A buyer and a seller agree that the seller will pay for the survey under Paragraph 6C(1) of the TREC contract. They also agree that the seller will pay up to $2,000 of the buyer’s expenses under Paragraph 12A(1)(b). Does the cost of the survey fall within that $2,000, or will the seller pay the cost of the survey in addition to the $2,000?

1 minuteread
  • Home
  • /
  • Knowledgebase
  • /
  • Contracts and Forms
  • /
  • A buyer and a seller agree that the seller will pay for the survey under Paragraph 6C(1) of the TREC contract. They also agree that the seller will pay up to $2,000 of the buyer’s expenses under Paragraph 12A(1)(b). Does the cost of the survey fall within that $2,000, or will the seller pay the cost of the survey in addition to the $2,000?

Checking Paragraph 6C(1) makes the survey a seller’s expense—not a buyer’s expense—so the seller will pay for the survey in addition to up to $2,000 in buyer’s expenses.

If the seller wants to limit his contribution to the buyer’s survey costs, the most direct approach is to check Paragraph 6C(2) and include the amount the seller wants to contribute in Paragraph 12A(1)(b).

Source: TAR

0
0
82
Print
Share
  • Facebook
  • Twitter
  • Linkedin
1 minuteread
X
Welcome to Realty Nation
wpChatIcon
Scroll to Top