“If you are asking about the Purchase and Sale Agreement, I find the most difficult section to explain is paragraph 15, the maintenance, inspection and repair section. Buyers like to have everything crystal clear or black and white, and it is here where things sometimes get a little fuzzy or we find some shades of gray. Buyers need to understand what responsibilities the seller has per the contract, what items must be conveyed in working condition, what must be corrected verses what would be considered cosmetic, etc. Buyers also need to understand that, if the cost to repair exceeds the amount the seller has initially agreed to pay, that the deal then needs to go back to the bargaining table. Beyond the negotiation of the purchase price this whole area of maintenance always seems to be the most difficult to get through, often all the way to the closing table.”
