Should Buyers Remove Any Contingencies with Offer?

Should Buyers Remove Any Contingencies with Offer?

RPA 3.L. (1-7) and  RPA paragraph 8. – REMOVAL OR WAIVER OF CONTINGENCIES WITH OFFER. Buyer shall have no obligation to remove a contractual contingency unless Seller has provided all required documents, disclosures, and information pertaining to that contingency. If Buyers does remove a contingency without first receiving all required information from Seller, Buyer is relinquishing any contractual rights that apply to that contingency. If Buyer removes or waives any contingencies without an adequate understanding of the Property’s condition or Buyer’s ability to purchase, Buyer is acting against the advice of Agent.

1. Keller Williams recommends that Buyer NOT remove contingencies with the Offer.
2. If Buyer removes any contingencies with the Offer, Buyer’s Agent is to explain the possible consequences to the Buyer.
   1. CR Contingency Removal needs to be used. Buyer needs to check the appropriate box or boxes indicating which contingencies are being removed or use paragraph 3 (“All” except . . . ) or paragraph 4 (“All” contingencies are removed).
   2. NCOA Non-Contingent Offer Advisory needs to be used advising Buyer of the risks of removing any contingencies with Offer and that Buyer is acting against the advice of the Broker.