Adding Language to the Purchase and Sale Agreement

Real estate agents are not allowed to make any revisions to the standardized State Forms provided by the State of Washington.  However, changes to the Forms are occasionally made to accommodate the wishes of the Buyer and Seller.  Only Agents who have the level of skill and expertise should be drafting any language that will be included in the Purchase and Sale Agreement or, crossing off language currently on the standard Forms

When drafting language to be included in the Purchase and Sale Agreement you should answer the following questions with as much detail as possible;

A.)Who is contractually obligated to perform what task?

Seller shall engage ABC Electric, LLC,  123 Main Street, Issaquah, WA to complete the recommendations by XYZ Electric Co. in their report dated November 11th, 2018. 

B.)What specifically are they required to do?

The required tasks to be complete are;

a.)

b.)

c.)

d.)

C.)When are they required to complete the task?

These required tasks are to be completed within five (5) days prior to Closing.

D.)Why are they required to perform the task?

E.)How much money will it cost, if applicable?

Seller will pay for all costs, with a copy of satisfied invoice delivered to Buyer within five (5) days prior to Closing.

F.)What will happen if the task is not completed?

Seller shall allow XYZ Electric Co. to re-inspect premises to confirm all tasks are successfully completed within five (5) days prior to Closing.  If XYZ Electric Co. disapproves of any of the work performed, the Buyer has the option of; terminating the PSA and receiving their Earnest Money back or, agreeing to an extension of the Closing Date no longer than five (5) days beyond the current Closing Date, to allow the work to be performed and re-inspected by XYZ Electric Co.  If XYZ Electric Co. is required to perform any additional inspections following the initial re-inspection, the Seller agrees to pay any and all additional costs out of their net sale proceeds at Closing.

It is strongly advised you have a competent attorney draft the language to be added to the Purchase and Sale Agreement.  If an Agent drafts the language they should have the skill and expertise to do so.  You’re advised to have an equally skilled and experienced Agent review the document and answer this question, How would a Judge interpret the deletions/additions to the Purchase and Sale Agreement?

Agent

Steven Meyers, Owner/Managing Broker

Steven Meyers, Owner/Managing Broker

Phone(206) 972-3328