Septic and Water Warranties

Question:

I am the Listing Agent and I have an Offer which contains very strong septic and water warranties. What can I do here?

Answer:

The Buyer is obviously looking for something here. The problem is that the Seller really can’t be sure. The representations and warranties which serve as an inducement may seem less onerous at the outset, BUT they survive closing.

If you went with a Condition here, you would tie up the property for a few days, however, the Seller’s liability is substantially lessened. The Buyer takes the risk. This is a lot better than fooling around with the wording.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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