Form Approved by the Toledo Regional Association of Realtors and the Toledo Bar Association

Residential Real Estate Purchase Agreement

Form approved by the Toledo Regional Association of REALTORS® and the Toledo Bar Association.

This is a legal Agreement. It is recommended that both parties secure the services of an attorney.

Purchaser’s Initials ______ Seller’s Initials _____

1. OFFER. The undersigned purchaser(s) ("Purchaser") offers to buy from the owner(s) ("Seller") the property described below ("Property") on the terms contained in this offer (“Offer”). Upon delivery of the executed acceptance ("Acceptance"), this Offer shall become a legally binding contract ("Agreement").

2. PROPERTY.

Street Address: City, Village, Township:

County: State: Zip:

Parcel I.D.#:

Legally described as:

The Property includes the land and all appurtenant rights, privileges and easements, all buildings and fixtures, including without limitation, all of the following as are NOW on the Property:

ranges / ovens microwave ovens dishwashers

kitchen refrigerators water softeners window air conditioners satellite TV reception systems wall mounted TV(s)

all existing window treatments all existing fireplace equipment washing machine and clothes dryer affixed gas/oil tanks not including fuel therein

NOT Included:

3. PRICE. The Purchase Price shall be $ payable at Closing in cash, certified funds or wire transfer in immediately available funds.

4. EARNEST MONEY. Purchaser has paid or shall pay earnest money to , which earnest money shall be applied toward the Purchase Price at Closing, in the amount of $

with this Offer (to be deposited in trust account upon Acceptance).

within three (3) days of Acceptance (to be deposited in trust account upon receipt).

5. FINANCING. This Agreement is not is conditioned upon Purchaser securing Conventional FHA VA Other (if Other is selected, write in type of loan) financing within days after Acceptance.

6. CLOSING AND POSSESSION. Closing shall be held on or before , 20 ("Closing"), unless extended as provided in this Agreement or by written mutual consent.

Possession shall be granted at Closing days after Closing (rent free), subject to rights of tenants, if any, listed in Paragraph 28 or in the Leased Property Addendum.

7. INSPECTIONS. Purchaser, at Purchaser's expense, shall have the right until the later of days after Acceptance or until ("Inspection Period") to obtain inspections of the Property.

8. SEX OFFENDER REGISTRATION. This Agreement is conditioned upon Purchaser’s satisfaction with Purchaser’s investigation of public records available pursuant to any applicable sex offender registration and/or notification laws within days from Acceptance.

9. APPRAISAL. This Agreement is conditioned upon the Property appraising by Purchaser’s lender or an appraiser of Purchaser’s choice at no less than the Purchase Price by the later of the expiration of the Financing Contingency Period or the Inspection Period.

10. PROPERTY INSURANCE. If homeowner’s insurance cannot be obtained, or can be obtained only at a higher than standard rate due to the condition or claims history of the Property, then the Purchaser may terminate this Agreement by providing written notice to Seller by the later of the expiration of the Financing Contingency Period or the Inspection Period.

11. SPECIAL FLOOD HAZARD AREA. If the Property is determined to be in a Special Flood Hazard Area, as determined by the current Flood Maps published by the Federal Emergency Management Agency, Purchaser may terminate this Agreement by providing written notice to Seller by the later of the expiration of the Financing Contingency Period or the Inspection Period.

12. HOME WARRANTY. Seller shall shall shall not be required, at Seller’s expense, to provide Purchaser a one (1) year home warranty issued by at a cost not to exceed $

13. CONDITION OF PROPERTY. Except as previously disclosed in writing to Purchaser, Seller has no knowledge of any underground tanks, faulty major appliances, faulty electrical, plumbing, heating, cooling, sewer, septic, well or water systems, structural or chimney defects, hidden or latent defects (including leakage or water seepage) in the Property.

EXCEPT:

14. SPECIFIC DISCLOSURES: In addition to the representations of Seller elsewhere in this Agreement, Purchaser has relied on the following additional specific disclosures and/or representations. (IF NONE, WRITE "NONE")

15. DEED. Seller shall convey to Purchaser marketable title to the Property in fee simple by transferable and recordable general warranty deed with proper release of dower, if any, or fiduciary deed, whichever is appropriate, free and clear of all liens and encumbrances, except (a) those items excepted in Paragraph 17 and (b) taxes and assessments not due and payable until after the date of Closing.

16. PRORATIONS AND CLOSING COSTS. Seller shall pay all taxes and assessments, both general and special, due and payable as of the date of Closing.

17. TITLE. Seller shall furnish Purchaser a commitment for an ALTA Homeowners Policy of Title Insurance (or an ALTA Owner’s Policy of Title Insurance when the ALTA Homeowners Policy of Title Insurance is not applicable for issuance on the transaction), in the amount of the Purchase Price, from a title company of Purchaser’s choosing. Such title evidence shall be prepared and issued by .

18. SELLER'S REPRESENTATIONS. Seller represents that with respect to the Property ... Seller's marital status is as indicated next to Seller's signature on the signature page of this Agreement.

19. PURCHASER'S ACKNOWLEDGEMENTS. Purchaser acknowledges that (a) Purchaser has examined the Property, (b) Purchaser has the opportunity to obtain additional inspections, (c) Seller has not made any representations concerning the Property upon which Purchaser has relied, except as specifically set forth in this Agreement, (d) unpaid water and sewer bills may become a future lien against the Property, and (e) Seller's representations contained in Paragraph 13 and 18 are based on Seller's actual knowledge and do not constitute a warranty concerning the condition of the Property.

20. BROKERAGE DISCLAIMER. Purchaser and Seller acknowledge that no broker or agent involved in this transaction has made any representations concerning the Property upon which Purchaser or Seller has relied, except as specifically set forth in this Agreement.

21. TERMINATION PROCEDURES. If the final Offer is not accepted, all deposits shall promptly be returned to Purchaser.

22. PROPERTY MAINTENANCE AND UTILITIES. Seller shall maintain the Property in its present condition pending Closing and transfer of possession, normal and reasonable wear excepted.

23. RISK OF LOSS. Risk of loss to the Property from fire or other casualty shall be borne by Seller until Closing.

24. GENERAL PROVISIONS. The following provisions apply to all paragraphs of this Agreement:

may may not be executed by the parties, or either of them, by electronic signature created through any program adopted and approved by the Toledo Regional Association of REALTORS®.

25. APPROVED FORM. This form of Residential Real Estate Purchase Agreement has been approved by the Toledo Regional Association of Realtors and the Toledo Bar Association as a standard form to use for sales and purchases of residential property in the Toledo, Ohio metropolitan area.

26. ADDENDA. The following addenda are made a part of this Agreement only if checked:

Buyer Short Sale FHA or VA Mortgage Leased Property Closing Affidavit Association Land Contract Other

27. ATTORNEY'S REVIEW. This Agreement is subject to rescission in writing by Purchaser and Seller after review by their respective attorneys within 3 days after Acceptance (excluding Saturdays, Sundays and federal holidays).

28. ADDITIONAL TERMS (the following terms have NOT been preapproved by the Toledo Regional Association of REALTORS® or the Toledo Bar Association, even if preprinted in this form, and are unique to this Agreement).

TIME LIMIT OF OFFER:

This Offer, made on , 20 , remains open for acceptance until , 20 at a.m. p.m.

ALL CHANGES TO ORIGINAL OFFER AND/OR THIS PRINTED AGREEMENT MUST BE INITIALED AND SHOULD BE DATED BY SELLER AND PURCHASER.

ACCEPTANCE:

Acceptance of the Offer, without change, has been delivered this day of , 20 and acknowledged by .

RECEIPT OF DEPOSIT

Purchaser’s Initials ______ Seller’s Initials _____