Good afternoon:

I have not heard from any of you regarding changes to purchase agreement so I had final review by attorney on Friday and you will find attached. I will need to have approved by our E&O insurance carrier then get to work putting in to service so please do not use until I let you know. I feel real good about it, it will lessen load on you as far as filling out and provide for some of the things that were missing in our daily practice. Below please find a synopsis of the changes:

Escrow agent language added (highlighted on attached)
Building code or health violations amended (highlighted on attached)
C.A.U.V. language has been removed
Line numbers added
5 pages instead of 6
Walk through provision built in
Cyber security language added in bold
No initial/date spots at bottom of first 4 pages (pages referenced so only need sig on page 5)
Other places initials removed
Slightly larger margins
Easier to read font
Less redundant language
Seller closing cost contribution language added
Rent back language cleaned up
Secondary offer language removed
Inspection:
Costs assumed responsibility of buyer
Check Yes only (no check No)
Language bolded speaking to buyer about inspections
Provision added that adds 5 days to inspection period and additional inspections if recommendations for additional inspections are called for
3 day response period to seller starts at the completion of last inspection (instead of after each inspection)
Additional option to negotiate costs or reduce sales price after inspection
Terminating due to inspection made easier.
Mutual release after 4 days instead of 3, after reviewing with counsel we need to leave this as is.

Thanks,

BGW


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Brian G. Walsh,
Apr 8, 2018, 12:29 PM