In Escrow-Contingency question

[David P.]

Hello everyone,

Have a real estate contract question. Im currently in Escrow in Los Angeles and my contract has the standard 17 day inspection/apprasil contingecy. The property Im in contract with has tenants and so far they have not given me access to perform these task and the seller and realtor all acknowledges this problem. I would typically ask the realtor this question but I am using the seller's agent to represent both parties so wanted to get outside opinion just be sure. My question is do i actually need to get these contingencies extended each time they come close to being expired (meaning buyer and seller has to change the dates on the contract and get both parties to sign it) or is there a contingency removal form required for me to sign and as long as it is not signed the contingencies stay in place? Im not sure what is proper protocal for this things? I want to make sure to protect my earnest money deposit.

[Dustin Allen]

@David P.

Typical CAR RPA will specify that a notice to perform document needs to be signed before seller can cancel because buyer hasn’t performed a specific part of the contract.

That being said, ask your realtor to write up an extension anyways and have it signed by both seller and yourself. This protects your rights better in the long run. Sounds like the seller shouldn’t have any problem doing that. After that, crack the whip on your realtor and get him to make the inspections happen. With proper notice, there shouldn’t be an issue getting someone in for inspections.

Disclaimer: I’m not an attorney and this isn’t legal advice. Just a friendly opinion. Talk to your realtor first and if it gets real sticky, talk to an attorney.