1. Possession is at close of escrow unless otherwise negotiated.

2. Fixtures and Personal Property automatically included in your sale. Items

included but not limited to: Range, dishwasher and basically anything attached

to the walls or property. That big screen TV attached to the MAY also be

included unless otherwise disclosed (its a gray area on relies on intent). Those

hand sown curtains and the family chandelier is also included unless disclosed.

So take these types of items down and replace with something different or DISCLOSE

everywhere. Make sure its put in listing and purchase contract. We may not have known

that a certain item may hold a sentimental value or a financial value, like a 50" LCD TV. If

your not sure, ASK and PUT IT ON THE CONTRACTS! Tip: Put a sign on what's not included.

3. Tax prorations. Real property taxes payable by the Seller shall be

prorated to COE (close of escrow) based upon the latest tax

information available.

4. Release of earnest money. In the event of a dispute between Buyer and Seller

regarding and Earnest Money deposited with Escrow Company, Buyer and

Seller authorize Escrow Company to release Earnest Money pursuant to the

terms and conditions of this Contract in its sole and absolute discretion. Buyer

and seller agree to hold harmless and indemnify Escrow Company against any

claim, action or lawsuit of any knd, and from any loss, judgment, or expense, in

cluding costs and attorney fee, arising from or relating in any way to the release

of Earnest Money.

5. Seller property disclosure statement ("SPDS") Seller shall deliver a completed

AAR SPDS form to the Buyer withing fieve (5) days after Contract acceptance.

6. Seller Warranties: Seller warrants and shall maintain and repair the Premises

so that, at the earlier of possession or COE: (i) all heating, cooling, mechanical,

plumbing, and electrical systems (including swimming pool and/or spa, motors,

filter systems, cleaning systems, and heaters, if any), free-standing range/oven,

and built-in appliances will be in working condition; (ii) all other agreed upon re

pairs and corrections will be completed pursuant to Section 6j; (iii) the

Premises, including all additional existing personal property included in the sale,

will be in substantially the same condition as on the date of Contract

acceptance; and (iv) all personal property not included in the sale and all debris

will be removed from the Premises.

7. Inspection Period: Buyer's Inspection Period shall be ten (10) days or days after

Contract acceptance. During the Inspection Period, Buyer, at Buyer's expense,

shall (i) conduct all desired physical, environmental, and other types of

inspections and investigations to determine the value and condition of the

Premises; (ii) make inquiries and consult government agencies, lenders,

insurance agents, architects, and other appropriate persons and entities

concerning the suitability of the Premises and the surrounding area; (iii)

investigate applicable building, zoning, fire, health, and safety codes to

determine any potential hazards, violations or defects in the Premises; and (iv)

verify any material multiple listing service ("MLS") information. If the presence

of sex offenders in the vicinity or the occurrence of a disease, natural death,

suicide, homicide or other crime on or in the vicinity is a material matter to the

Buyer, it must be investigated by the Buyer during the Inspection Period.

Buyer shall keep the Premises free and clear of liens, shall indemnify and hold

Seller harmless from all liability, claims, demands, damages, and costs, and

shall repair all damages arising from the inspections. Buyer shall provide Seller

and Broker(s) upon receipt, at no cost, copies of all inspection reports

concerning the Premises obtained by Buyer. Buyer is advised to consult the

Arizona Department of Real Estate Buyer Advisory provided by AAR to assist

in Buyer's due diligence inspections and investigations.

8. Inspection Period Notice: Prior to expiration of the Inspection Period, Buyer

shall deliver to Seller a signed notice of any items disapproved. AAR's Buyer's

Inspection Notice and Seller's Response form is available for this purpose.

Buyer shall conduct all desired inspections and investigations prior

to delivering such notice to Seller and all Inspection Period items disapproved

shall be provided in a single notice.

9. Buyer Disapproval: If Buyer, in Buyer's sole discretion, disapproves of items as

allowed herein, Buyer shall deliver to Seller notice of the items disapproved

and state in the notice that Buyer elects to either: (1) immediately cancel this

Contract and all Earnest Money shall be released to Buyer, or (2) provide the

Seller an opportunity to correct the items disapproved, in which case: (a) Seller

shall respond in writing within five (5) days or days after delivery to Seller of

Buyer's notice of items disapproved. Seller's failure to respond to Buyer in

writing within the specified time period shall conclusively be deemed Seller's

refusal to correct any of the items disapproved. (b) If Seller agrees in writing to

correct items disapproved, Seller shall correct the items, complete any repairs

in a workmanlike manner and deliver any paid receipts evidencing the

corrections and repairs to Buyer three (3) days or days prior to COE Date. (c)

If Seller is unwilling or unable to correct any of the items disapproved, Buyer

may cancel this Contract within five (5) days after delivery of Seller's response

or after expiration of the time for Seller's response, whichever occurs first, and

all Earnest Money shall be released to Buyer. If Buyer does not cancel this

Contract within the five (5) days as provided, Buyer shall close escrow without

correction of those items that Seller has not agreed in writing to correct.

10. Walkthrough(s): Seller grants Buyer and Buyer's inspector(s) reasonable

access to conduct walkthrough(s) of the Premises for the purpose of satisfying

Buyer that any corrections or repairs agreed to by the Seller have been

completed, warranted items are in working condition and that the Premises is

in substantially the same condition as of the date of Contract acceptance. If

Buyer does not conduct such walkthrough(s), Buyer releases Seller and

Broker(s) from liability for any defects that could have been discovered.

 
This post has been included in Arizona Information

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Johnathan Mullaney, Broker, Flagstaff Real Estate

Flagstaff, AZ

More about me…

Village Land Shoppe

Address: 158 Kachina Trail, Flagstaff, AZ, 86001

Office Phone: (928) 525-1125

Cell Phone: (928) 773-7877

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