Real Estate Basement Plan

REAL ESTATE BASEMENT PLAN

Parties and Property

Buyer Name:    Seller Name:

Property Address:

Basement Summary

Basement Type:    Total Gross Area (sq ft):

Existing Condition:    Proposed Condition:

Room Schedule (Basement)

Provide room-by-room dimensions, ceiling heights and finish status. Add additional sheets if necessary.

Dimensions (L x W):    Ceiling Height:    Finished: Yes No

Dimensions (L x W):    Ceiling Height:    Finished: Yes No

Dimensions (L x W):    Ceiling Height:    Finished: Yes No

Structural, Egress & Code Compliance

Ceiling Heights, Egress and Means of Escape must meet applicable building codes. Seller represents to the best of Seller's knowledge that the following conditions apply:

Minimum Finished Ceiling Height:    Egress Window Present: Yes No

Stair Compliance: Compliant Non-Compliant    Smoke/CO Detectors Present: Yes No

Mechanical, Electrical & Plumbing

Identify mechanical systems located in or serving the basement and any required relocations or upgrades.

Waterproofing, Drainage & Moisture

Sump Pump Present: Yes No    Interior Drain Tile / French Drain: Yes No

Disclosures

Seller discloses the following conditions known to Seller with respect to the basement:

Prior Flooding / Water Intrusion: Yes No

Mold or Remediation History: Yes No

Lead Paint / Hazardous Materials Known: Yes No

Inspections, Approvals & Permits

All necessary permits and inspections required for the proposed basement condition shall be obtained and paid for by:

Responsible Party for Permits:    Estimated Permit/Inspection Cost Allowance:

Buyer shall have a period of days from the Effective Date to conduct inspections specific to the basement and to deliver written notice of any objections.

Change Orders & Modifications

Any material change to the approved basement plan must be documented by a written change order signed by both Buyer and Seller. Change order shall include scope, cost impact, and revised schedule.

Default, Remedies & Indemnity

If Seller's representations regarding the basement plan are materially inaccurate and Seller fails to cure within a reasonable period, Buyer may (a) require Seller to correct non-conforming conditions prior to closing, or (b) rescind the transaction if correction is not feasible. Buyer and Seller agree to mitigate damages and to provide prompt written notice of claims.

Each party shall indemnify and hold the other harmless from claims arising from that party's breach of this Plan, except to the extent caused by the indemnitee's gross negligence or willful misconduct.

Governing Law; Entire Agreement

This Basement Plan is governed by the laws of the state where the Property is located. This Plan, together with any attached exhibits and the primary real estate contract to which it is attached, constitutes the entire agreement between the parties concerning the basement and supersedes prior understandings, whether written or oral.

Acknowledgment and Certifications

By signing below, Seller certifies that the information provided in this Basement Plan is true and accurate to Seller's knowledge and that Seller will disclose any subsequently discovered material basement-related conditions prior to closing. Buyer acknowledges receipt of the Basement Plan and the opportunity to inspect the basement and related systems.

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