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PDF Editor FAQ

What is the difference between selling a house "as is" or with a "hold harmless" agreement?

I’ll let you in on a secret. All real estate is sold “as is”. It’s up to the buyer to determine exactly what “as is” is. That’s why inspection or due diligence periods are built into contracts. That is also why we now have extensive disclosure forms which sellers fill out. Of course if a seller knowingly withheld pertinent information about a defect in the property a buyer would have recourse.I don’t believe I’ve ever seen a property sell with a hold harmless agreement attached to the contract. I’ve seen properties which were in poor condition to the point that the seller required a hold harmless agreement before allowing access. This was just to make sure that the prospective buyer and their agent were forewarned about the condition and to use caution when inspecting the property prior to making an offer.

How do I avoid being held responsible for loss or damages while helping someone?

You will need a sign Hold Harmless form or also called a release of Liability form something like this: You can find templates on the web or my be able to buy a copy at a stationary store. I found this on on Release of Liability (Hold Harmless Agreement) Template Hope this helps you.

What is a contract of indemnity?

An indemnification agreement (also known as a hold harmless agreement) is a legally binding contract that holds a business harmless for any burden loss or damage done by the person or entity. This type of agreement also ensures that compensation is given in a case of some losses and damages.In any case, where you could assume the risk for something you’re not directly responsible for, you’ll likely need an indemnity agreement, here are some examples of cases and a template: Indemnification Agreement (Free Template) - Examples of indemnitySuch an agreement can be very essential and useful for many business relationships that result in some shared risk. It forces them to think about these risks in advance and put measures in place if something unexpected happens. It forces you to think about these risks in advance and put measures in place to protect you if something happens.Without an indemnification agreement, parties will likely blame each other when issues arise, resulting in expensive lawsuits. The challenge with such types of agreements is that they can be written in a one-sided way. That’s why it’s worth engaging with attorneys when assessing these clauses to ensure the deal is reasonable and fair for all parties.Here are the elements of a good indemnification agreement form (see the guide above for more details on each of these elements):What are you being indemnified for?What are the exceptions?How will you be indemnified?

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