Real Estate Contract Conditions

REAL ESTATE CONTRACT CONDITIONS

Parties and Contract Date

Contract Date:

Property Identification

Financial Terms

Purchase Price: $   Earnest Money Deposit: $   Deposit Due:

Buyer to obtain financing: Yes

Contingencies and Conditions

Inspection Contingency: Buyer has days from contract date to complete inspections. Inspection deadline: .

Appraisal Contingency: Applicable — Buyer may terminate or renegotiate if appraisal is below agreed purchase price.

Title and Survey: Seller shall deliver marketable title by closing. Title objections must be delivered within days of contract. Buyer may obtain survey: Yes

Sale of Buyer's Property Contingency: Required   If applicable, terms:

Disclosures

Lead-Based Paint Disclosure applicable (if property built before 1978): Yes No

Known Mold or Water Intrusion: Yes No

Prior Structural or Material Damage: Yes No

Closing, Possession and Prorations

Proposed Closing Date:   Possession Date:

Prorations: Property taxes, assessments, rents and utilities shall be prorated as of the closing date, unless otherwise agreed in writing.

Default, Remedies and Risk Allocation

If Buyer defaults, Seller may retain all earnest money as liquidated damages or pursue other remedies at law or equity including specific performance. If Seller defaults, Buyer may elect to receive return of earnest money and pursue damages or seek specific performance.

Insurance, Utilities and Maintenance

Seller shall maintain hazard insurance through closing. Buyer shall obtain insurance effective at closing. Responsibility for utilities transfers at possession except as otherwise agreed in writing.

Additional Provisions

Entire Agreement: This writing constitutes the entire agreement of the parties with respect to the subject matter and supersedes all prior agreements, representations, and negotiations, except as expressly incorporated herein.

Governing Law State: . The substantive law of the governing jurisdiction shall apply to interpretation and enforcement.

Certification and Acknowledgment

Each party certifies that the representations and warranties contained in the underlying purchase agreement and these conditions are true and correct to the best of the signing party's knowledge. Each party acknowledges that execution of this document creates binding contractual obligations subject to the remedies described herein.

Execution of this document may be accomplished in counterparts and by electronic signature, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

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