your Condo or Strata plans, and this also
determines the monthly maintenance charge, as well as the insurance company
payout in the case of a fire or flood. And here’s our a buyer and seller special
levee protection clause, which protects both parties from legal issues if a
special levee or payment is passed before the buyer takes possession of the
buyers new unit, and next comes the pet policy, followed by any age
discrimination, like an adults-only building, how the parking stalls are
assigned and finally the rental restriction policy, if any.

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