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?
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