Home Buying in Scripps Ranch>Question Details

Vivek, Home Buyer in San Diego, CA

Waiver of Buyer's rights concerning condition of property after closing

Asked by Vivek, San Diego, CA Tue Jun 24, 2008

I am in process of buying a property here in San Diego, CA which is being sold by a corporate relocation firm on behalf of sellers. In other words, instead of actual sellers selling me the property, it is the relocation firm acting as sellers now on purchase agreement. This firm, now the seller, is asking me to sign their standard addendum which has this clause "The closing of this sale & acceptance of a deed by Buyers shall constitute acknowledgment that the condition of the premises & systems contained therein are acceptable & the seller shall have no further responsibility or obligation concerning the property, and Buyers waive all rights they may have concerning the condition of the property"
Now, i don't see such a clause in the standard CA Real Estate Purchase Agreement and am wondering if it's okay for me to sign such a waiver. Do you if signing their addendum with this clause would put me (the buyer) at risk? What are my options?

Thanks!

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Answers

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Hi Vivek,
When purchasing a property from a relo company this is a very standard request. Normally the relo company will give you a copy of all the disclosures that their seller/employee gave to them. Most times the relo company will also give you a home inspection report. In other words they try to tell you everything that is wrong with the property upfont and then ask you to hold them harmless if you purchase the property. In my opinion, complete all your inspections as normal, request any repairs needed and move forward. Good luck, Walter
Web Reference: http://ocnorth.com
1 vote Thank Flag Link Tue Jun 24, 2008
Walter knows what he is talking about here. The reality is that if you don't sign it you probably will not be able to close. Your state contracts may go over this type of thing but maybe not in so many words. It's not uncommon for you to sign off on the condition of the home at closing.

Consult an attorney on your rights as a buyer in this regard.
0 votes Thank Flag Link Tue Jul 24, 2012
Vivek,
Great answers so far. If you need the name of a good home inspector and contractor, since I think you should probably know not just the repairs that are needed, but the cost too, let me know. If major or lots of repairs are needed, you may be able to get the relo-seller to lower the price.
0 votes Thank Flag Link Tue Jun 24, 2008
Very well put Walter!

We see the same documents here in No. Calif. The relo company has no direct connection to the property and is only acting on behalf of the seller and their employer. They just don't want you to sue them for defects in the property.

Be sure and do as many inspections as you can so you know the condition of the property!

Best of luck!
0 votes Thank Flag Link Tue Jun 24, 2008
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