Notice Of Unsatisfactory Conditions Upon Inspection
Get your notice of unsatisfactory physical conditions after inspection prepared by hiring an experienced attorney
Are you planning to buy your desired property? Then, you need to hire an attorney to check all the legal documents pertained to the land prior to signing the agreement with the other party. However, if you are not satisfied with the property after inspecting it, then you need to prepare a Notice of Unsatisfactory Conditions upon Inspection agreement. However, this agreement is connected with various legal consequences, so before signing this agreement, you need to consult both the attorney and the tax consultant. Basically, this agreement has to include the date of inspection, the contract made between the buyer and seller about the sale of the property along with the terms and conditions.
Generally, this agreement also includes the points of why the buyer has terminated the contract with the seller. Usually, the buyer will terminate this contract, when he/she is not satisfied with the physical condition of the property. Moreover, the buyer can notify the seller about the property condition and ask him/her to clean and repair the ramshackle condition of the property. Furthermore, you can also include the point, if you are looking for more space than what was being provided by the seller. Most importantly, you need to attach the inspection report along with this Notice of Unsatisfactory Conditions upon Inspection agreement. Generally, the buyer and seller have to resolve the dispute on or before the given deadline otherwise the contract gets terminated. This agreement has to be signed by both the parties along with their states. Most importantly, the seller should tell whether or not they agree or refuse to correct all the unsatisfactory physical condition of their place. There is a clause that the buyer can also withdraw this legal notice to correct the physical conditions of the place by themselves and continue the contract with the seller.
Where to download Notice Of Unsatisfactory Conditions Upon Inspection Template?
Sample Template Preview
Notice of unsatisfactory conditions upon inspection.
THIS FORM HAS IMPORTANT LEGAL CONSEQUENCES AND THE PARTIES SHOULD CONSULT LEGAL AND TAX OR OTHER COUNSEL BEFORE SIGNING.
RE: Contract dated _________ between _________, (Buyer), and _________, (Seller) relating to the sale and purchase of the Property known as: _________; terms used herein shall have the same meaning as in the contract.
A. BUYER’S NOTIFICATION OF UNSATISFACTORY PHYSICAL CONDITION.
(Buyer to check only one box)
o 1. Notice to Terminate. Pursuant to §10a(1) of the contract, Buyer notifies Seller that the Contract is terminated because the physical condition of the Property or Inclusions is unsatisfactory to Buyer.
o 2. Notice to Correct. Pursuant to §10a(2) of the contract, Buyer notifies Seller that Buyer requires Seller, on or before _________, to correct or resolve the following unsatisfactory physical condition(s) of the Property or Inclusions: _________.
If more space is required, attached is additional page(s).
A copy of the inspection report o Is o Is Not attached.
Pursuant to §10b of the contract, if Buyer and Seller have not agreed in writing to a settlement of the above matters on or before the Resolution Deadline, the contract will terminate unless Seller receives written notice from Buyer withdrawing this Notice to Correct no later than one calendar day following the Resolution Deadline.
Seller o Agrees o Refuses to correct all items in Part A-2.
B. SELLER’S ALTERNATIVE RESOLUTION:
(Note: If the parties have not agreed to a written resolution of the Notice to Correct, the contract will terminate unless Seller receives written notice from Buyer withdrawing the Notice to Correct no later than one calendar day following the Resolution Deadline.)
Buyer accepts the proposed Alternative Resolution in Part B of this Notice.
C. SURVIVAL If any agreed upon correction requires action after Closing, the obligations agreed upon shall survive Closing.
D. BUYER’S WITHDRAWAL OF NOTICE TO CORRECT.
Buyer withdraws the Notice to Correct and elects to proceed with the contract.
- Agreement for sale of interest of purchaser
- Cash payment plus assumption of existing mortgage
- Contract Giving Grantor in Deed to Avoid Foreclosure the right to repurchase
- Erection of Building-Sales and Exchanges
- Forfeiture of Improvements
- Insurable Title
- Nevada – Seller’s Real Property Disclosure Form
- OPTION FOR BUYER TO OBTAIN LOAN
- PURCHASE BID PERSONAL PROPERTY
- Transfer to Occur after Closing