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
If you discover issues after closing, it's best to first document everything and then consult with a real estate attorney. They can help you understand your options and the best course of action to take.
Yes, common representations and warranties buyers look for include claims about the property’s title, its physical condition, whether it complies with local laws, and if there are any hidden defects or disputes related to the property.
If the seller breaches their representations and warranties, you may have legal grounds to pursue remedies. This could include asking for repairs, seeking financial compensation, or even canceling the deal, depending on what was agreed upon.
Absolutely! Many aspects of a real estate deal, including representations and warranties, can be negotiated. If there are specific concerns or needs you have, don’t hesitate to bring them up.
To check if the representations and warranties are valid, you should do thorough due diligence. This includes property inspections and researching public records, so you can verify what the seller claims.
Additional representations and warranties give buyers extra protection. They help clarify any uncertainties about the property and can provide peace of mind, making sure the buyer knows exactly what they’re getting into.
In real estate agreements, representations and warranties are promises made by the seller about the property. They assure the buyer that certain facts about the property are true, like its condition, legal status, and any issues that could come up.