Realtors Bar ASIS Real Estate Form

Realtors Bar ASIS Real Estate Form

Parties

Seller Name:

Buyer Name:

Property Identification

Transaction Terms

Purchase Price: $

Closing Date:

Possession to Buyer:

Financing; Inspection; Contingencies

Financing Contingency: Buyer shall have calendar days after full ratification to obtain written loan commitment. If Buyer fails to secure financing within the stated period, Seller may elect to terminate or proceed.

Inspection Period: Buyer shall have calendar days to conduct inspections. Buyer may, in writing, notify Seller of defects and request repairs or credits. Seller's obligation to repair is limited by the AS-IS provisions below.

AS-IS Sale; Seller Representations

Seller expressly offers the property for sale in its present condition "AS-IS" with all faults and defects, known or unknown, except for representations expressly set forth in this agreement. Buyer acknowledges receipt of this AS-IS notice and understands that Seller makes no warranty, express or implied, as to condition, habitability, or fitness for a particular purpose beyond those representations contained in writing herein.

Seller represents that, to Seller's actual knowledge, other than disclosures below, there are no material defects affecting the property's habitability or structural integrity. Buyer acknowledges the right to complete inspections and investigative inquiries prior to closing. Buyer agrees that, except as provided in the inspection contingency and as otherwise expressly set forth in writing, Buyer accepts the property in its present condition.

Disclosures

Indicate whether the condition exists to Seller's knowledge. Seller shall complete and deliver all applicable statutory disclosures prior to acceptance.

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

Known Mold or Water Intrusion: Yes No

Prior Material Damage or Structural Repair: Yes No

Prorations; Costs; Commission

Real property taxes, assessments, rents and other proratable items shall be prorated as of the closing date. Buyer shall pay customary closing costs except Seller shall pay for standard title policy charges required of Seller. Broker commission due:

Title; Conveyance; Condition of Title

At closing, Seller shall convey marketable title by general warranty deed, subject only to permitted exceptions agreed in writing. Buyer or Buyer's lender may obtain a title report and shall raise any title objections in writing within days of receipt. If title defects are not cured prior to closing, Buyer may terminate under this agreement.

Default; Remedies

If Buyer fails to perform, Seller may retain the earnest money as liquidated damages or seek specific performance, at Seller's election. If Seller fails to perform, Buyer may seek specific performance or recover actual damages. Remedies are cumulative and available in law or equity; the prevailing party on any dispute shall be entitled to reasonable attorneys' fees and costs as determined by a court of competent jurisdiction.

Governing Law; Entire Agreement

This Agreement shall be governed by the laws of the state where the Property is located. The parties acknowledge that this written agreement, including all attached addenda and executed disclosures, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements, whether written or oral. Any modifications must be in writing and signed by all parties.

Broker Acknowledgment

The Broker(s) identified in this form acknowledge their role in presenting this agreement and shall comply with applicable fiduciary and disclosure obligations. Broker makes no independent warranty regarding property condition and shall not be responsible for latent defects not known to Broker.

Acknowledgment and Certification

By signing below, Seller and Buyer certify that they each have authority to enter this Agreement, have read the terms herein, and acknowledge the AS-IS nature of the sale subject to the limited exceptions expressly stated. Each party certifies that the information provided in this form is true and correct to the party's actual knowledge.

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