Seller Attorney Review Language

Opening Passages

 This is to advise you that I am in receipt of the Contract of Sale, dated July 15, 2022, as well as your Buyer attorney review addendum (“Buyer Addendum”) dated July 15, 2022. The Contract and Buyer Addendum are disapproved in present form but will be acceptable with the following changes, which will be referred to as the Seller Addendum:

Specific Provisions

This Seller Addendum shall amend and modify the above-noted Contract. Except as amended herein, all the terms, covenants and conditions of the Contract and any previously executed Addendum shall remain in full force and effect.  In the event of any inconsistencies between the terms of the Contract/Addendum and this Addendum, the terms of this Addendum shall govern the relationship between the parties.

The date on which the Contract’s Attorney Review contingency is completed is by virtue of the Buyer’s attorney telecopying this Addendum signed by both parties to the Seller’s attorney.

All Seller representations contained in the Contract and associated disclosures are amended to be preceded by the phrase “To the best of Seller’s knowledge”.

Inspection Provisions: See Buyer Addendum section 6, as modified.

The Parties agree that any omission or errors in making the final adjustments at the time of the closing shall be corrected and paid within 15 days after written notification of such error by either party is given to the other party. This representation shall survive the closing of title.

The Seller shall have the option to close by mail.

The Buyer expressly waives the right to cancel the Contract on the basis of the appraised value of the Property. Buyer may conduct an appraisal for informational purposes.

Buyer acknowledges the age of the Property and the terms and conditions of the lead paint disclosure.

In the event the homestead rebate owed to Seller is applied to the municipal taxes after closing, Buyer is obliged to promptly reimburse Seller directly for the amount applied to the municipal taxes. Seller agrees to ascertain the amount prior to closing so that an appropriate escrow can be established. This provision shall survive closing of title. It is acknowledged by the Parties that this program has been suspended temporarily due to budgetary issues related to COVID-19 and, thus, may not apply to this transaction.

The following provision is added to the Contract, “Either party may cancel the Contract if any pre-closing casualty loss results in the need for repairs and/or replacements whose costs in the aggregate exceeds 10% of the purchase price.  Any less than that percentage loss setting may be resolved by the Seller by either repair, replacement, and/or credit to the Buyer.”

In the event the cost to obtain any a certificate of occupancy, smoke detector and carbon monoxide certificate exceeds $500.00 in the aggregate, and Seller is unwilling to pay for the additional expense, Buyer may cover the additional expense, else either party may cancel the Contract.

Any assessments, taxes, dues and other fees and expenses paid in advance by Seller will be pro rate adjusted at the Closing. It is the intention of the Parties that this pro rata provision will apply to all expenses that are paid in advance by the Seller.

Statements, representations, and warranties made by the Seller are made to the best of Seller’s knowledge and shall not survive the closing of title.

Any parties’ attorney’s signatures on behalf of a client shall be deemed a client signature. Any signature contained within a telecopier transmitted communication shall be deemed to be an original, and documents may be executed in counterparts.

Any reference to Seller paying one-half of title company charges for disbursements and attendance shall be deleted. Any reference to Seller bearing responsibility for termite inspection and remediation costs shall also be deleted. Parties shall negotiate all inspection matters in good faith and per Contract provisions.

Unless expressly stated otherwise in the Contract, and unless agreed to in writing by the Seller, the fulfillment of Seller remedies and responsibilities shall be limited to $500.00.

Additional COVID-19 Provisions:

Buyer will immediately notify Seller in the event a change in employment or other circumstances will affect Buyer’s capacity to close on the scheduled date.

If the Closing is not practical or possible on the scheduled date as a result of unforeseen circumstances related to the COVID-19 pandemic, such as Seller’s or Buyer’s inability to travel to sign documents or delays in government or business services, then the Parties agree that the closing may be postponed up to 30 days to accommodate said unforeseen circumstances, after which time either party may cancel the Contract.

Closing Passages

If the foregoing is acceptable to the Buyer, kindly indicate your approval by affixing your signature in the signature block below and returning this Seller Addendum to my office.