@GJS , as per your post:
- “I made an offer on a park. The seller’s lawyer added this to the contract…
Maintenance and Repairs: During the term of this agreement Buyer shall be solely responsible for the maintenance and repair of the premises and agree to maintain the premises…”
I am a Licensed South Carolina Real Estate Broker-In-Charge.
In South Carolina an “Offer” is written on an “Agreement To Buy And Sell Real Estate”.
When both the Seller and the Buyer sign the “Terms” of the “Agreement To Buy And Sell Real Estate”, then the Offer is “Ratified”.
There are lots and lots of “Agreements To Buy And Sell Real Estate” that have been “Ratified”, but never go to Closing (never Sell).
Personally, I would not sign an Offer saying that I am responsible for Maintenance and Repairs of any Real Estate that I just have a Offer on. The Property is still owned by the Seller and the Seller should be responsible for all Maintenance and Repairs until the Closing is completed.
Personally, I also would not sign an Offer saying that the Seller could keep any repairs or improvements made by the Buyer.
An Offer (“Ratified Contract”) just allows a “Potential Buyer” to verify that they desire to go forward with purchasing the Real Estate at the agreed upon Terms.
A “Potential Buyer” should not be responsible for real estate that they do not even own.
On a side note…For my “Potential Buyers” I put lots of “Outs” for them in the “Agreement To Buy And Sell Real Estate”.
The “Agreement To Buy And Sell Real Estate” should be “Contingent” on (These Should Be Written Into The “Agreement”):
- “Contingent” On Buyer Receiving Real Estate Loan
- “Contingent” On Buyer’s Due Diligence
- “Contingent” On Buyer’s Full Satisfaction Of Due Diligence
- “Contingent” On MHP Being Zoned MHP
- “Contingent” On MHP Being Zoned “X” Number Of Lots
- “Contingent” On MHP Being Connected To “X” Water Supply
- “Contingent” On MHP Being Connected To “X” Sewer System
- “Contingent” On MHP Being “X” Acres
We wish you the very best!