WM1344 Home Inspection Notice FINAL 12-13-11

HOME INSPECTION CONTINGENCY NOTICE AND/OR ADDENDUM Regarding the Contract dated _____________________ on Lot ___________, Block/Square _____________, Unit_______ in the subdivision/condominium project known as ____________________________________, located at ________________________________________________________________________________ between __________________________________________________________________________ (Buyer) and _____________________________________________________________________________ (Seller): In the event this Notice becomes an Addendum, the provisions of this Addendum shall supersede anything to the contrary contained elsewhere in the Contract.

The undersigned Buyer  A. Hereby agrees to remove the Inspection Contingency and provides a copy of the Inspection Report in exchange for:  The Seller’s agreement to take the following actions, prior to settlement, __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ _________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ _________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ __________________________________________________________________________________ All repairs/replacements shall be performed in a good and workmanlike manner. The Seller shall have the following enumerated items from the above list _____________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ replaced, repaired or otherwise rectified, as above provided, by a Maryland / District of Columbia / Virginia (as applicable) licensed contractor(s) and shall, prior to settlement, provide Buyer with a receipt from said contractor(s) specifying that the referenced item(s) has/have been completed. ©2012, The Greater Capital Area Association of REALTORS®, Inc. This Recommended Form is the property of The Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.

Previous editions of this Form should be destroyed.

GCAAR Form #1344 – Home Inspection Notice/MC & DC 1 of 2 01/2012



The Seller’s agreement to credit Buyer the amount of $______________ towards Buyer’s closing costs in lieu of Seller taking the following enumerated actions on the above list: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________

It is the Buyer’s responsibility to confirm with his lender, if applicable, that the entire credit provided for herein may be utilized. If lender prohibits the Seller from payment of any portion of this credit, then said credit shall be reduced to the amount allowed by lender. This credit shall be in addition to any other amount(s) the Seller has agreed to pay under other provisions of this Contract.

OR



B. Declares this Contract Null and Void (only if permitted by the Home Inspection Contingency).

The Home Inspection Contingency provides that failure of either party to respond within 3 days after Delivery of Notice requiring repairs and/or a credit towards closing costs will result in acceptance by both parties of the terms of the most recent Notice.

__________________________________________ Seller Date

__________________________________________ Buyer Date

__________________________________________ Seller Date

__________________________________________ Buyer Date

©2012, The Greater Capital Area Association of REALTORS®, Inc. This Recommended Form is the property of The Greater Capital Area Association of REALTORS®, Inc. and is for use by members only.

Previous editions of this Form should be destroyed.

GCAAR Form #1344 – Home Inspection Notice/MC & DC 2 of 2 01/2012