Late Winter Pool Clause
Here is a late winter pool clause for Buyers. The pool right now is closed and no ine=spection can be done. It's not a worthless pool. The Buyer is actually paying extra money.
So, consider something like the following:
Pool Clause
The parties agree that the swimming pool shall be opened not later than xx April, 2017, by a profession pool maintenance company, selected by the Seller, at the Buyer’s expense.
The Seller represents and warrants:
1) That the swimming pool to the best of the Seller’s knowledge and belief, its equipment, and the fencing of the said pool, comply with all applicable bylaws, regulations, and legislation,
2) That the swimming pool and equipment are now, and on a date 60 days following the completion date, shall be, in good working order, and
3) To pay for the cost of any repairs required, not covered by insurance in excess of $500.00 which are required to place the swimming pool in good working order.
The Parties agree that this representation and warranty shall survive and not merge on completion of this transaction, but apply only to the state of the property existing at completion of this transaction.
Comment
The Seller picks up the major risk. The Buyer pays the first $500.00. That gets rid of all the small issues. Insurance will pay for major items. The Seller should maintain his own homeowner's policy to cover this. The Seler still maintains an insurable interest in the property until this is satisfied. There is a specified "end date" where the Seller is off the hook if the Buyer doesn't do anything.
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