Real Estate Spec Form

REAL ESTATE SPEC FORM

Parties

Seller Name:

Buyer Name:

Property Identification

Financial Terms

Purchase Price:

Earnest Money Due:   To Escrow Holder:

Closing Date:   Possession Date:

Financing & Contingencies

Financing Contingency Required: Yes    No

Days to Remove Financing Contingency:

Inspection, Repairs & Items Included

Inspection Period (days):   Buyer Right to Repair: Yes    No

Disclosures

Lead-Based Paint Known: Yes    No

Mold or Water Intrusion History: Yes    No

Prior Structural or Fire Damage: Yes    No

Known Liens or Encumbrances: Yes    No

Flood Zone or Special Zoning Designation: Yes    No

Taxes, Closing Costs & Prorations

Property Taxes Prorated To:

Seller Pays Closing Costs: Yes    No

Utilities, Maintenance & Insurance

Utilities Responsibility Through Possession: Seller    Buyer

Maintenance and Repairs Prior to Closing: Seller    Buyer

Default, Remedies & Dispute Resolution

If Buyer fails to perform, Seller may retain earnest money as liquidated damages or pursue specific performance or other remedies at law or equity. If Seller fails to convey good and marketable title, Buyer may pursue specific performance, termination and return of earnest money, or damages. The parties agree to the allocation of remedies described in this form and acknowledge that remedies are subject to statutory rights and equitable relief.

Representations & Warranties; Certifications

Seller represents that Seller is the lawful owner of the Property, that there are no undisclosed material defects in the Property to Seller's knowledge, and that Seller has authority to enter into this agreement. Buyer acknowledges receipt of disclosures indicated herein and the right to inspect the Property within the inspection period. Both parties warrant that the information provided in this form is true and complete to the best of their knowledge.

Governing Law; Entire Agreement

This Spec Form shall be governed by the laws of the state in which the Property is located. This document, together with any attached addenda and exhibits expressly incorporated by reference, constitutes the entire agreement between the parties concerning the matters set forth herein and supersedes prior negotiations, representations and agreements, whether written or oral.

Additional Provisions / Addenda

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