Real Estate Memo

REAL ESTATE MEMO

Memo Date:    Offer Expiration Date:

Parties and Contact Information

Property Identification

Parcel / APN:    County:

Transaction Summary

Purchase Price: $    Earnest Money Deposit: $    Deposit Due: within days of mutual acceptance

Financing Contingency:

Inspection / Due Diligence Period: days from mutual acceptance. Items to be inspected include structure, mechanical, roofing, pest, and environmental matters.

Closing Date:    Possession Date:

Escrow, Title, and Closing Costs

Allocation of Closing Costs: Seller pays    Buyer pays

Included / Excluded Items

Condition, Inspections, and Repairs

Property conveyed: in its current physical condition subject to agreed repairs. Seller to complete agreed repairs prior to closing:

Disclosures

Lead-Based Paint (if applicable): Yes No

Mold / Water Intrusion: Yes No

Prior Material Damage or Claims (fire, flood, structural): Yes No

Special Conditions and Contingencies

Binding Effect; Confidentiality; Remedies

Binding vs Non-Binding: This Memo is intended only to summarize the principal business terms of a proposed transaction and, except for the Confidentiality, Exclusivity, Broker Commission, and Governing Law provisions expressly identified below, is non-binding and does not create any obligation to consummate the transaction unless and until a definitive Purchase Agreement is executed by the parties. The parties acknowledge that specific provisions set forth below shall be binding as indicated.

Confidentiality: The parties agree that all non-public information exchanged in connection with this Memo and any due diligence shall be treated as confidential and shall not be disclosed to third parties without prior written consent of the disclosing party, except as required by law. This confidentiality obligation is binding.

Exclusivity: For the period of the inspection/due diligence and until the earlier of mutual execution of a Purchase Agreement or the Offer Expiration Date, Seller agrees not to solicit or accept other written offers for the Property. This exclusivity obligation is binding.

Default and Remedies: If Buyer fails to timely deposit earnest money or otherwise defaults, Seller may retain the earnest money as liquidated damages or pursue any remedies available at law or equity. If Seller refuses to close after Buyer has satisfied all obligations, Buyer may seek specific performance or damages. These remedies are subject to negotiation in any definitive agreement.

Broker and Commission: Any brokers claiming a commission in connection with this transaction must be disclosed in writing. Commission arrangements shall be the responsibility of the party obligated under the applicable brokerage agreement and are binding as separately agreed.

Governing Law: The parties agree that any disputes arising from the binding provisions of this Memo shall be governed by the laws of the state in which the Property is located. This selection of governing law is binding.

Entire Agreement: This Memo constitutes the entire, non-binding summary of terms except as otherwise stated. Any modification must be in writing signed by both parties to be effective.

Acknowledgment

By signing below, the parties acknowledge receipt of this Real Estate Memo, confirm that the terms set forth accurately reflect the current understanding of the parties, and acknowledge which provisions are intended to be binding as stated herein.

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