POSSIBLE AMENDMENTS (SALE OF PROPERTY AS IS)
Clause 1: How will the money be paid? In lump sum or in installments? Let the buyer specify how this amount will be paid in the contract as well as the mode of payment (Bank transfer, cheque etc).
Clause 3: Let the buyer slightly amend this clause to read that the Seller will pay taxes and encumbrances up to the date of the closing. Any liability incurred afterwards will be the sole responsibility of the buyer.
Clause 9: Let the buyer specify in the contract the period in which they will require access to the property for evaluation purposes. Coming into the property without any notice and/or order may become a nuisance.
Clause 10: This clause is inflexible for the seller. Let the buyer re-draft it to allow the seller to collect any of the items that they may require, as long as they will have given prior notice before the closing date.
Clause 15: Let the buyer acknowledge that even when posting the property on websites for marketing to potential customers, they will respect boundaries and the Seller’s privacy. The seller may specify what she is not comfortable being shared.
Clause 16: Unless the Seller does not mind selling to absolutely anyone, then this clause should be redrafted to read that the buyer will seek consent from the buyer before changing buyer’s name to another in the contract.
Dated this 23rd Day of February 2021
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