If Seller gives the standard 45-day notice to vacate to a month-to-month tenant and Seller is able to deliver possession of the property to Buyer by the original scheduled closing date in the contract but Buyer is unable to close by that date for any reason through no fault of the Seller, then Buyer shall compensate Seller through escrow $___________ per day from the 46th day until the transaction is closed.
RIGHT OF FIRST REFUSAL. (Sample for your information)
If, during the term of the lease, or any extension thereof,
Lessor shall receive an offer to purchase this property or if Lessor shall wish
to enter into an agreement for the sale of this property, Lessor shall first
give Lessee written notice setting forth the name of the proposed purchaser,
the purchase price, and all the terms and conditions of the proposed sale.
Within ___ (___) calendar days following the delivery or mailing of said notice
pursuant to the terms of this lease, Tenant shall have the right to purchase
the property upon the same terms and conditions. Said right shall be exercised
by delivering or mailing such election to Owner prior to the expiration of said
calendar days. If Tenant shall not elect to make such purchase within said
time, and the sale is made in accordance with the terms set forth in the
notice, Tenant shall not have a right to purchase upon any resale.
ALLOCATION OF PURCHASE PRICE
The
above stated purchase price is allocated as follows:
Real Property
$____________________
Personal Property $ ___________________
The parties
agree that this agreement is indivisible even though separate considerations
have been stated for the real property and personal property.
RENT CONTROL
The Buyer is hereby informed by CENTURY21 Alpha the herein property may be subject to Rent Control and/or other City or Country restrictions. Said may including but are not limited to, a limit on the amount of rent that can be charged, a limit on the number of occupants and may effect your right to terminate a tenancy. CENTURY 21 Alpha is not qualified to determine the effect of Rent Control and/or governmental restrictions on the desirability or financial benefits derived from ownership hereof. Buyer is further informed by CENTURY 21 Alpha not to remove any property condition contingencies until Buyer is completely satisfied with and understand the consequences of the above stated issues.
INSPECTION OF ALL UNITS IN BUILDING
This offer is subject to Buyer’s inspection and approval of all (units/apartments/rooms) situated in the herein described property. If notice of disapproval has not been delivered to seller within five (5) days from said inspection, this condition shall be deemed waived.
SELLER’S WARRANTY OF INCOME AND EXPENSES
The seller represents that the operating statement for the 12-month period (or 24-month period) ending __________, 20_____ showing gross rentals received of $ ___________________ and total operating expenses of $ ______________________ is true and correct and agrees that said statement as attached hereto is a part of this agreement, and understands that the Buyer in purchasing the property is relying on said statement.
In Law Unit
The buyer acknowledges that the property contains an "in law" unit, which may or may not have been rented in the past. Such use may not be permissible under local ordinances. Buyers are advised to have the property inspected by a licensed professional and to contact the local planning department to verify whether the unit can be legally used.
INSPECTION OF ALL UNITS IN BUILDING
This offer is subject to Buyer’s inspection and approval of all (units/apartments/rooms) situated in the herein described property. If notice of disapproval has not been delivered to seller within five (5) days from said inspection, this condition shall be deemed waived.
SELLER’S WARRANTY OF INCOME AND EXPENSES
The seller represents that the operating statement for the 12-month period (or 24-month period) ending __________, 20_____ showing gross rentals received of $ ___________________ and total operating expenses of $ ______________________ is true and correct and agrees that said statement as attached hereto is a part of this agreement, and understands that the Buyer in purchasing the property is relying on said statement.
KEYS
It is
understood and agreed between the parties hereto, that the seller will deliver
to Buyer at the time of closing all keys
to the premises.
EXAMINATION
OF SELLER’S BOOKS
Buyer
acknowledges that he/she/they has (have)
examined Seller’s books and records, and
that Buyer is relying on such examination and not relied upon any representations
made by Seller, Seller’s agent or
CENTURY 21 Alpha concerning the income or expenses of said property.
Seller
warrants and represents that the books and records examined by Buyer are those
kept and maintained by Seller in the ordinary and normal course of business and
used in the computation of Seller’s federal income tax returns.
The buyer acknowledges that the property contains an "in law" unit, which may or may not have been rented in the past. Such use may not be permissible under local ordinances. Buyers are advised to have the property inspected by a licensed professional and to contact the local planning department to verify whether the unit can be legally used.
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