Common use of Seller’s Property Disclosure Clause in Contracts

Seller’s Property Disclosure. Pursuant to the requirements of the Tennessee Residential Property Condition Disclosure 206 Act at Tenn. Code Xxx. § 66-5-201, et seq. as amended, a Property Condition Disclosure Statement, Exemption, or if 207 Buyer waives Disclosure, a Disclaimer, has been or will be provided prior to the Binding Agreement Date. 208 7. Lead-Based Paint Disclosure (Select the appropriate box below. Items not selected are not part of this 209 Agreement). 210 □ does not apply. □ does apply (Property built prior to 1978 – see attached Lead-Based Paint Disclosure). 211 8. Inspections. 212 A. Buyer’s Right to Make Inspection(s). All inspections/reports, including but not limited to the home inspection 213 report, those required/recommended in the home inspection report, Wood Destroying Insect Infestation 214 Inspection Report, septic inspection and well water test, are to be made at Buyer's expense, unless otherwise 215 stipulated in this Agreement. The parties hereto agree that in the event Buyer shall elect to contract with a third 216 party inspector to obtain a “Home Inspection” as defined by Tennessee law, said inspection shall be conducted by a 217 licensed Home Inspector. However, nothing in this paragraph shall preclude Buyer from conducting any inspections 218 on his/her own behalf, nor shall it preclude Buyer from retaining a qualified (and if required by law, licensed) 219 professional to conduct inspections of particular systems or issues within such professional’s expertise or licensure, 220 including but not limited to inspection of the heating/cooling systems, electrical systems, foundation, etc., so long as 221 said professional is not in violation of Tenn. Code Xxx. § 62-6-301, et seq. as may be amended. Seller shall cause 222 all utility services and any pool, spa, and similar items to be operational so that Buyer may complete all 223 inspections and tests under this Agreement. Buyer agrees to indemnify Seller from the acts of himself, his 224 inspectors and/or representatives in exercising his rights under this Purchase and Sale Agreement. Buyer’s 225 obligations to indemnify Seller shall also survive the termination of this Agreement by either party, which shall 226 remain enforceable. Buyer waives any objections to matters of purely cosmetic nature (e.g. decorative, color or 227 finish items) disclosed by inspection. Buyer has no right to require repairs or alterations purely to meet 228 current building codes, unless required to do so by governmental authorities. In the event Buyer fails to timely 229 make such inspections and respond within said timeframe as described herein, the Buyer shall have forfeited any 230 rights provided under this Paragraph 8, and in such case shall accept the Property in its current condition, 231 normal wear and tear excepted. 232 B. Initial Inspections. Buyer and/or his inspectors/representatives shall have the right and responsibility to enter the 233 Property during normal business hours, for the purpose of making inspections and/or tests of the Property. Buyer 234 and/or his inspectors/representatives shall have the right to perform a visual analysis of the condition of the 235 Property, any reasonably accessible installed components, the operation of the Property’s systems, including any 236 controls normally operated by Seller including the following components: heating systems, cooling systems, 237 electrical systems, plumbing systems, structural components, foundations, roof coverings, exterior and interior 238 components, any other site aspects that affect the Property, and environmental issues.

Seller’s Property Disclosure. Pursuant to the requirements of the Tennessee Residential Property Condition Disclosure 206 Act at Tenn. Code Xxx. § 66-5-201, et seq. as amended, a Property Condition Disclosure Statement, Exemption, or if 207 Buyer waives Disclosure, a Disclaimer, has been or will be provided prior to the Binding Agreement Date. 208 7. Lead-Based Paint Disclosure (Select the appropriate box below. Items not selected are not part of this 209 Agreement). 210 □ does not apply. □ does apply (Property built prior to 1978 – see attached Lead-Based Paint Disclosure). 211 8. Inspections. 212 A. BuyerX. Xxxxx’s Right to Make Inspection(s). All inspections/reports, including but not limited to the home inspection 213 report, those required/recommended in the home inspection report, Wood Destroying Insect Infestation 214 Inspection Report, septic inspection and well water test, are to be made at Buyer's expense, unless otherwise 215 stipulated in this Agreement. The parties hereto agree that in the event Buyer shall elect to contract with a third 216 party inspector to obtain a “Home Inspection” as defined by Tennessee law, said inspection shall be conducted by a x 217 licensed Home Inspector. However, nothing in this paragraph shall preclude Buyer from conducting any inspections 218 on his/her own behalf, nor shall it preclude Buyer from retaining a qualified (and if required by law, licensed) 219 professional to conduct inspections of particular systems or issues within such professional’s expertise or licensure, 220 including but not limited to inspection of the heating/cooling systems, electrical systems, foundation, etc., so long as 221 said professional is not in violation of Tenn. Code Xxx. § 62-6-301, et seq. as may be amended. Seller shall cause 222 all utility services and any pool, spa, and similar items to be operational so that Buyer may complete all 223 inspections and tests under this Agreement. Buyer Xxxxx agrees to indemnify Seller from the acts of himself, his 224 inspectors and/or representatives in exercising his rights under this Purchase and Sale Agreement. Buyer’s 225 obligations to indemnify Seller shall also survive the termination of this Agreement by either party, which shall 226 remain enforceable. Buyer waives any objections to matters of purely cosmetic nature (e.g. decorative, color or 227 finish items) disclosed by inspection. Buyer has no right to require repairs or alterations purely to meet 228 current building codes, unless required to do so by governmental authorities. In the event Buyer Xxxxx fails to timely 229 make such inspections and respond within said timeframe as described herein, the Buyer shall have forfeited any 230 rights provided under this Paragraph 8, and in such case shall accept the Property in its current condition, 231 normal wear and tear excepted. 232 B. Initial Inspections. Buyer Xxxxx and/or his inspectors/representatives shall have the right and responsibility to enter the 233 Property during normal business hours, for the purpose of making inspections and/or tests of the Property. Buyer 234 and/or his inspectors/representatives shall have the right to perform a visual analysis of the condition of the 235 Property, any reasonably accessible installed components, the operation of the Property’s systems, including any 236 controls normally operated by Seller including the following components: heating systems, cooling systems, 237 electrical systems, plumbing systems, structural components, foundations, roof coverings, exterior and interior 238 components, any other site aspects that affect the Property, and environmental issues.