How much time do I have after receiving CCRs before removing contingencies?

Asked by Donna, Westlake Village, CA Wed Feb 3, 2010

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Steven Ornellas’ answer
Steven Ornel…, Agent, Fremont, CA
Wed Feb 3, 2010
Hi Donna, as I state in my answer to your first question here:
http://www.trulia.com/voices/Home_Buying/I_have_not_received…

Assuming you are using CAR's "California Residential Purchase Agreement" (revised 11/07):
Para 14B(1) states how long you have to remove your Investigative contingencies; however, Para 14B(3)iii provides for an extension if Common Interest (CI) disclosures have not been made in the timeline afforded by 14B(1), in which case you have 5 days AFTER you receive these disclosures to remove your Inspection contingencies.

Best, Steve
2 votes
, ,
Mon Nov 14, 2011
If you did not use the CAR form, California State law gives you 3 days. It is good to know the CAR Deposit reciept gives you 5 thank you Steve for the good information.
0 votes
Bonnie Sterl…, Agent, Simi Valley, CA
Wed Feb 3, 2010
Hi Donna, Having answered your previous questions, I am wondering what caused you to post two similiar but different quesitons. Did the CC&r's show up after you posted the other questions?
Web Reference:  http://www.ConejoLiving.com
0 votes
John Juarez, Agent, Fremont, CA
Wed Feb 3, 2010
Donna,

I agree with Barry. Consult your contract together with your agent.
0 votes
Barry Shapiro, Agent, Camarillo, CA
Wed Feb 3, 2010
Hi Donna,

Item 14 B (3) on page 4 of the RPA states that you have 5 days to review these disclosures (unless otherwise agreed to in writing). Please consult with a real estate attorney or the broker representing you.
0 votes
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