Answer
Form 35R, the "Inspection Response for Form 35" form can be either a notice form or an amendment to the PSA, depending upon how it is used. Broker must understand the difference in these two uses so that broker will know whether all parties must initial the form or whether the initial of only one member of a party is sufficient. Lines 45-46 provide the key for brokers to use for guidance as to whether a single initial is sufficient or whether all party initials are required. As set forth in lines 45-46, where a single asterisk follows the check box provision, the provision sets forth a notice and a single initial from the party is required. Where a double asterisk follows the check box provision, the provision sets forth an amendment (or request for an amendment) and all parties must initial to evidence agreement to the amendment.
In the question presented, buyer marked the fourth check box provision in section I of Form 35R, seeking seller's agreement to provide concessions. That check box provision is followed by two asterisks. All buyers should have initialed the Form 35R prior to delivery to seller. In response, seller marked the first check box provision in section II. That provision is also followed by two asterisks meaning that all sellers should initial Form 35R prior to delivering the form back to the buyer.
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