Common use of Seller’s Knowledge of Property Clause in Contracts

Seller’s Knowledge of Property. Purchaser acknowledges that the Seller’s purchase of the property may have resulted from a transfer made by a beneficiary under a deed to secure debt, mortgage or deed of trust (“security instrument”) who acquired the property at a judicial foreclosure sale or foreclosure sale conducted pursuant to powers contained in the security instrument, or via deed in lieu foreclosure. Further, regardless of how Seller obtained title, Seller is not familiar with the condition of the property, other than as may be disclosed in any inspection reports obtained by or on behalf of Seller, Seller’s representatives or agents, or that Seller may have received otherwise. Any such reports furnished by Seller or its agents in connection herewith shall be for informational purposes only, are not made a part of the Agreement, and Seller makes no representations or warranties about their accuracy or completeness. Purchaser acknowledges that in consideration of Seller’s execution of the Agreement, Purchaser, on behalf of itself and all other parties having any claims, covenants that neither Purchaser nor any such other party will xxx, commence, prosecute or in any way participate in any judicial, administrative, or other regulatory proceedings for breach of contract based on any disclosures relating to any alleged breach or violation of any state law, rule or regulation by Seller, or any other party engaged on Seller’s behalf, including, without limitation any real estate broker or agent representing Seller.

Seller’s Knowledge of Property. Purchaser acknowledges that the Seller’s purchase of the property may have resulted from a transfer made by a beneficiary under a deed to secure debt, mortgage or deed of trust (“security instrument”) who acquired the property at a judicial foreclosure sale or foreclosure sale conducted pursuant to powers contained in the security instrument, or via deed in lieu foreclosure. Further, regardless of how Seller obtained title, Seller is not familiar with the condition of the property, other than as may be disclosed in any inspection reports obtained by or on behalf of Seller, Seller’s representatives or agents, or that Seller may have received otherwise. Any such reports furnished by Seller or its agents in connection herewith shall be for informational purposes only, are not made a part of the Agreement, and Seller makes no representations or warranties about their accuracy or completeness. Purchaser acknowledges that in consideration of Seller’s execution of the Agreement, Purchaser, on behalf of itself and all other parties having any claims, covenants that neither Purchaser nor any such other party will xxxsue, commence, prosecute or in any way participate in any judicial, administrative, or other regulatory proceedings for breach of contract based on any disclosures relating to any alleged breach or violation of any state law, rule or regulation by Seller, or any other party engaged on Seller’s behalf, including, without limitation any real estate broker or agent representing Seller.