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.
Sample Template Preview
Soil and groundwater tests—Seller’s warranty—No toxic contamination.
Purchaser, at purchaser’s sole expense, shall have _________[number] days from the date of this contract within which to secure soil and groundwater tests of the property. Purchaser and any firm or person designated by purchaser shall have the right to enter on the property to secure samples of soil and groundwater and otherwise test the soil and groundwater within the stated period.
Buyer shall indemnify and hold seller harmless from all liability, claims, losses, damages, costs and expenses, including attorney fees, arising out of or resulting from the performance of any such inspection and testing.
Seller expressly warrants that the soil and groundwater of the property are free of toxic waste contamination as of the date of the passage of the legal title to the property from seller to purchaser.
In the event purchaser’s experts determine within the stated period that the soil and/or the groundwater of the property is or are not free of toxic waste contamination, and a written analytical report by the experts demonstrates conclusively that such is the case, purchaser may at purchaser’s option rescind and terminate this contract, provided written notice of termination and rescission is given to seller on or before _________[date].
- 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
- Offer to Purchase Real Estate
- PURCHASE BID OPEN STATED PERIOD
- Transfer to Occur after Closing