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

Vivek
Home Buyer
San Diego, CA

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!

Answers (3)
Fred Eckert- Ch...
Real Estate Pro
San Diego County, CA

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.

Tue Jun 24 2008, 21:15
Ron Minearo
Agent
Los Gatos, CA

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!

Tue Jun 24 2008, 21:02
Walter Kersten...
Agent
Yorba Linda, CA
FIRST ANSWER

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
Tue Jun 24 2008, 18:27

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