From the buyer`s point of view, insurance and warranties (often referred to as „representatives and guarantees”) include issues such as the seller`s power to enter into the contract and sell the property, whether shares are deposited or threatened against the property in the event of an environmental or legal violation. They also contain statements that the seller has not filed a bankruptcy declaration and that he is not a foreign person/entity or a prohibited person under current law, that the property is not doomed and that all third-party shares in the property have been disclosed (for example. B rental shares as part of a lease). Before the vigilance period expires, the buyer should be able to terminate the PPE without penalty and recover the bulk of the deposit (but will often have to pay the trust and securities costs incurred). If the due diligence has expired and the buyer has not terminated the EPI, the down payment will not be refunded. As a general rule, the California PSAs contain a liquidation clause stating that if a buyer violates the EPI, the deposit is transferred to the seller as liquidated damages. A buyer`s offence, when it occurs, normally expires after the buyer can no longer terminate the contract without penalty, unless the seller violates the terms of the contract. Since the CAR agreement is linked to the date of acceptance, the extension of the purchaser`s date, in order to eliminate any eventuality, does not automatically extend the deadline for the trust. Most brokers forget what a loophole can create for the seller to serve a message, to perform and perhaps notice the cancellation of the trust. This is a common practice in today`s „sellers market.” This form is used by tenants who have the opportunity to renew their lease to inform the landlord of their intention. This form meets the tenant`s requirement to provide such written notification in all AIR leases. This form meets the State of California`s requirement that real estate agents and sellers disclose to contractors the nature and nature of agency relationships. During the duty of care, the purchaser must obtain an interim title report as soon as possible, as it provides access to documents that are listed in the title book and that affect the property.