Question

A buyer client wants to make an offer on a property that was the location of a manufacturing factory and worried about environmental contamination. What appropriate conditional clause the Salesperson can add in the "agreement of purchase and sale" to protect buyer's interest?

Answer 1

To protect the buyer's interest in a potentially contaminated property, a salesperson can add a clause to the Agreement of Purchase and Sale that makes the offer conditional on a satisfactory environmental inspection.

Step-by-step explanation:

A buyer interested in purchasing a property that was formerly a manufacturing factory and is concerned about environmental contamination should have their salesperson include a conditional clause in the Agreement of Purchase and Sale.

This clause should stipulate that the offer is subject to the property passing a satisfactory environmental inspection or assessment.

The environmental assessment will evaluate the presence of contaminants and the property's compliance with relevant environmental standards.

If contamination is found, the clause can provide options, such as the seller remedying the issue or adjusting the purchase price to reflect cleanup costs.