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NVAR Well and Septic Addendum 2012
 

NVAR Well and Septic Addendum 2012

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For more information visit: http://elitescoop.com/2011/10/new-regional-sales-contracts-for-2012-video-explanation-and-forms/

For more information visit: http://elitescoop.com/2011/10/new-regional-sales-contracts-for-2012-video-explanation-and-forms/

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    NVAR Well and Septic Addendum 2012 NVAR Well and Septic Addendum 2012 Document Transcript

    • SALE CONTRACT PRIVATE WELL AND/OR SEPTIC SYSTEM ADDENDUMThis addendum is made on ,to a sales contract (“Contract”) dated , between (“Purchaser”)and (“Seller”) forthe purchase and sale of the property (“Property”):1. WELL A. Water Quality. If the Property is on a private well as indicated in the UTILITIES Paragraph of the Regional Sales Contract, then □ Seller at Seller’s expense OR □ Purchaser at Purchaser’s expense, shall Deliver to the other party, on or before Settlement, an inspection report prepared by a Virginia certified laboratory dated not more than 180 Days prior to Settlement, ordered through the local health department OR an insured private company, indicating that the well water is free from contamination by coliform bacteria. Any such contamination indicated shall be remediated by Seller at Seller’s expense and the well shall be re-inspected at Seller’s expense. Seller shall Deliver to Purchaser on or before Settlement a report issued by a Virginia certified laboratory indicating that the well water is free from contamination by coliform bacteria. B. Well Inspection Contingency. This Contract □ is OR □ is not contingent (“Well Inspection Contingency”) until 9 p.m. ____Days after the Date of Ratification (“Well Inspection Deadline”) upon inspection of the well by a professional, insured inspector(s) at Purchaser’s discretion and expense. The Well Inspection Contingency will terminate at the Well Inspection Deadline unless by the Well Inspection Deadline Purchaser has Delivered to Seller a copy of the entire inspection report(s) and a written Addendum of requested repair or replacement items or treatment(s). Seller may, at Seller’s option, within ____ Days after Delivery of the Addendum, elect in writing to remedy the deficiencies prior to Settlement. If Seller does not elect to make the repairs, replacements, or treatment(s) or makes a counter offer, or does not respond, Purchaser will have ____ Days to respond or remove this Contingency and take the well in its present physical condition or this Contract will become void. Any counter-offer of Purchaser, and any subsequent counter-offer by either party, shall be responded to by the other party within ____ Days of Delivery of such counter offer. The failure of one party to respond to such counter-offer or to remove this Contingency within the required response period shall result in the Contract becoming void at the expiration of that response period.2. SEPTIC A. Septic Inspection. If the Property is on private Septic or private Alternative Sewage Disposal System (“Alternative System”) as indicated in the UTILITIES Paragraph of the Regional Sales Contract, then □ Seller at Seller’s expense and sole risk of damage to the Property OR □ Purchaser at Purchaser’s expense and sole risk of damage to the PropertyNVAR – K1360 – rev. 09/11 Page 1 of 2 Initials: Seller : / Purchaser: /
    • shall furnish to the other party within ____ Days after the Date of Ratification (minimum of 15 days recommended) an inspection report (“Septic Inspection Report”) dated not more than 180 Days prior to Settlement from the local health department or a licensed, insured septic system installer, contractor, or repair firm indicating whether there is any evidence of malfunction of the private Septic or private Alternative System. Inspection of the private Septic or private Alternative System shall include only (check all that apply): □ Walk-over visual inspection of the drain field with probing □ Pumping and inspection of all tanks □ Excavation and visual inspection of all distribution boxes or systems □ Visual inspection of the alternative treatment unit(s), if present B. Alternative System Maintenance Contract. An Alternative System may require regular maintenance in order to prevent failure. Seller □ does OR □ does not have a maintenance contract. If Seller does have a maintenance contract, Seller will provide a copy to Purchaser within 15 Days after the Date of Ratification, and that maintenance contract □ shall OR □ shall not convey to Purchaser. C. Septic Repairs. If the Septic Inspection Report indicates any evidence of malfunction, then Purchaser may, within ____ Days of Delivery of Septic Inspection Report to all parties, Deliver to Seller a written Addendum of requested repair or replacement items. Seller may, at Sellers option, within ____ Days after Delivery of the Addendum, elect in writing to remedy the deficiencies prior to Settlement. If Seller does not elect to make the repairs or replacements, or makes a counter offer, or does not respond, Purchaser will have ____ Days to respond or take the septic system in its present physical condition or this Contract will become void. Any counter-offer of Purchaser, and any subsequent counter-offer by either party, shall be responded to by the other party within ____ Days of Delivery of such counter-offer. The failure of one party to respond to such counter-offer within the required response period shall result in the Contract becoming void at the expiration of that response period, unless Purchaser Delivers written Notice to Seller accepting the septic system in its present physical condition.SELLER: PURCHASER: / /Date Signature Date Signature / /Date Signature Date Signature ©2011. This is a suggested form owned by certain REALTOR® Associations ("Associations"). This form has been created and printed exclusively for the use of REALTORS® and members of the Associations, who may copy or otherwise reproduce this form in identical form with the addition of their company logo and with any other changes being set forth in a clearly marked separate addendum. Any other use of this form is prohibited without prior written authorized consent of the Associations.NVAR – K1360 – rev. 09/11 Page 2 of 2 Initials: Seller : / Purchaser: /