Common use of Property Boundaries Clause in Contracts

Property Boundaries. If the Buyer does wish to inspect the Property boundaries, the Buyer should initial “Elected.” If the Buyer does not wish to inspect the Property boundaries, the Buyer should initial “Waived.” Many Buyers rely on visual cues - such as fences, ▇▇▇▇▇▇ or walls - or representations in the MLS or by the Seller to determine the Property boundaries. Unless the boundaries of the property are laid out as a term of the Agreement of Sale, these estimations should not be considered to be accurate. While this may be an effective tool for approximation, it should not be taken as the true Property boundary. The Buyers are advised to hire a surveyor or title abstractor to assess the actual boundaries of, or amount of, the land included with the Property. If the Property involved was built prior to 1978, the Buyer has the option to conduct a risk assessment and/or inspection to determine the presence and risk of lead-based paint. If the Buyer does want this inspection, the Buyer should initial “Elected.” If the Buyer does not wish to have such an inspection, the Buyer should initial “Waived.” Where the Property was built before 1978, the Lead-Based Paint Hazard Reduction Act requires the Seller to provide the Buyer with the EPA-approved “Protect Your Family from Lead in Your Home” information pamphlet. Note: The LPD or other compliant form is required in every pre-1978 sale. Brokers on both sides of the transaction may be held to very strict enforcement if audited by the EPA. Be sure that all information, including all initials and signatures of the parties, has been completed. The Buyer acknowledges that she has received the LPD and EPA pamphlet on the signature page.

Property Boundaries. If the Buyer does wish to inspect the Property boundaries, the Buyer should initial “Elected.” If the Buyer does not wish to inspect the Property boundaries, the Buyer should initial “Waived.” Many Buyers rely on visual cues - such as fences, ▇▇▇▇▇▇ or walls - or representations in the MLS or by the Seller to determine the Property boundaries. Unless the boundaries of the property are laid out as a term of the Agreement of Sale, these estimations should not be considered to be accurate. While this may be an effective tool for approximation, it should not be taken as the true Property boundary. The Buyers are advised to hire a surveyor or title abstractor to assess the actual boundaries of, or amount of, the land included with the Property. If the Property involved was built prior to 1978, the Buyer has the option to conduct a risk assessment and/or inspection to determine the presence and risk of lead-based paint. If the Buyer does want this inspection, the Buyer should initial “Elected.” If the Buyer does not wish to have such an inspection, the Buyer should initial “Waived.” Where the Property was built before 1978, the Lead-Based Paint Hazard Reduction Act requires the Seller to provide the Buyer with the EPA-approved “Protect Your Family from Lead in Your Home” information pamphlet. Note: The LPD or other compliant form is required in every pre-1978 sale. Brokers on both sides of the transaction may be held to very strict enforcement if audited by the EPA. Be sure that all information, including all initials and signatures of the parties, has been completed. The Buyer acknowledges that she has received the LPD and EPA pamphlet on the signature page. This section allows the Buyer or the Seller to write in any other inspections, not named above, that the Buyer would like to perform or that the parties agree to explicitly waive.