Percolation Test Clauses: Contract for Real Property are clauses included in real estate contracts that require the land to pass a percolation test prior to closing. The purpose of these clauses is to ensure that the property has an adequate drainage and septic system. The percolation test, also known as the per test, is a professional engineering test that measures water percolation rate through the soil, which is needed to determine the suitability of a drain or septic system. There are two main types of Percolation Test Clauses: Contract for Real Property: 1. Seller-Provided Percolation Test Clause: This clause requires the seller to obtain a percolation test prior to closing and provide the results to the buyer. The clause also typically includes language regarding who pays for the test and the timeframe for the test to be completed. 2. Buyer-Requested Percolation Test Clause: This clause requires the buyer to request a percolation test prior to closing and pay for the test. The clause also typically includes language regarding when the test must be completed and the results must be provided to the seller.
Percolation Test Clauses: Contract for Real Property
Description
How to fill out Percolation Test Clauses: Contract For Real Property?
How much time and resources do you often spend on composing formal paperwork? There’s a better opportunity to get such forms than hiring legal experts or spending hours searching the web for a proper blank. US Legal Forms is the premier online library that offers professionally drafted and verified state-specific legal documents for any purpose, like the Percolation Test Clauses: Contract for Real Property.
To get and complete an appropriate Percolation Test Clauses: Contract for Real Property blank, follow these easy steps:
- Examine the form content to ensure it complies with your state laws. To do so, read the form description or use the Preview option.
- In case your legal template doesn’t meet your needs, find another one using the search bar at the top of the page.
- If you are already registered with our service, log in and download the Percolation Test Clauses: Contract for Real Property. Otherwise, proceed to the next steps.
- Click Buy now once you find the right blank. Choose the subscription plan that suits you best to access our library’s full opportunities.
- Register for an account and pay for your subscription. You can make a payment with your credit card or through PayPal - our service is totally safe for that.
- Download your Percolation Test Clauses: Contract for Real Property on your device and fill it out on a printed-out hard copy or electronically.
Another advantage of our service is that you can access previously acquired documents that you safely store in your profile in the My Forms tab. Get them anytime and re-complete your paperwork as often as you need.
Save time and effort completing legal paperwork with US Legal Forms, one of the most trusted web services. Sign up for us today!
Form popularity
FAQ
Contingency contracts target undesirable behaviors and conditions while helping a person achieve better outcomes. For instance, a parent can enter a contingency contract with a child that does not finish his or her homework on time. The child can agree to finish his or her homework before supper.
A contingency clause is a contract provision that requires a specific event or action to take place in order for the contract to be considered valid. If the party that's required to satisfy the contingency clause is unable to do so, the other party is released from its obligations.
Options that could make an offer more attractive include offering more than the asking price, offering a larger Earnest Money Deposit than requested, letting the sellers choose the closing date, picking up the sellers closing costs and limiting the time period for your house to sell.
A contingency clause should clearly outline what the condition is, how the condition is to be fulfilled, and which party is responsible for fulfilling it. The clause should also provide a timeframe and what happens if the condition is not met.
Contingencies can include details such as the time frame (for example, ?the buyer has 14 days to inspect the property?) and specific terms (such as, ?the buyer has 21 days to secure a 30-year conventional loan for 80% of the purchase price at an interest rate no higher than 4.5%?).
CONTINGENCY: This offer is accepted contingent upon BUYER selling their real property located at (Address) (City) , with in days (contingency period) from acceptance of this offer, or any written extensions thereof signed by BUYER and SELLER.
The test to determine the capability of the soil to absorb liquid, both for construction and septic systems.
In real estate contracts, there are contract clauses that outline the terms of the agreement and responsibilities of each party. The contract clauses address all aspects of the sale terms and are legally binding once both parties sign the document.
