Inspection Contingency Addendum to Purchase Agreement

1. INSPECTION CONTINGENCY ADDENDUM

This Inspection Contingency Addendum (“Addendum”) made on ______________________, 20____ shall amend the agreement created on ______________________, 20____ (“Agreement”) for the property located at ______________________ City of ______________________, State of ______________________ (“Property”) by and between ______________________ (“Seller”) and ___________________ (“Buyer).”

The Agreement is contingent upon an inspection to be conducted by the Buyer and any third (3rd) party of their choice. Inspection shall be to determine the condition and performance relative to the intended function of the following items:

1. CHECK ALL THAT APPLY

- Air Conditioning

- Basements

- Ceilings

- Floors

- Electrical Systems/Wiring

- Foundations

- General Inspection

- Heating

- HVAC

- Plumbing Systems

- Roofs

- Walls (Interior/Exterior)

- Other. _______________________________________

1. - Other. _______________________________________

- Other. _______________________________________

Inspector shall be required to possess all necessary qualifications and licenses in order to legally practice their professional designation. Buyer shall satisfy Seller as to the qualifications of the inspector as needed. Any inspection shall be at the cost of the ☐ - Buyer ☐ - Seller ☐ - 50% Buyer / 50% Seller.

Seller agrees to make the Property reasonably available for an inspection and any tests done by the FHA, VA, or other government entity shall be done and paid for in accordance with the applicable regulations and are not part of this Addendum.

Maintenance that is considered “routine” shall not be considered part of this Addendum. All inspections must be completed by ______________________, 20____ and any defects or repairs found shall be delivered to the Seller by ______________________, 20____.

Any objections by the Buyer shall be limited to deficiencies that adversely affect the value of the Property including but not limited to the structural and/or mechanical integrity of the buildings or the safety and health of its occupants.

If any objection presented is not waived, adjusted, or negotiated between the Buyer and Seller by ______________________, 20____, the Buyer shall be refunded, in-full, their earnest money deposit and both parties shall be released from further liability to one another.

If the Buyer fails to have an inspection performed on the Property or inform the Seller of any objections in accordance with the above-stated dates this Addendum shall not be included as part of the Agreement.

Seller - Shall - Shall Not have the right to continue selling the Property during the period of this Addendum.

1. Buyer’s Signature _______________________________________ Date ______________

1. Buyer’s Signature _______________________________________ Date ______________

1. Seller’s Signature _______________________________________ Date ______________

1. Seller’s Signature _______________________________________ Date ______________

1. Agent’s Signature _______________________________________ Date ______________

Agent’s Signature _______________________________________ Date ______________