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부동산

Real Estate Law 49

2019.05.10 08:32 Views : 93

Check Your Understanding Answers

  1. What three options do the parties have on the purchase agreement for when the buyer will receive possession of the property?

    Paragraph 9B provides the following options:
    • At 6pm (or another specified time) on the date of escrow
    • No later than a written in number of days after close of escrow
    • At a specific time on a specific date
       
  2. What does Paragraph 10A provide the buyer in regards to disclosure cancellation rights?

    Buyer has the right to cancel the contract by written notice within 3 days of delivery in person of any disclosure or amended disclosure discussed in paragraph 10A(1) if the disclosure or notice is provided after the purchase agreement is signed.
     
  3. List three topics addressed in the Time Periods; Removal of Contingencies; and Cancellation Rights paragraph. (Additional correct answers on page 33.)
    • How contingencies and other obligations are performed
    • Time periods for delivery of disclosures, conducting inspections, and removal of contingencies
    • Cancellation rights from both parties
       
  4. Describe the Final Verification of Condition provision.

    The provision gives the buyer the right to make a final verification of the property within 5 days (or another specified number) prior to the close of escrow. This is NOT a contingency of the sale, but is to confirm the property has been maintained, repairs have been completed (if agreed to), and seller has fulfilled other obligations under the purchase agreement.
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