Real Estate Selection Form

REAL ESTATE SELECTION FORM

This Real Estate Selection Form documents the selection and principal terms for the real property identified below. Completion and signature by Buyer and Seller/Developer constitute the parties' mutual confirmation of the selections and primary economic terms set forth herein. This form is intended to be incorporated into and superseded by any subsequently executed purchase agreement consistent with the terms below.

PARTIES

PROPERTY IDENTIFICATION

SELECTION DETAILS & FINANCIAL TERMS

Lot/Unit Number:    Model/Plan:

Selection Date:    Selection Fee (non-refundable unless otherwise stated): $

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

Financing Type: Cash Conventional FHA VA Other:

Financing Contingency Period (days):    Inspection Period (days):

Anticipated Closing Date:    Possession Date:

DISCLOSURES

Lead-Based Paint Disclosure: Yes No

Mold / Environmental Concerns: Yes No

Prior Structural or Material Damage (fire, flood, settlement): Yes No

Homeowners Association (HOA) Exists: Yes No    If yes, HOA Name and Contact:

Flood Zone: Yes No

UTILITIES, MAINTENANCE & RISK

Seller responsible for utilities and maintenance until closing: Yes No

Risk of loss provision: Unless otherwise agreed in a subsequent purchase agreement, damage to the property prior to closing that materially affects value shall be addressed by repair or credit at Seller's election.

DEFAULT, REMEDIES & TITLE

If Buyer fails to timely perform any monetary obligation set forth above, Seller may retain the earnest money as liquidated damages, seek specific performance, or pursue other remedies at law or equity as provided in a subsequent purchase agreement. If Seller fails to convey marketable title free of material liens at closing, Buyer may elect specific performance, termination with refund of monies paid to date, or other remedies permitted by law.

Title and vesting: Conveyance shall be by general warranty deed (or other instrument customary for the jurisdiction) conveying marketable title subject only to those exceptions previously disclosed and accepted by Buyer in writing.

GOVERNING LAW & ENTIRE AGREEMENT

This Selection Form is governed by the substantive laws of the state in which the Property is located. This document, together with any subsequently executed purchase agreement and addenda that expressly incorporate it, constitutes the entire agreement between the parties relating to the selections described herein and supersedes all prior negotiations and representations, whether oral or written.

ACKNOWLEDGMENT

By signing below, Buyer and Seller acknowledge that the selections and terms set forth in this form are accurate and are intended to serve as the parties' binding confirmation of the selections and principal economic terms identified above, subject to the negotiation and execution of a definitive purchase agreement when required by the parties.

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