Real Estate Approval Documents

REAL ESTATE APPROVAL DOCUMENTS

Parties and Contact Information

Buyer Name:

Seller Name:

Property Identification

Parcel / APN Number:

Approval Summary and Financial Terms

Purchase Price: $ Earnest Money Deposit: $

Earnest Money Due Date: Closing Date: Possession Date:

Conditions of Approval

1. Financing Contingency: This approval is conditional upon Buyer obtaining written loan commitment for the Purchase Price less allowable down payment within days of the Effective Date. If Buyer fails to obtain such commitment within the stated period, Seller may elect to terminate the Agreement and retain remedies as set forth below.

2. Inspection Period: Buyer shall have an inspection period of days to inspect the Property. Buyer must provide written notice of defects specifying requested repairs or credits prior to expiration of the inspection period. Failure to timely deliver such notice constitutes acceptance of the Property in its then condition.

3. Appraisal and Condition: This approval is conditioned upon the Property appraising at or above the Purchase Price and upon no material adverse change to the physical condition of the Property prior to Closing. If the appraisal is less than the Purchase Price, Buyer may terminate or negotiate an adjustment within days.

Approvals and Permits

Homeowners Association Approval Required: Yes

Municipal/Zoning Permit Required: Yes

Approval Deadline:

Disclosures

Lead-Based Paint Disclosure: Known lead-based paint on property? Yes No

Mold or Water Intrusion History: Known history of mold or water intrusion? Yes No

Prior Structural Damage or Material Repairs: Prior structural damage or repairs that affect habitability? Yes No

Default, Remedies and Allocation of Costs

Default and Cure: If Buyer fails to perform prior to Closing, Seller may retain earnest money as liquidated damages and pursue any additional remedies available at law or equity after providing written notice and a day cure period. If Seller defaults, Buyer may seek specific performance or return of earnest money and damages.

Allocation of Closing Costs: Title and escrow fees, recording fees, transfer taxes and other customary closing costs shall be allocated as follows: Seller pays ; Buyer pays .

Attorney Fees and Costs: The prevailing party in any action to enforce this approval shall be entitled to recover reasonable attorneys' fees and costs incurred in addition to other remedies.

Insurance and Title

Title Insurance: Seller shall deliver marketable title and provide a standard owner's title insurance policy at Closing subject to customary exceptions and encumbrances. Buyer shall obtain any lender's title policy at Buyer's expense unless otherwise agreed in writing.

Property Insurance: Buyer shall obtain hazard insurance effective as of Closing; Seller shall maintain existing policies until Closing and shall notify Buyer of any cancellation or material change.

Governing Law and Entire Agreement

Governing Law: This approval and the underlying transaction shall be governed by and construed in accordance with the laws of the state of without regard to conflict of law principles.

Entire Agreement: This document constitutes the entire agreement between the parties with respect to the matters addressed herein and supersedes all prior written or oral agreements. Any modification must be in writing and executed by both parties.

Certifications

Each party certifies that the individual signing below is authorized to execute this document on behalf of the named party and that the information provided herein is true and correct to the best of that party's knowledge. Each party further acknowledges that they have read and understand the obligations, conditions, and remedies set forth in this document and agree to be bound thereby.

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