Consider the following type of clause:
“The Seller represents and warrants to the best of his knowledge and belief that the swimming pool and equipment are now, and on the completion shall be, in good working order. The Parties agree that this representation and warranty shall survive and not merge on completion of this transaction, but apply only to the state of the property existing at completion of this transaction.”
From the Seller’s perspective, best approach is:
1) no clause,
2) belief clause,
3) day of closing clause,
4) 30 days after closing clause,
5) whenever the Buyer gets around to opening the pool clause.
From the Buyer’s perspective, best approach is:
1) whenever the Buyer gets around to opening the pool clause.
2) 30 days after closing clause,
3) day of closing clause,
4) belief clause,
5) no clause.
Brian Madigan LL.B., Broker