Originally Posted By: jhagarty
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BUYER WAIVES THIS OPTION and agrees to the RELEASE in paragraph 27 of this Agreement.
ELECTED. Contingency Period: days (15 if not specified) from the Execution Date of this Agreement.
(A) Within the Contingency Period, Buyer, at Buyer?s expense, may obtain a written ?Wood-Destroying Insect Infestation Inspection Report? from an inspector certified as a wood-destroying pests pesticide applicator
and will deliver it and all supporting documents and drawings provided by the inspector to Seller. The report is to be made satisfactory to and in compliance with applicable laws, mortgage lender requirements, and/or Federal Insuring and Guaranteeing Agency requirements, if any. The inspection is to be limited to all readily visible and accessible areas
of all structures on the Property except fences and the following structures, which will not be inspected:
(B) If the inspection reveals active infestation(s), Buyer, at Buyer?s expense, may within the Contingency Period, obtain a Proposal from a wood destroying pests pesticide applicator to treat the Property.
(C) If the inspection reveals damage from active or previous infestation(s), Buyer, at Buyer?s expense, may within the Contingency Period, obtain a written report from a professional contractor, home inspector or structural engineer that is limited to structural damage to the Property caused by wood-destroying organisms and a Proposal to repair and/or treat the Property.
(D) If Buyer is not satisfied with the condition of the Property as stated in the written inspection report(s), Buyer will proceed under one of the following Options as listed in paragraph 10 within the Contingency Period:
The Insurance can be obtained by duly Licensed Pesticide Applicators acting in the capacity of Home Inspectors at a reasonable expense.
Contact me if you need additional information.