Knowledebase Tag: Repairs
- It’s the last day of my buyer’s option period. The buyer and seller are still negotiating repairs and want to extend the option period. How do we do that?
- My buyer client wants to include in her initial offer a requirement that the seller repair a specific item listed in the seller’s disclosure notice as in need of repair. She also wants to request that the seller contribute to closing costs. What is the best way to prepare the offer with these terms?
- On the fourth day of a 10-day option period, my seller client started fixing five items that he agreed to repair in an amendment (TAR 1903). On the sixth day, the buyer sent the seller a notice terminating the contract under his termination option in Paragraph 23. My client is upset because he already repaired two of the five items. Is a buyer allowed to terminate during the option period even after the seller has started making repairs?
- It’s the last day of my buyer’s option period. The buyer and seller are still negotiating repairs and want to extend the option period. How do we do that?
- My seller client has an executed contract with a buyer. After the buyer completed his inspection during the option period, the buyer asked my client to make several repairs and to use a repairman the buyer chose. My client agreed to complete the repairs, but does he have to agree to use the buyer’s repairman?
- After my buyer completed his inspection, he sent the seller an amendment to ask for several repairs. The seller responded with his own amendment that stated he would complete one of the requested repairs and that the contract would terminate if the buyer didn’t sign the amendment within 24 hours. Can the seller terminate the contract if the buyer doesn’t accept the amendment?
- Commercial: The seller of a commercial property has rejected my client’s offer to purchase that property. We used TAR form 1801, Commercial Contract—Improved Property. The seller’s agent said the seller rejected the offer because he was selling the property “as is” and was not going to do any repairs. Therefore, the buyer’s request for a feasibility period and his right to inspect the property were not necessary for the contract. The listing agent suggests that we submit another offer without the feasibility paragraph checked on the form. Do we have to choose between the property condition “as is” paragraph and the feasibility paragraph in the contract?
- My client won’t accept the property “as is.” He wants to wait until after the inspection to list specific repairs that he wants the seller to fix. Can I leave both boxes in Paragraph 7D of the One to Four Family Residential Contract (Resale) blank, or can I check Paragraph 7D(2) and write in “repairs to be listed following inspections”?
