This sample form, an Additional Purchaser Representations and Warranties document, is usable for corporate/business matters. The language is easily adaptable to fit your circumstances. You must confirm compliance with applicable law in your state. Available in Word format.
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Interesting Questions
It’s always a good idea to have a lawyer take a look. They can help navigate the often bumpy roads of real estate transactions and make sure you're covered!
If a buyer goes back on their word, the seller might have legal grounds to seek compensation or even cancel the sale, depending on how the agreement is written.
Absolutely! It’s all about give-and-take. Buyers and sellers can discuss and tailor these representations to fit their specific needs.
They help sellers by reducing liability after the sale, meaning once the deal is done, they’ve tied up loose ends about any misrepresentations made by the buyer.
Buyers might need to state that they have no intentions to use the property for illegal activities, or that they're aware of any zoning laws that could affect their plans.
They serve as a safety net for buyers, assuring them that they're making a sound investment and minimizing surprises down the road.