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We are in the Process of 'Purchase To-Option' Window period for a Condo Unit.

We spoke agent before giving the offer that the House should be handover to us in proper condition once all the formality completed. Agent also agreed and however it was verbal communication, Nothing in Black and White.

One of the issues we observed during our viewing of the Unit and we highlighted that time that there were seepage issues in the ceiling.
There might be few more issues we could not even noticed during the formal view of house like Cracks, any drainage issue etc. etc.

Agent now provided the 'Options to Purchase' Paper with Landlord signature where it is mentioned that Property will be provided to Buyer as As-Is condition.
When I asked to Agent about this written condition, he is not ready to do any amendments of 'Options to Purchase' Paper And he also does not ready to any servicing to rectify the issues.

Any suggestions how to handle this scenario?

Many Thanks in Advance.
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2 Answers

Hi,
This is always the case when buyers choose not to engage a agent to represent themselves. In most cases, this is what the seller does. So, if you think it is too much of a hassle, you can choose to walk away. Otherwise, you can sign the OTP and engage your contractor to handle the issues upon completion. You probably have the engage the neighbour upstairs for leakages.
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Do you mean that you have put up an offer without the Offer To Purchase in black and white stating your conditions of offer? This is actually quite tricky as it is your words against the agent's words if you are intending to void the Option To Purchase.

I am assuming that the window period you are referring to is the Option Period, and it should be stated in the Option To Purchase clearly on when you should exercise the Option To Purchase. In the event that you do not proceed to exercise the Option To Purchase, then the option money you have put in will be forfeited.

Side note, since this is likely a resale unit, it will quite likely come with wear and tear, which in most cases, we will sell on a as-is-where-is condition which you have mentioned, without any defect liability clauses. Of course, as this is a private agreement between vendor and purchaser, both of you can negotiate on such clauses before entering into the agreement and it has to be reflected in the Option To Purchase.

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