Definition
This is a set time period (usually 5-10 days) that the seller gets to fix problems found during inspection or to satisfy contingency issues. It's a fair compromise—gives the seller a chance to resolve problems rather than just canceling the deal.
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Cure period allows seller time to fix inspection issues or satisfy contingencies. Typically 5-10 days. Allows negotiations avoiding cancellation. Seller motivation to fix problems quickly. Buyer protection from unwilling seller. Clear cure terms prevent disputes. Professional language specifies cure timeline. Reasonable cure periods expected. Excessive cure periods protect seller unfairly. Buyer negotiates cure period upfront. Strategic timing critical. Documentation prevents interpretation disputes.
Pro Tip
Negotiate reasonable cure periods. Avoid excessive seller-favoring terms that give them too much time to fix or too much flexibility.
Example
Cure period of 7 days allowed seller to complete roof repair.