West Michigan Regional Purchase Agreement

WEST MICHIGAN REGIONAL PURCHASE AGREEMENT

DATE: (time) MLS #

SELLING OFFICE: BROKER LIC.#: REALTOR® PHONE:

LISTING OFFICE: REALTOR® PHONE:

1. Effective Date: This Agreement is effective on the date of Seller's acceptance of Buyer's offer or Buyer's acceptance of any counteroffer, as the case may be, and this date shall hereafter be referred to as the "Effective Date". Further, any reference to "days" in this Agreement refers to calendar days. The first calendar day begins at 12:01 a.m. on the day after the Effective Date. Any reference to "time" refers to local time.

Effective Date: Time:

2. Agency Disclosure: The Undersigned Buyer and Seller each acknowledge that they have read and signed the Disclosure Regarding Real Estate Agency Relationships. The selling licensee is acting as (check one):

Agent/Subagent of the Seller

Buyer’s Agent

Dual Agent (with written, informed consent of both Buyer and Seller)

Transaction Coordinator

Primary Selling Agent Name: Email: Lic.#:

Alternate Selling Agent Name: Email: Lic.#:

3. Seller’s Disclosure Statement: (This paragraph applies to sales of one-to-four family residential units.)

Buyer has received Seller’s Disclosure Statement, dated . Seller certifies to Buyer that the Property is currently in the same condition as Seller previously disclosed in that statement.

Buyer has not received Seller’s Disclosure Statement. Buyer’s obligations under this Agreement are subject to Buyer’s receipt of Seller’s Disclosure Statement. Exceptions:

4. Lead-Based Paint Addendum: Transactions involving homes built prior to 1978 require a written disclosure which is hereby attached and will be an integral part of this Agreement.

5. Property Description: Buyer hereby offers to buy the property located in the City City Village Township of , County, Michigan, commonly known as , Zip Code , with the following legal or tax description:

PP#

Seller agrees to grant Buyer at closing the right to make (insert number) division(s) ... If this sale will create a new division, Seller’s obligations under this Agreement are contingent on Seller’s receipt of municipal approval on or before

6. Purchase Price: Buyer offers to buy the Property for the sum of $ U.S. Dollars

7. Seller Concessions, if any:

8. Terms: The Terms of Purchase will be as indicated by “X” below: (Other unmarked terms of purchase do not apply.)

SOURCE OF FUNDS TO CLOSE: Buyer represents that the funds necessary to close this transaction on the terms specified below are currently available to Buyer in cash or an equally liquid equivalent.

If the Property’s value stated in an appraisal obtained by Buyer or Buyer’s lender is less than the Purchase Price, Buyer may within three (3) days after receipt of the appraisal: 1) renegotiate with the Seller, 2) terminate the transaction, in which case Buyer shall receive a refund of Buyer’s Good-Faith Deposit, or 3) proceed to close the transaction at the agreed Purchase Price.

CASH. The full Purchase Price upon execution and delivery of Warranty Deed.

Buyer agrees to provide Buyer Agent/Dual Agent verification of funds within five (5) days after the Effective Date. Any appraisal required by Buyer shall be arranged and paid for by Buyer within ten (10) days after the Effective Date of this Agreement.

NEW MORTGAGE. The full Purchase Price upon execution and delivery of Warranty Deed, contingent upon Buyer’s ability to obtain a type mortgage in the amount of bearing interest at a rate not to exceed per annum.

Buyer agrees to apply for a mortgage loan within days after the Effective Date.

Seller Buyer will agree to pay an amount not to exceed $ representing repairs required as a condition of financing.

9. Contingencies: The Buyer’s obligation to consummate this transaction (check one):

IS NOT CONTINGENT - is not contingent upon the sale or exchange of any other property by Buyer.

IS CONTINGENT UPON CLOSING - is contingent upon closing of a sale or exchange of Buyer’s property located at: on or before

IS CONTINGENT UPON THE SALE AND CLOSING - is contingent upon the execution of a binding agreement and the closing of a sale or exchange of Buyer’s property located at on or before

10. Fixtures & Improvements: The following is not intended to be an all-inclusive list of items included with the Property... and also includes:

but does not include:

11. Heating and Cooking Fuels: Liquid heating and cooking fuels in tanks are included in the sale... Exceptions:

12. Assessments (choose one):

Seller shall pay the entire balance of any such assessments that are due and payable on or before the day of closing.

Seller shall pay all installments of such assessments that become due and payable on or before day of closing. Buyer shall assume and pay all other installments.

13. Property Taxes: Seller will be responsible for any taxes billed prior to those addressed below.

No proration.

Buyer Seller will pay taxes billed summer

Buyer Seller will pay taxes billed winter

Calendar Year Proration (all taxes billed or to be billed in the year of the closing).

Fiscal Year Proration - Taxes will be prorated as though they are paid in advance. arrears.

Exceptions:

14. Well/Septic: Within ten (10) days after the Effective Date, the Seller will arrange and pay for an inspection of the primary well used for human consumption and septic systems in use on the Property.

Exceptions:

15. Inspections & Investigations: Buyer has the right to inspect the buildings, premises, components and systems, at Buyer’s expense...

Buyer has waived all rights under this Inspections & Investigations paragraph.

16. Municipal Compliances: The Seller will arrange and pay for current certificates of occupancy, sidewalk compliance, and smoke detector ordinances, if applicable.

17. Title Insurance: Seller agrees to convey marketable title to the Property...

Exceptions:

18. Property Survey: Broker advises that Buyer should have a survey performed...

Buyer Seller (check one) shall obtain and pay for:

A boundary survey certified to Buyer with iron corner stakes and with improvements and easements located on a map of survey.

A surveyor’s report or sketch (not a boundary survey) re-certified to Buyer showing the approximate location of improvements.

No survey.

19. Home Protection Plan: Buyer and Seller have been informed that home protection plans may be available.

20. Prorations: Rent; association dues/fees, if any; insurance, if assigned; interest on any existing land contract, mortgage or lien assumed by Buyer; will all be adjusted to the date of closing.

21. Closing: If agreeable to both parties, the sale will be closed as soon as closing documents are ready, but not later than

22. Possession: Seller will maintain the Property in its present condition until the completion of the closing of the sale.

At the completion of the closing of the sale.

At on the day after completion of the closing of the sale, during which time Seller will have the privilege to occupy the Property and hereby agrees to pay the Buyer $ as an occupancy fee.

23. Good-Faith Deposit: For valuable consideration, Buyer gives REALTOR® above named until (time) on to obtain the written acceptance of this offer and agrees that this offer, when accepted by Seller, will constitute a binding agreement between Buyer and Seller and herewith deposits $ held by

24. Professional Advice: Broker hereby advises Buyer and Seller to seek legal, tax, environmental and other appropriate professional advice relating to this transaction.

25. Disclosure of Information: Buyer and Seller acknowledge and agree that the Purchase Price, terms, and other details with respect to this transaction are not confidential.

26. Other Provisions:

27. Mergers and Integrations: This Agreement is the final expression of the complete agreement of the parties...

28. Fax/Electronic Distribution and Electronic Signatures: The parties agree that any signed copy of this Agreement... consent to use of electronic signatures.

29. Buyer’s Acknowledgment: Buyer hereby acknowledges receipt of a copy of this Agreement.

30. Seller’s Acceptance: The Above Offer is Hereby Accepted:

DATE: (time)

As written. As written except:

Counteroffer, if any, expires , at

31. Certification of Previous Disclosure Statement: Seller certifies to Buyer that the Property is currently in the same condition as disclosed in the Seller’s Disclosure Statement dated (check one): Yes No.

32. Notice to Seller: Seller understands that consummation of the sale or transfer of the Property described in this Agreement will not relieve the Seller of any liability...

33. Listing Office Address: Listing Broker License #

Listing Agent Name: Listing Agent License #

34. Seller’s Acknowledgment: Seller has read this Agreement and acknowledges receipt of a copy.

DATE: (time)

35. Buyer’s Receipt/Acceptance: Receipt is hereby acknowledged by Buyer of Seller’s acceptance of Buyer’s offer.

DATE: (time)

36. Seller’s Receipt: Seller acknowledges receipt of Buyer’s acceptance of counter offer.

DATE: (time)