Inspection Contingency definition

Inspection Contingency. This Offer is contingent upon a qualified independent inspector conducting an inspection, at Buyer's expense, of the Unit/and ______________________________________________________________________ which discloses no defects as defined below. This contingency shall be deemed satisfied unless Buyer, within _____ days of acceptance, delivers to Seller a copy of the inspector's written inspection report and a written notice listing the defects identified in the inspection report to which Buyer objects. Buyer agrees to deliver a copy of the report and notice to Sweeney & Sweeney, S.C., if Propexxx xx lisxxx, xxon delivery to Seller.
Sample 1
Inspection Contingency. Yes No Other inspections, if any: Well Septic Lead Paint Radon Other Purchase Agreement Fee ($350): Buyer Seller Split Water Softener: Owned Rented No Liquid Fuel Tanks: Owned Rented No City Sewer: Yes No City Water: Yes No Home Protection/Warranty: Yes No Financing Information Notices Seller (Current Mortgage Information) Name of Lender: Social Security Numbers: If the sale involves a townhome or condominium, the Seller must provide copies of the Declaration, Bylaws, and budget for the association along with a Common Interest Community Resale Disclosure Certificate. BUYER (if obtaining financing). Name of Lender: Taxes are typically pro-rated, which means that the Seller pays taxes for the time period prior to closing and the buyer pays taxes from the time period after closing. Loan Officer: Type of Loan: FHA Conventional VA Other: Taxes will be pro-rated: Yes No Assessments will be pro-rated: Yes No Loan Amount: If the home is served by fuel, oil, or propane, the amount remaining in the tank at closing may be purchased by the Buyer or included in the sale price. Please indicate which: Include in sale Purchased Separately Closing Agent: Buyer and Seller can use Xxxxxx Xxxxxx, Ltd. as the title company and closing agent for both parties if they both agree. Buyer’s Title Company:_ Seller’s Title Company: THIS IS NOT A PURCHASE AGREEMENT AND CANNOT BE USED AS ONE. SEND THIS FORM TO XXXXXX XXXXXX, LTD. TO PREPARE A PURCHASE AGREEMENT. NEITHER SELLER NOR BUYER ARE OBLIGATED TO SELL OR PURCHASE UNLESS A PURCHASE AGREEMENT IS SIGNED BY ALL PARTIES. Any additional notes that you would like included in the Purchase Agreement: PURCHASE AGREEMENT INTAKE FORM PAGE 4 Xxxxxx Xxxxxx, LTD. 0000 Xxxxxxxxx Xxxxx XX, #000 Rochester, Minnesota 55902 Phone: (000)-000-0000 FAX: (000)-000-0000
Sample 1

Examples of Inspection Contingency in a sentence

  • Failure to deliver to the Seller either a written Notice of Release or Notice of Cancellation, or a written Inspection Contingency Removal Proposal within the Due Diligence Period described on Lines 74-75 will be considered to be an acceptance of the property “as is,” and the Inspection Contingency will be satisfied and no longer a part of this Agreement.

  • If this Contract is subject to a property inspection contingency, the parties must execute a Property Inspection Contingency Addendum which shall become part of this Contract.

  • If Seller refuses to complete the lender required repairs (Lines 63-66), or cancels this 97 Agreement by rejecting an Inspection Contingency Removal Proposal (Lines 85-89), Buyer has the right to reinstate the 98 Agreement by delivering to Seller a Notice stating that the Buyer will accept the property in its present "as is" condition.

  • Inspection Contingency – The Buyer can use this addendum to determine if there are any major defects with the property.

  • Inspection Contingency – This clause gives the Buyer the authority to have the home inspected by a professional inspector.

  • See Paragraph 13(C) for more information regarding the Individual On-lot Sewage Inspection Contingency.

  • If Xxxxxx refuses to complete the lender required repairs (Lines 63-66), or cancels this 97 Agreement by rejecting an Inspection Contingency Removal Proposal (Lines 85-89), Xxxxx has the right to reinstate the 98 Agreement by delivering to Seller a Notice stating that the Buyer will accept the property in its present "as is" condition.

  • In consideration of the Buyer’s right of inspection and election to terminate pursuant to the Inspection Contingency paragraph herein, the Buyer releases the Seller from any claim for injury to person or property caused by asbestos as provided herein, and agrees to release and/or indemnify the Seller from any cost or expense of removal of any asbestos, should the need be necessary.

  • Buyer represents that Buyer has examined the property and is satisfied with the physical condition subject to the Inspection Contingency if applicable.

  • If the Inspection Contingency box in Section 2.19 is “Yes”, then this Agreement is subject to a property inspection contingency and Section 7.1 does not apply.

Related to Inspection Contingency

  • Due Diligence Examination shall have the meaning set forth in Section 3.2.

  • Independent Engineer means XxXxxxxx and XxxXxxxxxxx or any other third party engineering firm acceptable to the Administrative Agent in its sole discretion.

  • Environmental Audit means, with respect to each Property, a Phase One environmental site assessment (the scope and performance of which meets or exceeds the then most current ASTM Standard Practice E1527 for Environmental Site Assessments: Phase One Environmental Site Assessment Process) of such Property.

  • Contracting Body Satisfaction Survey shall have the meaning set out in Clause 18.1;

  • Home inspection report means a written report that is

  • Inspection Period means the period beginning on the Effective Date and expiring at 5:00 p.m. eastern time on the forty-fifth day after the Effective Date.

  • Inspection Report means the report delivered by the Master Servicer or the Special Servicer, as the case may be, substantially in the form of Exhibit L hereto.

  • Special inspector means an inspector holding a Washington commission identified under RCW 70.79.130.

  • Construction Consultant means a third-party architect or engineer selected and retained by Funding Lender, at the cost and expense of Borrower, to monitor the progress of construction and/or rehabilitation of the Project and to inspect the Improvements to confirm compliance with this Borrower Loan Agreement.

  • The Inspecting Officer means the person specified in the contract for the purpose of Inspection of stores or work under the contract and includes his authorised representative;

  • Inspections has the meaning set forth in Section 4.1.2.

  • Inspecting Officer means any officer as mentioned below corresponding to different departments:

  • Construction Completion Date means the date by which the overall development of the Project is completed in accordance with the provisions of this Agreement and when the Construction Completion Certificate is issued by the Independent Engineer as per Article 14.1.

  • Certificate of inspection means an unsworn statement,

  • Home inspection means the on-site, physical review of the home of an applicant to assure the applicant and the home meets all health and safety requirements within these rules.

  • Environmental Assessment means an assessment of the presence, storage or release of any hazardous or toxic substance, pollutant or contaminant with respect to the collateral securing a Shared-Loss Loan that has been fully or partially charged off.

  • Phase I Environmental Assessment A “Phase I assessment” as described in, and meeting the criteria of, the ASTM, plus a radon and asbestos inspection.

  • Improvement completion assurance means a surety bond, letter of credit,

  • Construction Completion means physical construction of a cleanup action component is complete.

  • Environmental Consultant has the meaning set forth in Section 5.17(a).

  • Site Visit means a visit to the Site; and

  • Inspection Fee means a fee payable to Lender or Loan Servicer for performing any inspection required by this Agreement in an amount not to exceed $500.00 per inspection.

  • Site Engineer means an Engineer appointed by the SBIIMS at site as their representative for day-to-day supervision of work and to give instructions to the contractors.

  • Phase II means the second part of the tuition incentive assistance program which provides assistance in the third and fourth year of 4-year degree programs.

  • Project Engineer means the surveyor or engineer employed by or private

  • Environmental Impact Assessment means a systematic examination conducted to determine whether or not a programme, activity or project will have any adverse impacts on the environment;