A buyer's agent in Bakersfield prepares a C.A.R. RPA offer. The buyer wants to propose that the seller pay for a one-year home warranty. Where in the C.A.R. RPA process should this request be documented?
Correct Answer
B) In the Other Terms and Conditions section of the C.A.R. RPA or an addendum
The C.A.R. RPA includes provisions and an Other Terms and Conditions section where buyers can specify requests such as seller-paid home warranty. This ensures the request is part of the offer and subject to negotiation before acceptance.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The Statute of Frauds is a legal requirement that certain types of contracts must be in writing and signed to be enforceable. In real estate, all contracts for the sale of land or interests in land must be in writing.
A time is of the essence clause in a contract means that all deadlines and dates specified in the agreement are strictly enforceable, and failure to meet them constitutes a material breach.
An appraisal contingency allows the buyer to cancel or renegotiate the contract if the property's appraised value comes in lower than the agreed-upon purchase price. This contingency protects buyers from overpaying.
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