Minimum Resale Standards Clause Samples

Minimum Resale Standards. Pursuant to the Guidelines, Section XX, each Owner shall be responsible for ensuring that at the Transfer of his or her Unit, the same is clean, the appliances are in working order, and that there are no health or safety violations regarding the Unit. Seller’s Property Disclosure form and Seller’s Listing Checklist shall be completed and submitted prior to listing a unit for sale. Seller shall describe conditions meeting Minimum Resale Standards and all conditions, items, fixtures, installations, etc., in the unit requiring repair and/or cleaning as outlined in the Guidelines. a. If a Unit does not meet Minimum Resale Standards, Housing Authority may, at its discretion, require that the cost of necessary repairs be deducted from the closing sale price, or that Seller place into escrow the funds necessary to ensure satisfactory repairs. Any escrow balance remaining after necessary repairs are satisfactorily made shall be returned to Seller.