CONTRACT TEMPLATE - Residential COMPLETE THIS TEMPLATE WHICH WILL AUTOMATICALLY TRANSFER TO CONTRACT Day of Month: Month: Year: 20 Seller Full Name(s) and Marital Status: Buyer Full Name(s) and Marital Status: Legal Description: ( include # acres m/l, if property has acreage) Property Address: County: Personal Property Included: Personal Property Excluded: ( Leave Blank Unless Specific Personal Property Stays and Never Type none ) ( Leave Blank unless specific items excluded ) Written Purchase Price: Dollar Purchase Price $: Earnest Deposit $: ( don t include $ ) ( don t include $ ) Transaction Type: Cash: (Place X ) Financing Condition: Conv: FHA: VA: Bank: Owner: Other: SPECIAL CONDITIONS: Date of Closing: (Allow Sufficient Time - Can Always Close Sooner) Possession: (Use Time of Closing / Day of Closing / XX Days After Closing) Selling Associate: Listing Company: Property Disclosure Applies: Yes: Broker Services Section: (Place X ) No: (Leave Blank unless Selling Associate is acting as a Single Party Broker)
This is a legally binding contract; if not understood, seek advice from an attorney. REAL ESTATE PURCHASE CONTRACT (Residential Contract) CENTURY 21 Wright Real Estate Tahlequah Office 918-456-5288 Hulbert Office 918-772-6099 Keys Office 918-456-1016 THIS CONTRACT dated this day of, 20 made and entered into by and between as ("Seller") and ("Buyer"). WHEREAS THE PARTIES herein hereby agree to the following terms and conditions: 1. SALE: Seller agrees to sell and Buyer agrees to purchase the following described real estate, to-wit: Said property has a mailing address of, County of, Oklahoma. Together with all the improvements thereon and the appurtenances, if any, thereunto belonging, including all, except already reserved, of the mineral rights, and subject to existing zoning ordinances, restrictions and easements. 2. PERSONAL PROPERTY: In case the property herein is improved, it is understood that all existing fixtures and fittings that are attached to the property are INCLUDED IN THE PURCHASE PRICE (unless excluded below). These may include, but are not limited to, such items as all window coverings, light fixtures, air conditioners, fireplace inserts and attached fireplace screens, built-in appliances, storage building, propane tank, pool and spa equipment, garage door opener(s) and control (s), ceiling fans, trees, shrubs, landscape, plumbing fixtures, TV antenna, curtain rods, cookstove, water membership (including use of water meter), unless otherwise specified herein, and including the following personal property, if any: Attached items excluded (if any): 3. PURCHASE PRICE: The total purchase price is Dollars ($ ) payable by Buyer as follows: sum of $ on execution of this contract which is deposited with the Listing Broker identified below, as earnest money and part payment of the purchase price; and the balance of the purchase in cash or cashiers check at closing, unless provided in Sections (4) or (5) below: 4. FINANCING CONDITIONS: (Check below which applies to this transaction) This is an all cash sale and shall not be conditioned upon buyer acquiring financing. This contract is conditioned upon Buyer acquiring Conventional FHA VA Bank Owner Other financing as may be further defined in Section 5 below. Buyer agrees to make loan application within 5 working days from date of completed effective contract between Buyer and Seller. If Buyer fails to make loan application within the time as set forth, then Seller will have the option to cancel this contract and return Buyer's earnest deposit. 5. SPECIAL CONDITIONS: Real Estate Purchase Contract Page 1 of 5: Buyer Initials Seller Initials
6. STATE OF PROPERTY, INSPECTION, AND DISCLAIMER: Neither Seller, Broker(s), nor their associates, are experts regarding the state or condition of the Property. No representations regarding the condition of Property, or environmental hazards, are expressed or implied, other than as may be specified by Seller in Paragraph 5 above, or as specified in the Oklahoma Real Estate Commission (OREC) Residential Property Condition Disclosure Statement ("Disclosure Statement") or the OREC Property Disclaimer Statement ("Disclaimer Statement"), if applicable. (A) Flood Notification. If required by a City or County governmental agency, Seller shall deliver to Buyer within ten (10) days of the Effective Date of this contract, notice in writing if Property is located in an area designated as a flood hazard area as defined by such City and/or governmental agency. (B) Inspection and Review Time Period. Buyer, at Buyer's expense, shall have ten (10) days from the Effective Contract Date as provided on Page 4 of this Contract and further referenced in Paragraph 16 below, which shall be based upon completion of all final modifications to this Contract, if any, and final acceptance and delivery between Buyer and Seller, and at which time, a state of binding Contract shall exist, to perform any of the inspections and investigations set forth below. Seller shall have water, gas, electricity on for Buyer's inspections as identified below. Buyer shall have the right to enter upon the Property, together with a registered professional engineer, licensed architect, home inspector, and/or professional craftsman to conduct the following inspections and investigations as follows: (1) Disclosure/Disclaimer Statement Receipt and Review. (2) Flood, Storm Run Off Water, or Storm Sewer Backup or Water History. (3) Psychologically Impacted Property and Megan's Law. (4) Hazard Insurance (Property insurability) (5) Environmental Risks, including, but not limited to soil, air, hydorcarbon, chemical, carbon, asbestos, mold, radon gas, lead-based paint, and Lead Base Paint Disclosure Receipt and Review. (6) Roof, structural members, roof decking, cover (shingles, slate, tile). (7) Structural Inspection. (8) Home inspection performed by an Oklahoma Licensed Home Inspector. (9) Square Footage. Square footage measurements of a dwelling can vary from a few feet to several hundred feet regardless of the source. (County Assessor's records, appraisal or appraisal measurement report). Buyer shall have the right to satisfy him/herself that the size and/or square footage of the dwelling is acceptable to Buyer. Delivery of Property Inspection Reports and Test Results. Upon receipt by Buyer, Buyer shall deliver to Seller, in care of the Listing Broker, a copy of any and all written inspection reports obtained by the Buyer pertaining to any and all portions of the Property which are subject to Buyer's right of inspections as set forth above. (C) Ten (10) Day Right of Recission/Cancellation and Release of Contract. If Buyer has any objection to the Property based on the results and findings of the inspections, investigations and information described in Paragraph 6A and 6B-1 through 9, Buyer shall have the right and option to cancel and terminate this Contract and receive a refund of earnest money deposit, by delivering written notice stating the Buyer's objections to the Property to Seller, in care of the Listing Broker, within twenty-four (24) hours of the time period specified in Paragraph 6A, in which event this Contract shall be null and void, unless Buyer and Seller otherwise reach a mutual agreement in writing. In such case, the earnest money shall be refunded to Buyer as described in the You Need to Know - GTAR Contract Guide prepared by the Greater Tulsa Association of REALTORS. (D) Buyers failure to Investigate. Regardless of whether Buyer investigates and/or has inspections performed, if Buyer fails to deliver the above written notice to Seller, in care of the Listing Broker, within twenty-four (24) hours of the time period specified in Paragraph 6B, Buyer accepts all portions of the Property which are subject to Buyer's right of inspections in Paragraph 6A and 6B-1 through 9, in the condition or state which existed at the expiration of the time period stated in Paragraph 6(B). (E) Buyers failure to rescind for Insurance Coverage. If Buyer does not exercise Buyer's right of rescission based on inability to obtain acceptable hazard insurance coverage, by delivering written notice to Seller, in care of the Listing Broker, within twenty-four (24) hours of the time period specified in Paragraph 6A, or Buyer fails to obtain a loan based on unavailability of hazard insurance coverage, Buyer shall proceed to Closing, regardless of the unavailability of full hazard insurance coverage, or be subject to the breach and failure to close under the provisions of Paragraph 11. (F) Buyers acceptance of size/square footage of Dwelling. If Buyer does not exercise Buyer's right to cancel the Contract based on the size/square footage of the dwelling, by delivering written notice to Seller, in care of Listing Broker, within twenty-four hours of the time period specified in Paragraph 6B and any subsequent appraisal reflects that size/square footage of the dwelling to be less or more than Buyer understood it to be, Buyer shall proceed to Closing, regardless of such appraisal, or be subject to the breach and failure to close provisions of Paragraph 11. 7. PROPERTY CONDITION: Buyer agrees to accept, subject to Right of Inspection as specified in Paragraph 6 above, and Seller agrees to deliver the property and the improvements thereon in their present condition as at the time of the signing of this Contract, ordinary wear and tear excepted, subject to the following: Real Estate Purchase Contract Page 2 of 5: Buyer Initials Seller Initials
(A) Termite Inspection. Before the date of Closing, Buyer will select a licensed exterminating company to provide Buyer, at Buyer's expense, unless this transaction involves Buyer obtaining a loan and lender requires that Seller shall pay for termite inspection, with a current report reflecting that the residential structure, garage(s), and other buildings which have an attributable value to the Property are free and clear of visible infestation or visible damage caused by termites and other wood destroying insects. In the event the report shows visible infestation or visible damage from termites or other wood destroying insects, Seller agrees, at Seller's expense, to treat and/or repair damage to the satisfaction of Buyer and/or Buyer's exterminating company. If the total cost to Seller to treat and/or make repairs from termite damage or other wood destroying insects damage exceeds an amount equivalent to one and one half (1 1/2%) percent of the purchase price herein, then Seller shall have the option to cancel and terminate this Contract, unless Buyer, or Seller otherwise agree in writing to pay repair costs in excess of such sum. (B) Fixtures, Equipment and Systems Inspections. All fixtures and equipment relating to plumbing, heating and cooling, electrical systems and appliances will be in normal working order at the time of closing. (See Memorandum of Agreement at the Bottom of Page 4). Buyer or Buyer's representative, at Buyers expense, shall have the right to inspect such items, but must report in writing to the Seller, in care of the Listing Broker, any inoperative equipment prior to closing. Seller, at Seller's expense, agrees to turn on, or leave on all utilities, and to authorize servicemen to do so, in order to permit inspections prior to closing by Buyer or Buyer's representative. If the total estimated cost to Seller, of required repairs, exceeds an amount equivalent to one-half of one percent of the purchase price herein, then Seller shall have the option to cancel and terminate this Contract, unless Buyer, or Seller otherwise agree in writing to pay repair costs in excess of such sum. 8. TITLE: The Seller, within a reasonable time from acceptance hereof, shall furnish Buyer, (1) a Uniform Commercial Code Search Certificate and Abstract of Title certified at least to the date of this Contract, and (2) a record check from date of Abstract Certificate to time of closing, showing a marketable title to the property in Seller, free and clear of all liens and encumbrances, except as herein above provided. Title shall be conveyed by Warranty Deed. If there are objections to the title, the Buyer shall specify the objections in writing, and deliver them to Seller, or his agent herein, and the Seller shall have 60 days from notice thereof to correct such defect, unless such time is further extended by agreement in writing. The closing date shall be extended for the time as provided herein. If such valid objections cannot be satisfied within the time specified above, then this Contract shall become null and void and the deposit returned forthwith, unless the Buyer elects to waive said objections. 9. TAXES AND PRORATIONS: The Seller shall pay in full: (A) All special assessments against the property upon the date of closing. (B) All taxes due and payable to the calendar year. (C) All personal property taxes, if any, for the entire calendar year this transaction is closed, and provided such is allowed by Buyers lender, if applicable. Unless otherwise specified in paragraph 5, the following items shall be prorated between Buyer and Seller as of the date of closing: (A) Rents, if any. (B) General Ad Valorem Taxes for the current calendar year, provided that, if the amount of such taxes cannot be determined, such proration shall be on the basis of the taxes paid for the preceding year. 10. CLOSING AND POSSESSION: Subject to the provisions contained herein, this sale is to be closed on or before _, unless time of closing is extended by written agreement. Possession of said property shall be transferred on. Until closing or transfer of possession, risk of loss to the property shall be upon the Seller; after closing or transferred possession, such risk shall be upon the Buyer. Unless otherwise agreed upon in writing, Buyer, by Closing or taking possession of the property, shall be deemed to have accepted the property in its then condition including fixtures, equipment and appliances. No warranties, express or implied by Seller, or Seller's representative, with reference to the condition of the property or any fixtures, equipment or appliances shall be deemed to survive the closing. 11. BREACH OR FAILURE TO CLOSE: If after Seller has performed Seller's obligations under this Contract, and if within five (5) days after the date set forth for closing, the Buyer fails to make the payments as specified herein or to perform any other obligation of the Buyer under this Contract, then the Seller may, at Seller's option, cancel and terminate this Contract and retain all sums paid by the Buyer, but not to exceed 5% of the purchase price as liquidated damages, one half paid/retained by the Broker to apply on his professional services and one half paid to the Seller, or pursue any other legal or equitable remedy for breach of this Contract by the Buyer. If the Buyer performs all of the obligations of the Buyer hereunder and Seller breaches this Contract or fails to perform any of Seller's obligations hereunder, then Buyer shall be entitled either to cancel and terminate this Contract, and receive a refund of the earnest money as described in the You Need to Know - GTAR Contract Guide prepared by the Greater Tulsa Association of REALTORS or pursue any other legal or equitable remedy, at the option of the Buyer. In any such case, if this Contract becomes null and void, and expenses have occurred due to the execution of this Contract, and unless otherwise agreed in writing, the Buyer and Seller hereby agree to pay their respective expenses immediately upon cancellation hereof. 12. BROKER RELATIONSHIP DISCLOSURE AND INFORMATION: Buyer and Seller acknowledge that prior to signing this Contract, they received and read a copy of the You Need to Know - GTAR Contract Guide prepared by the Greater Tulsa Association of REALTORS, which explains: (i) options the Buyer/Seller (II) obligations the Buyer/Seller has; and (iii) relationship of the Broker(s). Buyer and Seller further acknowledge that, prior to signing this Contract, the following disclosures were clearly made to each of them as follows: That the Listing Broker and Selling Broker are acting as Transaction Broker for both Buyer and Seller, unless specifically identified otherwise in the space below. Real Estate Purchase Contract Page 3 of 5: Buyer Initials Seller Initials
13. CLOSING COMPANY: The parties hereto hereby agree that this transaction will be closed by an escrow closing service selected by Buyer or Buyer's lender, if applicable, with the cost thereof split equally by Buyer and Seller, provided however, if this transaction involves Buyer obtaining a loan and lender requirements specify the lender close the transaction or a different division of closing expense, then the parties hereto agree to abide by lender regulations. Buyer and Seller each acknowledge receipt of an estimate of expenses in regard to this transaction. 14. INDEMNIFICATION: It is expressly understood by Seller and Buyer that the Listing Broker or associates and Selling Broker or associates do not warrant the present or future value, size by square footage, condition, structure, or structural systems of the Property or any building, nor do they hold themselves out to be experts in quality, design and construction, and, Seller and Buyer shall hold the Listing Broker or associates and Selling Broker or associates harmless in the event of losses, claims or demands by or against Seller or Buyer. It is also understood that only a registered land surveyor can determine the exact property boundaries. It is recommended, but not a provision of this contract, unless otherwise specified, that Seller provide, or Buyer obtain, a survey from a registered land surveyor. If there is no survey performed in accordance with this transaction, then Buyer shall have deemed to accept responsibility for determination of the exact property boundaries. All provisions contained in this paragraph shall survive the closing. 15. BINDING EFFECT: This is the entire Contract between the parties, when accepted, and neither party shall be bound by any verbal representation altering the terms of this offer and agreement. This Contract can only be amended or modified by a written agreement signed by both Buyer and Seller. The foregoing Contract is made subject to acceptance in writing by Seller from and after the date of the Buyer's signature. If not so accepted, the said deposit is to be returned to the undersigned Buyer. Counter Offers to this Contract, if any, from Seller back to Buyer, or subsequent further counter offers from one party to the other shall be subject to acceptance of the other. In executing this Contract, both Seller and Buyer agree to the terms of the receipt contained below, and Seller additionally agrees to pay the named listing Broker a commission as agreed per the terms of a separate listing or brokerage commission agreement, which shall be extended, if applicable, and endure commensurate with the closing date of this contract, or any extensions thereof. This contract shall be binding upon the heirs, executors, administrators, successors and assigns of the parties hereto. Before this Contract shall be binding and can be enforced by either party, the following acts of disclosure and delivery shall be completed, if applicable: (A) OREC Disclosure/Disclaimer Statement. In accordance with the law of the State of Oklahoma, the Seller has executed a Disclosure Statement or Disclaimer Statement, if applicable. A copy of which must be delivered for Buyer's review and signature prior to "Acceptance" of this Contract. This Contract shall not be binding until the Buyer has been delivered and acknowledged receipt of either the Disclosure Statement or Disclaimer Statement described in Paragraph 6 above, if applicable. (B) Lead-Based Paint (Property built before 1978 ONLY). Buyer acknowledges that prior to signing this offer to purchase, Buyer received the Seller's completed and signed "Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards," and Buyer has received and read a copy of the EPA "Protect Your Family From Lead in Your Home" pamphlet, which explains the hazards of lead-based paint. 16. EXECUTION AND DELIVERY OF CONTRACT, EFFECTIVE DATE The parties agree that the Contract between them shall be evidenced by either a single executed Contract upon which each of them shall place their signatures, or by each of them placing their signatures on separate complete (carbon, photo or fax) copies "counterparts" of the Contract documents. The Contract shall be binding only upon the delivery to each party, or Selling Company and/or Listing Company through their associates involved with this transaction, or either (A) A Contract containing the original signature of both parties or (B) A counterpart containing either the original or a copy of the signature of the other party. The Buyer and Seller by their signatures below authorize their respective Brokers to accept delivery of the contract documents as provided in this Paragraph 16. The "Effective Date" of this Contract will be the Contract acceptance and subsequent delivery to each party, or Selling Company and/or Listing Company through their associates involved with this transaction, or either, of the Contract or Counterpart as set forth above, and shall be evidenced by date in the section on Page 5 titled "Effective Date". For the purpose of determination of Effective Date of Contract, the latest final date as contained in the "Effective Date - Acknowledgment and Receipt of Completed Contract" Section on Page 5 shall be considered the effective date of this Contract, and the day immediately following such date shall be counted as day one in reference to right of recission and property inspections provisions as contained in Paragraph 6. 17. MEDIATION. The Buyer and Seller acknowledge that they have received, read and understand the explanation of the Early Settlement Program contained in the "You Need to Know - GTAR Contract Guide", and agree to submit any claim arising out of a dispute in relation to this Contract to such mediation program. Claims may include, but are not limited to, allegations of concealment, misrepresentation, negligence and/or fraud. Any settlement agreement signed by the parties during or after the mediation conference shall be binding. In the event an agreement is not reached in mediation, the parties are free to pursue other legal remedies. Real Estate Purchase Contract Page 4 of 5: Buyer Initials Seller Initials
Buyer acknowledges receipt of the following: Seller Acknowledges receipt of the following: 1. Seller Disclosure/Disclaimer Initials: 1. Estimate of Sellers Expense Initials: 2. Estimate of Buyer Expense Initials: 2. GTAR Contract Guide Initials: 3. GTAR Contract Guide Initials: APPROVED BY BUYER: APPROVED BY SELLER: Buyer Signature Date Seller Signature Date Buyer Signature Date Seller Signature Date Buyer Current Address: Seller Current Address: RECEIPT: The undersigned Brokers acknowledge receipt of the earnest money referred to in Paragraph 3 and agree to hold it in the Listing Broker's trust or escrow account in accordance with the terms of the above Contract, applicable laws, rules, and regulations governing such funds. The Broker shall be entitled to accept Buyer's personal check for the earnest money and endorse it for deposit without recourse. If Seller does not approve the above Contract, the earnest money shall be returned to Buyer. The Brokers further agree to (1) submit to mediation any claim made upon them by either Buyer or Seller arising from any provision of the Contract and (2) to accept delivery of contract documents on behalf of the party whom they are providing brokerage services. Selling Company: Century 21 Wright Real Estate Listing Company: By: Signature of Broker/Associate By: Signature of Broker/Associate: EFFECTIVE DATE - Acknowledgment and Receipt of Completed Contract: FROM OR IN BEHALF OF BUYER: Buyer, or Selling Company associate hereby acknowledges receipt of final Contract as evidenced by date below. FROM OR IN BEHALF OF SELLER: Seller, or Listing Company associate hereby acknowledges receipt of final Contract as evidenced by date below. Date Received/ Received By (initials) Date Received/ Received By (initials) Property Disclosure Act: does apply and contains one or two dwelling units. does not apply to this transaction because the transfer is pursuant to court order, transfer by mortgagee who has acquired property after default of prior owner obligation, estate sale, newly constructed previously unoccupied dwelling, or property contains less than one or more than two dwelling units. Memorandum of Agreement: If the home being purchased is not a new home, it is understood that the built-in appliances, electrical, plumbing, heating and air-conditioning systems are not expected to be new or like new and that ordinary wear and tear is normal. "In working order" means that the fixture or appliance or component functions for the purpose for which it was intended, that the drains drain, that there are no visible leaks in regard to plumbing or dishwasher, that the heating unit heats and central air-conditioning unit cools. An opinion that a particular component may cease to be in working condition after closing or estimated time period in the future will not require repair by seller. (Note: Supplemental Attachments to this Real Estate Purchase Contract, if any, should be referenced in Section 5) Real Estate Purchase Contract Page 5 of 5 (conres 05/12)
ESTIMATE OF SELLER S EXPENSE Buyers Name: Sellers Name: Property Location: Date Prepared:, 20 Sale Price $_ Filing Fees $ 25 Abstracting/UCC Cert./Gap Check $ 500 Closing Service Fee $ 200 Technology - Transaction Fee $ 175 Revenue Stamps($1.50 per 1000) Proration of Taxes Real Estate Commission Special Repairs per Contract Repairs per Lender Loan Costs Paid by Seller Discount Points Other: Other: Other: EMP Repairs Per Contract: ( $0 to Maximum of 0.5%) Termite Repairs Per Contract: $0 to Maximum of 1.5%) Total Estimated Expenses $_ First Mortgage Payoff Other Mortgage Payoff $_ $_ Estimated Net To Seller $ ========= It is understood that the above is an estimate only, as there is no way that the true and exact expenses can be determined in advance of the actual closing. Mortgage Payoff information is that as provided by Seller, unless otherwise stated. Seller should make immediate request to current Mortgage Holder for written payoff statement. Date Delivered: Seller Seller
ESTIMATE OF BUYER S EXPENSE Buyers Name: Sellers Name: Property Location: Date Prepared:, 20 Sale Price: This Estimate is based upon normal cost of Buyer for the purchase of this property. It does not include cost of Homeowner Insurance, or any Lender cost incurred by Buyer if Buyer is obtaining a loan for the purchase the property. Buyer should obtain an advance Good Faith Estimate of Expenses from Lender of Buyer's choice, and obtain insurance cost and commitment from Insurance Company of Buyer's choice in advance or no later than expiration of Buyer Inspection Review Time Period as stated in the Contract. Sale Price $_ Basic Buyers Expense of Transaction Filing Fees $ 25 Attorney Title Opinion $ 250 Closing Fee - Title Company $ 200 Termite Inspection $ 75 Technology-Transaction Fee $ 175 Other: Other: $_ Estimated Total Amount From Buyer $ ========= It is understood that the above is an estimate only, as there is no way that the true and exact expenses can be determined in advance of the actual closing. Date Delivered: Buyer Buyer
BUYER INFORMATION Buyers Full Name: SS#: Buyer Full Name: SS#: Current Address: Res. Ph# Cell Ph# Email: Buyer Employer: Phone#: Fax#: Co-Buyer Employer: Phone#: Fax#: Other Numbers Where Can Be Reached: Estimated Combined Gross Annual Income (Info.optional) $ Current Housing Status: 9 Current Home Pending Sale 9 Current Home Sold and Closed 9 Currently Renting 9 Current Home For Sale 9 Other: Does Buyer desire to use an independent inspection service to perform property inspections during the Contract Inspection Period: 9Yes 9No 9Will Decide Upon Completed Contract Buyer's Preference for Title Attorney: 9 9 No Preference Buyer's Preference for Closing Service: 9 Cherokee Capital Abstract Closing 9 Tahlequah Abstract Closing 9 Medearis Title 9 Green Country Title 9 Same Company that Updates Abstract 9 Other: 9 No Preference Buyer's Preference for Termite Inspection: 9 9 No Preference Buyer's Preference for Survey:(if applicable) 9 9 No Preference Buyer's Preference for Insurance Co. 9 Additional Buyer Information:
SELLER INFORMATION Sellers Full Name: SS#: Sellers Full Name: SS#: Current Address: Res. Ph# Cell Ph# Email: Seller Employer: Phone#: Fax#: Co-Seller Employer: Phone#: Fax#: Other Numbers Where Seller Can Be Reached: Does Seller Desire to be Referred to another Century 21 Real Estate Firm and Receive Housing Information About Another Area: 9 Yes, Moving to: 9 No, Because: Current Existing Mortgage Information: Lender Name: Lender Address:_ Lender Phone#:_ Loan # Approximate Loan Balance: Current Location of Seller's Abstract: Seller's Preference for Abstractor: 9 Cherokee Capital Abstract 9 Tahlequah Abstract 9 Green Country Abstract 9 Other: 9 No Preference Other Seller Information:
TRANSACTION INFORMATION FOR CLOSING SERVICE Page 1 of 2 Listing Associate to Complete and Deliver This Two Page Form to Closing Service and Advise Closing Service of the Documents and Tasks Required on Page 2, or if Transaction Involves the Sale of Another Agency's Listing, then the Company Associate involved with This Transaction will be Responsible to Insure That all Tasks are Completed. Buyers Name: Sellers Name: Property Location:, SELLING ASSOCIATE: LISTING ASSOCIATE: FILE CHECK LIST OF DOCUMENTS THAT SHOULD BE DELIVERED TO CLOSING SERVICE: THIS WORKSHEET COPY OF PURCHASE CONTRACT ESTIMATED NET TO SELLER ESTIMATE OF BUYERS EXPENSE INFORMATION ON BUYER FORM INFORMATION ON SELLER FORM COPY OF LISTING AGREEMENT COPY OF ESCROW CHECK (NOTE TO CLOSER: PLEASE DO NOT BEGIN PRE-CLOSING PROCESS WITHOUT ALL DOCUMENTS) TYPE OF SALE: CASH OWNER FINANCE SIMPLE ASSUMPTION QUALIFYING ASSUMPTION CCHFA ASSUMPTION NEW FHA NEW VA NEW CONVENTIONAL NEW BANK LOAN OTHER INFORMATION ON SALE: (FILL IN ALL BLANKS, PLACE N/A IF NOT APPLICABLE ON THIS SALE) SALES PRICE: PROPERTY ADDRESS: EARNEST DEPOSIT: CONTRACT CLOSING DATE: TERMS OF OWNER FINANCE, IF APPLICABLE: TITLE EXAMINED BY: ABSTRACTOR: SURVEY: TERMITE INSPECTION BY:_ COMMISSION TO: AMOUNT: TRANSACTION TECHNOLOGY FEE - CENTURY 21 WRIGHT REAL ESTATE: $175 (Except if Price under $25K) WATER METER TRANSFER WITH: METER #: SEPTIC INSPECTION: ESCROW ASSIGNED: INSURANCE ASSIGNED: HEAT AND AIR INSPECTION BY: OTHER:_ OTHER:_ SPECIAL COMMENTS:
TRANSACTION INFORMATION FOR CLOSING COMPANY Page 2 of 2 LISTING ASSOCIATE RESPONSIBILITIES: CLOSELY MONITORING PENDING TRANSACTION ON A DAILY BASIS UNTIL CLOSING. PROVIDING CLOSING COMPANY WITH THIS CLOSING INFORMATION FORM AND DOCUMENTS SUBMITTING EARNEST DEPOSIT CHECK TO BOOKKEEPER WITHIN 1 DAY OF EFFECTIVE CONTRACT. SUBMITTING PENDING LISTING/CONTRACT INFORMATION TO LISTING PROCESSOR PROVIDING CLOSER WITH COMPLETED CONTRACT SUBMITTING SELLER INFORMATION TO CLOSER PREPARATION OF NET TO SELLER AND SUBMITTING TO CLOSER OBTAINING COPY OF THE SELLERS DEED OR EXACT LEGAL DESCRIPTION SUBMITTING COPY OF LISTING AGREEMENT TO CLOSER PROVIDING CLOSER WITH A COPY OF EARNEST DEPOSIT CHECK OBTAINING BUYER INFORMATION FORM FROM SELLING ASSOCIATE & DELIVERY TO CLOSER OBTAINING BUYER ESTIMATES EXPENSES FROM SELLING ASSOCIATE & DELIVERY TO CLOSER OBTAIN & DELIVER COPIES OF SETTLEMENT STATEMENTS AT LEAST 1 DAY BEFORE CLOSING DELIVERY OF COMPLETED CLOSED FILE AND CLOSE SALE REPORTS TO BOOKKEEPING SIGN PICKUP IF TRANSACTION INVOLVES A CONTRACT WITH ANOTHER REAL ESTATE FIRM, THEN COMPANY ASSOCIATE INVOLVED WITH THE TRANSACTION SHALL BE RESPONSIBLE FOR COORDINATION OF ALL ITEMS ABOVE. SELLING ASSOCIATE RESPONSIBILITIES: PREPARATION OF FULLY COMPLETED CONTRACT WITH ESTABLISHMENT OF EFFECTIVE DATE OBTAINING BUYER SIGNATURE ON DISCLOSURE FORM PRIOR TO BUYER SIGNING CONTRACT DELIVERY OF BUYER EARNEST DEPOSIT CHECK TO LISTING ASSOCIATE FOR DEPOSIT TO ESCROW PREPARATION OF BUYERS ESTIMATED EXPENSE & DELIVERY TO LISTING ASSOCIATE FOR CLOSER COMPLETION OF BUYER INFORMATION FORM & DELIVERY TO SELLING ASSOC. FOR CLOSER NOTIFICATION TO LISTING ASSOCIATE OF BUYER LOAN APPROVAL. ORIGINATE CONTRACT CLOSING EXTENSION TO KEEP CONTRACT CURRENT COORDINATING BUYER INSPECTIONS AND BUYER S EXECUTION OF FINAL INSPECTION FORM. DELIVERY OF SETTLEMENT STATEMENT TO BUYER AT LEAST 1 DAY BEFORE CLOSING OBTAINING AND DELIVERY OF BUYER EARNEST DEPOSIT CHECK TO CLOSER. INSURING THAT CLOSER OBTAINS BUYER SIGNATURE ON CLOSING RELEASE FORM CLOSING SERVICE RESPONSIBILITIES Closing Service Should Fax a Copy of Buyer and Seller Settlement Statements to Listing Associate and Selling Associate at Least 24 Hours in Advance of Closing so that Associates can Review and Forward to Buyer and Seller in Advance of Closing. Additionally, Closing Service Should Insure That All Known Final Agreements or Details of Transaction are Completely Resolved Prior to Closing. "We Will Work it Out at Closing" will not be Acceptable regarding any Closing Involving Century 21 Wright Real Estate. If there is Need for Repairs, or the Seller, or Buyer, is Responsible for any Actions After Closing, Closing Service Will Insure that a Proper Written Escrow Agreement or Document is Executed by All Parties. Additionally, Closing Service is Responsible For the Following: OBTAIN AND REVIEW COMPLETE FILE FROM LISTING ASSOCIATE ORDER SERVICES TO BE PERFORMED KEEP LISTING ASSOCIATE AND SELLING ASSOCIATE AWARE OF CURRENT PROCESSING COORDINATE CLOSING TIME WITH BUYER, SELLER, AND ASSOCIATES ORIGINATE CLOSING DOCUMENTS ADVISE LISTING ASSOCIATE IF CLOSING DATE CANNOT BE MET OBTAIN EXECUTION OF ALL CLOSING DOCUMENTS AND FILE SAME MAINTAINING A PHOTOCOPY OF ALL DOCUMENTS & FILING OF ALL REQUIRED TAX REPORTING DOCUMENTS OBTAINING AN ABSTRACT RECEIPT. THE CLOSING SERVICE SHOULD PROVIDE CENTURY 21 WRIGHT REAL ESTATE WITH THE FOLLOWING DOCUMENTS AT TIME OF CLOSING FOR PERMANENT RECORD FILES AS REQUIRED BY THE OKLAHOMA REAL ESTATE COMMISSION. G Photocopy of Warranty Deed G Survey, If Applicable to this Transaction G Buyers Settlement Statement G Closing Acknowledgment and Release Signed by Buyer G Sellers Settlement Statement G Commission Check G Transaction Fee as reflected on Seller Estimate.
CONTRACT INSTRUCTIONS: (Please Carefully Read) ALL Pages that Printed with this Contract Must be Kept Together and Forwarded to Listing Associate with This Offer. DO NOT DISCARD ANY DOCUMENTS THAT PRINT WITH THIS CONTRACT... ALL SELLER FORMS SHOULD BE FORWARDED TO LISTING ASSOCIATE WITH BUYER'S OFFER TO PURCHASE PRESENT CONTRACT FOR BROKER REVIEW. Forward or Fax This Sheet with a copy of this Contract for Broker Review to Scott or Tommye AND Call 456-5288 and Leave Message that a Offer to Purchase has been originated for Broker Review. TRANSACTION FEE: A Transaction Fee applies to all transactions in which the sale price is above $25,000. In such case the Seller objects to the Transaction fee, the Listing Associate has the authority to waive such fee, and must strike the fee and obtain seller initials on the Estimate to Seller, or the Listing Associate shall be responsible payment of the Transaction fee from the Listing Side Commission. Associates involved with this Offer to Purchase and Contract hereby confirm the following procedures: 1. Buyer and Seller Estimates must be signed with a duplicate copy held in the Office Pending File providing evidence that the Estimates were given. 2. The Buyer MUST be delivered and Must sign receipt of a copy of Seller Disclosure that is less than 180 days old, if applicable to this transaction, before Buyer signs Contract. 3. The Contract Guidelines and Approved Contract Terms as contained in the Company Policy and Procedures Manual must be used in drafting this Contract. 4. If Acreage, the amount of acreage followed by a "M/L" must be used. 5. All persons owning an interest in the property must be identified and must sign the Contract as Sellers. 6. Possession has been stated in relation to the Day of Closing and does not state a specific date. 7. The Contract may not be altered after all final signatures have been obtained and the effective date established. 8. The Effective Date section of the Contract must be fully completed for the Contract to become effective and the Seller and Buyer must be given an advance copy and final signed contract after fully completed effective Contract is achieved.