There’s a clause in the purchase and sales contract (aka agreement to purchase) in our state that addresses items that will “survive” of the contract (the survival clause).  I just want to stand up and say how much I appreciate that clause – it’s kicked in a few times already and in both cases to the benefit of my buyer.

The first time my buyer had a window that needed to be replaced. The window had been ordered but wasn’t in by the time the house closed.  It actually took several months for the window to come in and in the end it wasn’t completed correctly, but we did finally put it to rest.

Then this week my latest buyer told me that the seller had removed all the towel racks from the bathroom.  We have found a compromise (she is being reimbursed by the seller to replace them), but it’s because of the survival clause that they have to step up and make  right the condition of the home.

If you are a buyer or a seller, make sure you understand the survival clause in the contract.  Don’t think that just because the house closes it’s all over.

Photo by Ashley the Artist’s 2002 Photostream via Flickr Creative Commons.