Real Estate Specifications

REAL ESTATE SPECIFICATIONS

Parties

Seller Name:

Buyer Name:

Property Identification

Financial Terms

Purchase Price: $

Earnest money due on or before:

Financing contingency: Buyer to obtain loan in the amount of $ . Days to remove financing contingency:

Inspections and Contingencies

Inspection period: days from effective date. Inspection objection deadline:

Closing and Possession

Closing date: . Possession to be delivered:

Inclusions, Exclusions, and Fixtures

Disclosures

Lead-based paint present: Yes No

Known mold or moisture damage: Yes No

Prior material damage or repairs disclosed: Yes No

Located in known flood zone: Yes No

Outstanding code or zoning violations known: Yes No

Title, Insurance, and Risk

Default, Remedies, and Indemnities

If Buyer or Seller defaults under these specifications, the non-defaulting party may pursue all remedies available at law or in equity including specific performance, damages, or retention/forfeiture of earnest money as liquidated damages where appropriate. Remedies are cumulative and do not preclude election of any available remedy.

Miscellaneous Provisions

Governing law: This agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located, without regard to conflict of law principles.

Entire agreement: These specifications, together with any attached addenda and the purchase contract to which they are incorporated, constitute the entire agreement of the parties and supersede all prior negotiations, representations, and agreements, whether written or oral.

Acknowledgment and Certification

Each party certifies that the information provided in these specifications is true and complete to the best of the party's knowledge, that the party has full authority to enter into the obligations set forth, and that execution of these specifications forms a binding part of the underlying purchase agreement when executed by both parties.

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