In addition to the Mold Information Brochure, the following inspection language can be used in purchase or lease agreements to help insure that buyers or lessees are aware of mold issues and their rights to make inspections in connection therewith. ( The terms lessor and lessee may be substituted for the terms seller and buyer. )
[ The sample language provided below is meant to serve as a guide for REALTORS®. Legal Counsel should be consulted in the preparation of all real estate transaction documents. Use of this sample language does not eliminate the potential exposure of a REALTOR® in connection with mold disclosure. ]
"PROPERTY INSPECTIONS. SELLER SHALL PROVIDE IMMEDIATE ACCESS AND CONNECT ALL UTILITIES FOR BUYER’S INSPECTIONS. BUYER'S FAILURE TO MAKE INSPECTIONS AND TO GIVE WRITTEN NOTICE TO SELLER WITHIN THE TIME STATE IN THIS AGREEMENT SHALL BE DEEMED AS ACCEPTANCE BY THE BUYER OF THE PROPERTY'S PRESENT CONDITION.
Buyer may within ten
(10) calendar days, commencing the day after acceptance of this agreement:
(1)
have
any inspections or testing, including but not limited to lead-based paint and
lead-based paint hazards, molds and fungi hazards, and analysis of synthetic
stucco or similar building materials, as deemed necessary by Buyer, made by
experts or others at Buyer's expense; and
(2) indicate in writing the physical deficiencies which are not acceptable to Buyer and provide Seller with a copy of such inspection reports. Buyer and Seller will have five (5) business days after Seller's receipt of Buyer's list of unacceptable deficiencies to agree upon the payment for repairs or this agreement is null and void. In which event all parties agree to cancellation of the agreement and return of the deposit."