7. Provision relating to lump sum damages: This section of the contract defines the damages that the seller can claim for infringement committed by the buyer and is generally limited to the amount of the discount, limited to 3% of the purchase price 6. Mediation provision: The standard purchase agreement includes both a mediation provision and an arbitration clause. This provides that any differences between the parties first attempt to be resolved through mediation and then, if approved by the seller and buyer, through arbitration. The California Residential Purchase Agreement (California Association of Realtors Form RPA-CA) is a sales contract standard form Significant changes have been made to the revised forms published on 11/14 and 12/15, with language changes in many paragraphs. 3. 17 Due Diligence Contingency Period: There is a standard contingency period of 17 days during which the buyer can read and approve the above information provided by the seller. and to complete any investigations or inspections of the property that the buyer wishes. During this contingency period, the buyer may require the seller not to repair certain repairs indicated in the inspection reports, but the seller is not required to do so. The buyer may cancel the purchase at any time during this possible period.

If the buyer has not eliminated all contingencies before the end of the eventual 17-day period, the eventual period will be effectively maintained until the seller sends the buyer a performance notice obliging the buyer to remove any eventuality within the period agreed in the contract (usually 24 to 72 hours). or the contract is terminated. Once the buyer has eliminated any eventuality, the failure of the buyer or seller to close the Treuhand in a timely manner may be an infringement. If the buyer breaches the contract, the seller may request the forfeiture of the buyer`s deposit as lump sum damages. RPA-CA has been designed to let buyers, sellers and agents know at all times where they are, as important decisions must be made in writing. The need for urgent written deletion avoids the surprises associated with accidental emergency removal and the implicit absence of deadlines. 4. Additional items included in the purchase: all goods that are not permanently linked to the property and that the buyer wishes to include in the purchase should be clearly indicated in the contract of sale. 2. Counter-offers: the seller can return the initial sales contract with the buyer`s offer, indicating that he accepts the conditions offered by the buyer, with the exception of certain items.

During the period following the submission of the counter-offer by the seller, the seller determines the period during which the buyer must accept the counter-offer. The buyer may, at his option, accept the counter-offer or submit another counter-offer to the seller. This process of counter-offer by the seller, followed by a counter-offer from the buyer, can take place as often as necessary, so that both parties can definitively agree on the terms of the final sales contract. 3. Brokers and commissions: The contract of sale also sets out to the real estate agents participating in the transaction who they represent and which commissions are earned. . . .

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