Soil and Groundwater Tests·Seller’s Warranty·No Toxic Contam
Soil and Groundwater Tests: Whose Responsibility it is?
While buying a real estate property, buyers take a lot of factors into consideration and condition of soil and groundwater is one of them. People would obviously buy a piece of land that is perfect in terms of both soil and groundwater. In other words, they will never be interested in buying a land whose soil or groundwater or both are contaminated by either toxic or non-toxic constituents. This is why buyers often prefer to carry out a soil and groundwater test on the property they are considering to buy.
Buyers can definitely carry out soil test or groundwater test or both on the property they are interested in but before that they will have to sign a Soil and Groundwater Tests·Seller’s Warranty·No Toxic Contam agreement. Without signing this agreement, seller would not allow the purchaser to carry out any kind of test on his property.
This contract specifies the number of days the purchaser will have in order to finish off with his soil and groundwater tests. It is clearly stated in the contract that if any kind of damage is done to the property during the test then it will be the responsibility of the purchaser and he will have to indemnify for it. Also, through this contract, seller warrants the purchaser that the soil and groundwater on his property is free from any kind of toxic waste contamination. If during the test, groundwater or soil is found to be contaminated then buyer has the right to terminate the contract.
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- ACKNOWLEDGMENT DOWN PAYMENT ON PURCHASE
- Bond for deed (bond for title)
- Contract as to possession – Closing delayed.
- Deferred Exchange as Purchase Agreement Amendment
- Farm Sale Amendment – Includes Animals & Equipment
- Heating Plant Cost
- Methods of Showing Title
- Notice of Lien and Sale
- Provision As to Life Insurance on Purchaser to Protect S (1)
- Sellerís Right to Reserve Crop