Page 16 - Purchase Contract Guide Book Title Alliance Professionals

Due Diligence

Lines 290-297: Disclose whether there will be a home warranty on premises. Either first box next to
Line 293 or 296 should be marked

Line 297: Buyers initials required

Lines 298-301: Seller grants buyer/buyer inspectors access to premises to access any repairs or correc-
tions agreed between buyer and seller and/or to ensure the premises are in the same condition as of the
signing of the contract. Buyer releases seller and broker from any liability should buyer elect not to
conduct such walkthrough(s).

Lines 302-304: Seller shall continue to have all utilities on at sellers expense until close of escrow

Section 7 - Remedies

Lines 310-343: These lines include remedies to a ‘potential’ breach of the contract and an ‘actual’
breach of the contract. Understand that a breach or submission of a cure notice does not constitute a
cancellation of the contract formal cancellation on written form. If escrow is to close in order to satisfy
a cure, the cure period can not end on a day the escrow/title company or recorders office is closed.
Close of escrow shall be on the next day both offices are open

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