(Broker Name)
“AS IS” ADDENDUM NUMBER ____
This is an Addendum to the Real Estate Purchase Agreement (the “Purchase Contract”) dated __________, 201_ for the property commonly known as ___________________________ between ______________________, Buyer, and _____________________________, Seller.
1. Buyer is buying property in its present “as is” condition. This Addendum supersedes any Condition of Property language in the Purchase Contract, except: (A) those related to destruction of the improvements; (B) risk of loss; (C) Seller’s obligation to maintain the Property in the same condition as at the time of acceptance; (D) seller’s obligation to remove debris and personal property; and (E) if agreed to in the Purchase Contract, Seller’s written obligation to pay for or correct specific defects, damage or pest control related work. Apart from the above, Buyer understands that regardless of what Seller or anyone else discloses, or what is or could be discovered by the Buyer or Buyer’s professionals, neither Seller nor agents will repair any malfunctions, defects or deficiencies, nor repair or make operable any appliance, component or system. Buyer has not relied, and will not rely, on any representations or warranties from Seller or Agents with respect to the condition of the property except as may be contained in written disclosures from Seller or Agents. Seller will conduct no inspections or investigations, and makes no representations or warrantees of soils, drainage or flooding for the Property; nor of public records regarding zoning, permit history, code compliance, building inspection reports, health and safety records, potential or planned construction in the area, and the potential for remodel, expansion of, or additions to, the Property (hereafter collectively “Public Records”). However, unless otherwise agreed in writing, Seller is not relieved from compliance with any statutory obligations related to the sale of the property such as water heater bracing, smoke detectors, energy retrofit, etc.
2. In executing this contract, Buyer acknowledges that: (A) if this is not a new property, the components, appliances, fixtures, systems and materials may have varying remaining useful lives; (B) not all components, improvements or fixtures of the property may comply with current code, zoning, health and safety, or setback requirements; (C) square footages and acreage, if given, are approximate only, have not been checked by Seller or agents, and that, if Buyer is relying on square footage, lot size or acreage in making this purchase, Buyer will independently verify those numbers; (D) lot lines cannot be determined by existing fences or retaining walls, and only a survey can accurately determine lot lines; (E) whether neighborhood noise, odor or other conditions are material can be subjective and should be investigated by Buyer; and (F) view corridors can be obstructed by surrounding construction activity.
3. If any of the above items, or any other factors that may affect the value or desirability of the Property, are important to Buyer, Buyer is strongly advised to conduct Buyer’s own inspection of the property, the surrounding area, and Public Records utilizing appropriate professionals. No independent investigation of the above items will be conducted by Seller. If provided for in the Purchase Contract, Buyer may have all inspections that Buyer desires with respect to this property; and this Addendum does not change any inspection contingency rights as Buyer may have in the Purchase Contract.
4. In removing the inspection contingencies for, or if Buyer does not have a particular inspection on, or verification of:
A. The property, or any portion of it, including but not limited to inspections of the foundation, roof, plumbing, heating, major components, appliances, fixtures, lot lines, or reports from mold, geologic, geotechnical, seismic, environmental hazards or structural professionals; or
B. The surrounding area including noise, nuisances, traffic, odors or current or planned construction; or
C. Public Records, including permits, zoning, code compliance, violations, abatements, or fitness for current or planned use of the property;
it will be conclusively presumed that Buyer: 1.) Has satisfied himself/herself totally with respect to: a) the physical condition, quality, quantity and state of repair of the items which are, or would be, the subject of that contingency; b) the surrounding area; and c) Public Records; 2.) Has waived any further inspections; and, 3.) Waives any claims, and releases Seller for any future liability, with respect to items that would have been disclosed by such an inspection or verification.
5. Nothing herein is intended to waive any provision of federal, state or local law which may require Seller or agents to provide required written disclosures. Buyer is aware of Civil Code Section 2079.5 which states as follows: “Nothing in this article relieves a buyer or prospective buyer of the duty to exercise reasonable care to protect him or herself, including those facts which are known to or within the diligent attention and observation of the buyer or prospective buyer.”
6. Buyer has been advised of Buyer’s right to have this Addendum reviewed by Buyer’s attorney prior to signing.
7. In any conflict between this Addendum and any other provision of the Purchase Agreement, counter-offers or addenda, this As Is Addendum shall govern.
The undersigned has read, approved and received a copy of this Addendum.
Date_________________, 201_ Date______________________, 201_
Buyer_____________________ Seller__________________________
Buyer_____________________ Seller__________________________