Considering adding the following clause to Schedule “B”:
- “If the Buyer’s Offer is conditional upon the inspection of the subject property by a home inspector, and the report obtained is not satisfactory to the Buyer, the Buyer shall, prior to the expiry of the conditional period, deliver to the Seller a copy of the written inspection report together with a written statement identifying the specific deficiencies upon which the Buyer’s dissatisfaction is based.
- The Seller shall thereafter have 48 hours to advise the Buyer in writing that the Seller is willing and able to remedy such deficiencies in a good and workmanlike manner prior to completion, at the Seller’s expense, or in the alternative to credit the Buyer on closing with the reasonable cost of such remedy.
- Where the Seller so elects, the conditional period shall be extended as necessary to permit completion of the said work, and upon completion the said condition shall be deemed fulfilled and this Agreement shall continue in full force and effect.
- The Buyer shall be entitled to one (1) return attendance at the property, at the Buyer’s expense and upon reasonable notice, by the Buyer, the Buyer’s brokerage representative, and/or a home inspector, for the sole purpose of verifying the completion of the remedial work, and the Buyer’s satisfaction with such work shall not be unreasonably withheld. The Seller agrees to co-operate in providing access to the property for the purposes of any inspection contemplated herein.”
I don’t mind the “idea” but I think it says that:
- the Seller is desperate and
- will give up their rights and
- will fix anything, no matter what,
- in order to get the deal closed.
From the Buyer’s point of view: “OK, thanks, let me find some things for you to fix”.
Brian Madigan LL.B., Broker