Buyer Can Agree to Waive Repair of Warranted Items
There are a series of Q&A articles by the Arizona Association of Realtors that discuss issues related to the purchase and sale of Arizona Real Estate. They are very informational, and excellent examples of what can happen during a real estate transaction. Although this post is not legal advice, and is for informational purposes only, I thought it would be great to share with those of you who may be interested in buying or selling homes in the East Valley in the near future.
ISSUE:
During the 10-day inspection period, the buyer in the Buyer Inspection Notice and Seller's Response (BINSR) furnished notice of non-working warranted items, such as the air conditioning and the swimming pool motor, and requested roof repairs, including replacement of several roof shingles. In the seller’s BINSR response, the seller agreed to make the requested roof repairs. The seller also offered a $3,000 reduction in the purchase price in lieu of “all repairs.” The buyer accepted this $3,000 offer. Is the seller still obligated to repair by close of escrow the warranted items such as the air conditioning and the swimming pool motor?
ANSWER:
Probably not. The seller basically offered to amend the contract by providing in the BINSR for payment of $3,000 in lieu of all repairs. After the buyer accepted the seller’s $3,000 offer to amend the contract, the seller should have no obligation to make any repairs, including repairs to warranted items such as the air conditioning and the swimming pool motor.
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