Question and Answer Regarding Contingencies

Question: I am a selling agent and my buyer has signed the Contingency for Sale or Purchase of Other Property form (“COP”). When does the inspection contingency time start running?

Answer: The contingency time frame begins running upon one of the following:

1. Delivery of escrow evidence - this is a copy of a contract, escrow instructions and related documents showing that a buyers’ property is in escrow;

2. Buyer’s election in writing to begin the time frame; or

3. Buyer’s removal of the contingency.

-Shannon B. Jones, Partner,

Danville Office

208 W. El Pintado Road

Danville, CA 94526

Tel: 925.837.2317

San Jose Office

111 North Market Street, Suite 300

San Jose, CA 95113

Tel: 408.363.3635

Sacramento Office

8880 Cal Center Drive, Suite 400

Sacramento, CA 95825

Tel: 916.368.1000