This offer summary worksheet must be filled out completely and be presented with all offers! Electronic signatures are not accepted by the seller. Offers MUST be submitted as 1 PDF with ALL required documentation. Do not submit and offer unless it is complete. TIF and JPEG offers are not accepted. Property Address: Buyer(s): Person Signing if Investment Purchase: Is the buyer a Realtor or hold a Real Estate license? YES NO Correct name for taking title (No changes) Buyers Address: Contact Number: Selling Broker Company: Selling Agents Name: Contact Number: Fax Number: Email Address: Office Address: Agent ID & Office ID: Lender Company/Bank Name: Contact Person: Contact Number: Fax Number: Email Address: Owner will occupy property? Yes No If yes, an owner occupant form must be included in offer. This form is included in the supplements package. Earnest Money $ Close Date: (TBD or 30 days from acceptance is not acceptable) Purchase Price $ List Price $ Down Payment % Seller Paid Closing Costs $ (%) Please fill in both the $ amount and % amount. Dollar amount and % must equal. This is a seller requirement.
OWNER OCCUPANT OFFERS ONLY Buyer interested in $500 allowance toward the buyer s purchase of a home warranty of their choice Buyer is NOT interested in $500 allowance toward the buyer s purchase of a home warranty of their choice Mortgage Type: Conv FHA FHA203K DVA Cash Pre-approval letter attached: Proof of funds attached: YES NO YES NO *Proof of funds must have the purchasers name on the documents professionally; we cannot accept receipts or hand written names on bank statements. Please have your clients go to the bank and get a professional printout if necessary. PLEASE NOTE: Your offer cannot be submitted without proper loan/funds verification at time of offer submission Articles of Incorp/Sec. of State Cert.: YES NO *Documentation must include a document showing the signers name as a registered member of the company. We must have documentation showing the buyer can legally sign for the company. Does the property have an HOA? YES NO Offer subject to an inspection? YES NO Requesting H20 on for inspection? YES NO PLEASE NOTE! Water will not be turned on to some properties due to the condition of the home. These are mandatory questions from the seller that must be answered in order to submit your offer: First Time Buyer? YES NO Is the Buyer a Freddie Mac/Homesteps Employee? YES NO Is the Buyer a Freddie Mac Supplier of Relative? YES NO Is the Buyer a previous mortgagor or relative? YES NO
Purchase Agreement Packet and Instructions READ CAREFULLY The purpose of this instruction page is to point out significant parts of the contract. This instruction page is provided by the listing agent to assist you in completing the offer and is not a part of the purchase agreement. PLEASE PAY CAREFUL ATTENTION TO THE FOLLOWING ITEMS: Earnest Money: Earnest money MUST be in the form of a cashier s check; however, before an offer is accepted by the seller, a copy of the buyer s personal check for the earnest money amount will be accepted. Once the offer is accepted, we must have the cashier s check in our office within 24 hours. Please read the Purchase Agreement carefully. ** DO NOT submit an offer unless you are sure the buyer(s) is qualified and can perform** NO Contingent Offers: No offers contingent upon the sale of another property will be considered. Personal Property: Because the seller acquired this property through a foreclosure they do not own any of the personal property (stove, refrigerator, water softener, etc) Therefore, personal property cannot be included in the Purchase Agreement but could be left on the premises. Cash and Conventional Offers: Verification of funds must accompany the offer (ie: a copy of bank statement or have your banker provide a letter stating the buyer has sufficient funds on deposit to close). Finance Offers: Pre-approval letter must accompany the offer. It MUST specifically state the following: 1. Loan officer has reviewed the buyer credit report. 2. Loan officer has completed a review of bank statements for fund verification. 3. Loan officer has completed a review of recent pay stubs for YTD income verification. 4. The loan amount. 5. If the down payment is a gift, that the funds have been verified and include a gift letter. 6. THE LOAN IS NOT SUBJECT TO THE SALE OR CLOSING OF ANY OTHER REAL ESTATE. Title and Closing: Seller works closely with certain escrow companies, title companies, title agents, title attorneys and other closing agents. They are familiar with Seller s forms, documents, procedures and closing requirements. By using such entities, Seller believes it is generally able to achieve closings quickly and efficiently. While Buyer will not be required to use any title insurer or closing agent chosen by Seller, Seller may limit or condition its agreement to pay title insurance and closing related costs and charged by a title insurer or closing agent chosen by Buyer, including, but not limited to, fees for commitment, abstracting and examination, and title insurance premiums (owner s and lender s). Possession: Keys available will be given to the buyer at closing allowing access to the property. Seller will not provide any other keys, garage door openers, mail box keys, security keys, or other items not specified in the agreement. Buyers should change locks since the current key code is used in many other foreclosed properties. At NO time shall possession be given for any reason prior to a successful closing. Title: Title to this property will be conveyed by means of a: Limited or Special Warranty Deed. No Warranties or Representation AS IS Sale: The owner has no knowledge of the condition of this property. The buyer must rely solely upon personal inspection with respect to the current condition of this property. This property is being sold AS IS. What you see is what you get! The owner will make no warranties. Both Buyer and Seller must agree to any repairs IN WRITING.
No Assignments: Buyer may not assign the Purchase Agreement. The name of the purchaser stated on the Purchase Agreement MUST be the person taking title. Time is of the Essence: This must close on time or Buyer will pay a per diem charge. Read section 18 carefully. Presentation of Offers: The seller requires offers be presented by the listing agent only. Fax or Email your offer to: NUMBER IN AGENT REMARKS IN MLS. BE SURE TO INCLUDE A COPY OF THE EARNEST MONEY CASHIER S CHECK AND A FAX COVER SHEET WITH SELLING AGENT CONTACT INFORMATION. (See paragraph of instruction page for information regarding Earnest Money requirements) I will present your offer as soon as possible (8:00am to 4:00pm Monday through Friday). Counteroffers will be delivered verbally, faxed or emailed. When buyer and seller have come to an agreement, deliver the original final executed Purchase Agreement along with Earnest Money and any Addenda to the Listing Agent. This property will continue to be shown and additional offers considered until all parties have signed the Purchase Agreement. Please inform your buyers that response time can vary from 2 to 14 days or more. The seller is a bank or corporation. Committees must meet to consider the offer. Therefore, it may require some time for a response. In addition, other offers may be submitted during this period. FOR FURTHER INFORMATION PLEASE CONTACT THE LISTING AGENT SEE AGENT REMARKS IN MLS TO SUBMIT OFFERS Any discrepancies between the attached PA and the Seller Addendum s, Seller Addendums will supersede the State PA. This page must be signed and returned with the Purchase Agreement. By doing so, you, the selling agent, agree that you and your buyer(s) have read and understand this Purchase Agreement. Agent and Seller Signatures: Agent: Date: Buyer(s): Date: Buyer(s): Date:
REAL ESTATE DISCLOSURE ADDENDUM AND RELEASE Buyer(s) and Buyer(s) Agent acknowledge that they are aware that due to possible water damage and/or excessive moisture, mold, mildew and/or other microscopic organisms may be present within the subject property. Buyer(s) and Buyer(s) Agent are aware that exposure to certain species of mold may pose serious health risks, particularly in individuals with immune system deficiencies, allergies or respiratory problems, and young children and elderly persons. To the best of Seller s knowledge, no tests have been performed and no investigation undertaken in connection with mold, fungal spores, or any other microscopic organisms that may be present within the subject property. Buyer(s) and Buyer(s) Agent acknowledge the property is being sold and conveyed AS IS. Buyer(s) and Buyer(s) Agent further acknowledge that under the terms of the Contract of Sale, Buyer(s) have had, or will have had, prior to closing, full and timely opportunity to make a complete inspection of the subject property, including any environmental inspection or investigation of the subject property. Buyer(s) and Buyer(s) Agent agree that the purchase price of the property reflects the agreed upon value of the property AS IS, including the aforementioned disclosures. Seller has not made and does not make any express or implied representation or warranty of any kind with respect to the environmental law, code or standard. Buyer(s) and Buyer(s) Agent hereby agree not to pursue any claim against Seller or its Agents for any violation of any suck laws, codes, standards, or for cost incurred in conducting investigations pursuant to such laws, codes, or standards. In addition, Buyer(s) and Buyer(s) Agent agree to fully and forever release, discharge and hold harmless Seller, its agents, employees, contractors, and representatives from and against any claims, damages, losses, costs or expenses of any kind sustained or arising directly or indirectly from or in connection with any known or unknown condition of the subject property. Buyer Date Buyer Date Buyer Agent Date
3. RECEIVED OF 4. PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORS, which disclaims any liability arising out of use or misuse of this form. 2011 Minnesota Association of REALTORS, Edina, MN 1. Date 2. Page 1 of 5. the sum of Dollars ($ ) 6. by CHECK CASH NOTE as earnest money to be deposited upon Final Acceptance of Purchase ------------------------(Check one.)------------------------ 7. Agreement by all parties, on or before the third Business Day after Final Acceptance, in the trust account of listing 8. broker, unless otherwise agreed to in writing, but to be returned to Buyer if Purchase Agreement is not accepted 9. by Seller. 10. Said earnest money is part payment for the purchase of the property located at 11. Street Address: 12. City of, County of, 13. State of Minnesota, legally described as 14. 15. 16. 17. including all fixtures on the following property, if any, owned by Seller and used and located on said property, 18. including but not limited to garden bulbs, plants, shrubs and trees; storm sash, storm doors, screens and awnings; 19. window shades, blinds, traverse and curtain and drapery rods; attached lighting fixtures and bulbs; plumbing 20. fixtures, water heater, heating plants (with any burners, non-fuel tanks, stokers and other equipment used in connection 21. therewith), built-in air-conditioning equipment, electronic air filter, water softener OWNED RENTED NONE, -------------------------(Check one.)------------------------- 22. built-in humidifier and dehumidifier, liquid fuel tank(s) OWNED RENTED NONE and controls (if the ----------------------------(Check one.)---------------------------- 23. property of Seller), sump pump; attached television antenna, cable TV jacks and wiring; BUILT-INS: dishwashers, 24. garbage disposals, trash compactors, ovens, cook-top stoves, microwave ovens, hood fans, intercoms; 25. ATTACHED: carpeting; mirrors; garage door openers and all controls; smoke detectors; fireplace screens, doors and 26. heatilators; AND the following personal property: Nonexxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 27. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 28. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx 29. xxxxxx 30. all of which property Seller has this day agreed to sell to Buyer for sum of ($ ) 31. Dollars, 32. which Buyer agrees to pay in the following manner: 33. 1. Cash of percent (%) of the sale price, or more in Buyer s sole discretion, which includes the earnest 34. money; PLUS 35. 2. Financing of percent (%) of the sale price, which will be the total amount secured against this property 36. to fund this purchase. 37. Such financing shall be (check one) a first mortgage; a contract for deed; or a first mortgage with 38. subordinate financing, as described in the attached Addendum: 39. Conventional FHA DVA Assumption Contract for Deed Other:. -----------------------------------------------------------------------------------------------------(Check one.)------------------------------------------------------------------------------------------------ 40. The date of closing shall be, 20. MN:PA-1 (8/11)
41. Page 2 Date PURCHASE AGREEMENT 42. Property located at. 43. This Purchase Agreement IS IS NOT subject to a Contingency Addendum for sale of Buyer s property. -------(Check one.)------- 44. (If answer is IS, see attached Addendum.) 45. (If answer is IS NOT, the closing of Buyer s property, if any, may still affect Buyer s ability to obtain financing, if financing 46. is applicable.) 47. This Purchase Agreement IS IS NOT subject to cancellation of a previously written purchase agreement -------(Check one.)------- 48. dated, 20. 49. (If answer is IS, said cancellation shall be obtained no later than, 20. If 50. said cancellation is not obtained by said date, this Purchase Agreement is canceled. Buyer and Seller shall immediately 51. sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid 52. hereunder to be refunded to Buyer.) 53. Buyer has been made aware of the availability of property inspections. Buyer Elects Declines to have a -------------(Check one.)------------- 54. property inspection performed at Buyer s expense. 55. This Purchase Agreement IS IS NOT subject to an Inspection Contingency Addendum. -------(Check one.)------- 56. (If answer is IS, see attached Addendum.) 57. DEED/MARKETABLE TITLE: Upon performance by Buyer, Seller shall deliver a 58. Warranty Deed or Other: Limited Warranty Deed joined in by spouse, if any, conveying -------------------------------------------------------------(Check one.)----------------------------------------------------------------- 59. marketable title, subject to 60. (a) building and zoning laws, ordinances, and state and federal regulations; 61. (b) restrictions relating to use or improvement of the property without effective forfeiture provisions; 62. (c) reservation of any mineral rights by the State of Minnesota; 63. (d) utility and drainage easements which do not interfere with existing improvements; 64. (e) rights of tenants as follows (unless specified, not subject to tenancies): 65. ; and 66. (f) others (must be specified in writing): 67. 68. Seller shall pay on the date of closing all real estate taxes due and payable in all prior years including all penalties and 69. interest. 70. BUYER SHALL PAY SELLER SHALL PAY on date of closing any deferred real estate taxes (e.g., Green ------------------------------------(Check one.)----------------------------------------- 71. Acres) or special assessments, payment of which is required as a result of the closing of this sale. 72. BUYER AND SELLER SHALL PRORATE AS OF THE DATE OF CLOSING SELLER SHALL PAY ON --------------------------------------------------------------------------------------------------------(Check one.)-------------------------------------------------------------------------------------------------- 73. DATE OF CLOSING all installments of special assessments certified for payment, with the real estate taxes due and 74. payable in the year of closing. 75. BUYER SHALL ASSUME.SELLER SHALL PAY on date of closing all other special assessments levied as -------------------------------------------(Check one.)---------------------------------------------- 76. of the date of this Purchase Agreement. 77. BUYER SHALL ASSUME SELLER SHALL PROVIDE FOR PAYMENT OF special assessments pending as -----------------------------------------------------------------------(Check one.)------------------------------------------------------------------- 78. of the date of this Purchase Agreement for improvements that have been ordered by any assessing authorities. (Seller s 79. provision for payment shall be by payment into escrow of two (2) times the estimated amount of the assessments or 80. less, as required by Buyer s lender.) MN:PA-2 (8/11)
81. Page 3 Date PURCHASE AGREEMENT 82. Property located at. 83. Buyer shall pay any unpaid special assessments payable in the year following closing and thereafter, the payment of 84. which is not otherwise herein provided. 85. As of the date of this Purchase Agreement, Seller represents that Seller HAS HAS NOT received a notice ------------(Check one.)------------ 86. regarding any new improvement project from any assessing authorities, the costs of which project may be assessed 87. against the property. Any such notice received by Seller after the date of this Purchase Agreement and before closing 88. shall be provided to Buyer immediately. If such notice is issued after the date of this Purchase Agreement and on 89. or before the date of closing, then the parties may agree in writing, on or before the date of closing, to pay, provide 90. for the payment of or assume the special assessments. In the absence of such agreement, either party may declare 91. this Purchase Agreement canceled by written notice to the other party, or licensee representing or assisting the other 92. party, in which case this Purchase Agreement is canceled. If either party declares this Purchase Agreement canceled, 93. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and 94. directing all earnest money paid hereunder to be refunded to Buyer. 95. Buyer shall pay PRORATED FROM DAY OF CLOSING 12ths OF ALL NO real estate taxes due ---------------------------------------------------------------(Check one.)----------------------------------------------------------------------- 96. and payable in the year 20 12. 97. Seller shall pay PRORATED TO DAY OF CLOSING 12ths OF ALL NO real estate taxes due and -----------------------------------------------------------(Check one.)------------------------------------------------------------------ 98. payable in the year 20 12. If the closing date is changed, the real estate taxes paid shall, if prorated, be adjusted 99. to the new closing date. Seller warrants taxes due and payable in the year 20 12 shall be FULL- PART- NON- -----------------(Check one.)------------------ 100. homestead classification. 101. If part- or non-homestead classification is checked, Seller agrees to pay Buyer at closing $.00 102. toward the non-homestead real estate taxes. Buyer agrees to pay any remaining balance of non-homestead taxes 103. when they become due and payable. Buyer shall pay real estate taxes due and payable in the year following closing 104. and thereafter, the payment of which is not otherwise herein provided. No representations are made concerning the 105. amount of subsequent real estate taxes. 106. POSSESSION: Seller shall deliver possession of the property no later than Final Funding after closing. 107. Seller agrees to remove ALL DEBRIS AND ALL PERSONAL PROPERTY NOT INCLUDED HEREIN from the property 108. by possession date. 109. PRORATIONS: All interest; unit owners association dues; rents; and charges for city water, city sewer, electricity and 110. natural gas shall be prorated between the parties as of date of closing. Buyer shall pay Seller for remaining gallons of 111. fuel oil or liquid petroleum gas on the day of closing, at the rate of the last fill by Seller. 112. TITLE AND EXAMINATION: As quickly as reasonably possible after Final Acceptance of this Purchase Agreement: 113. (a) Seller shall surrender any abstract of title and a copy of any owner s title insurance policy for the property, if 114. in Seller s possession or control, to Buyer or Buyer s designated title service provider; and 115. (b) Buyer shall obtain the title services determined necessary or desirable by Buyer or Buyer s lender, including 116. but not limited to title searches, title examinations, abstracting, a title insurance commitment or an attorney s 117. title opinion at Buyer s selection and cost and provide a copy to Seller. 118. Seller shall use Seller s best efforts to provide marketable title by the date of closing. Seller agrees to pay all costs 119. and fees necessary to convey marketable title including obtaining and recording all required documents, subject to the 120. following: 121. In the event Seller has not provided marketable title by the date of closing, Seller shall have an additional 30 days to 122. make title marketable, or in the alternative, Buyer may waive title defects by written notice to Seller. In addition to 123. the 30-day extension, Buyer and Seller may, by mutual agreement, further extend the closing date. Lacking such 124. extension, either party may declare this Purchase Agreement canceled by written notice to the other party, or 125. licensee representing or assisting the other party, in which case this Purchase Agreement is canceled. If either 126. party declares this Purchase Agreement canceled, Buyer and Seller shall immediately sign a Cancellation of 127. Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder to be refunded 128. to Buyer. MN:PA-3 (8/11)
129. Page 4 Date PURCHASE AGREEMENT 130. Property located at. 131. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned by Seller, Seller shall pay 132. all subdivision expenses and obtain all necessary governmental approvals. Seller warrants that the legal description 133. of the real property to be conveyed has been or shall be approved for recording as of the date of closing. Seller warrants 134. that the buildings are or shall be constructed entirely within the boundary lines of the property. Seller warrants that 135. there is a right of access to the property from a public right-of-way. These warranties shall survive the delivery of the 136. deed or contract for deed. 137. MECHANIC S LIENS: Seller warrants that prior to the closing, payment in full will have been made for all labor, materials, 138. machinery, fixtures or tools furnished within the 120 days immediately preceding the closing in connection with 139. construction, alteration or repair of any structure on, or improvement to, the property. 140. NOTICES: Seller warrants that Seller has not received any notice from any governmental authority as to condemnation 141. proceedings, or violation of any law, ordinance or regulation. If the property is subject to restrictive covenants, Seller 142. warrants that Seller has not received any notice from any person or authority as to a breach of the covenants. Any 143. such notices received by Seller shall be provided to Buyer immediately. 144. DIMENSIONS: Buyer acknowledges any dimensions, square footage or acreage of land or improvements provided 145. by Seller or broker may be approximate. Some information may have been provided by third parties and information 146. may be reliable but not guaranteed. Buyer shall verify the accuracy of information to Buyer s satisfaction, if material, 147. at Buyer s sole cost and expense. 148. ACCESS: Seller agrees to allow reasonable access to the property for performance of any surveys or inspections 149. agreed to herein. 150. RISK OF LOSS: If there is any loss or damage to the property between the date hereof and the date of closing for any 151. reason, including fire, vandalism, flood, earthquake or act of God, the risk of loss shall be on Seller. If the property 152. is destroyed or substantially damaged before the closing date, this Purchase Agreement is canceled, at Buyer s option, 153. by written notice to Seller or licensee representing or assisting Seller. If Buyer cancels this Purchase Agreement, 154. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and 155. directing all earnest money paid hereunder to be refunded to Buyer. 156. TIME OF ESSENCE: Time is of the essence in this Purchase Agreement. 157. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda or amendments signed 158. by the parties shall constitute the entire agreement between Seller and Buyer and supersedes any other written or 159. oral agreements between Seller and Buyer. This Purchase Agreement can be modified or canceled only in writing 160. signed by Seller and Buyer or by operation of law. The parties agree the electronic signature of any party on any document 161. related to this transaction constitute valid, binding signatures. All monetary sums are deemed to be United States 162. currency for purposes of this Purchase Agreement. Buyer or Seller may be required to pay certain closing costs, which 163. may effectively increase the cash outlay at closing or reduce the proceeds from the sale. 164. FINAL ACCEPTANCE: To be binding, this Purchase Agreement must be fully executed by both parties and a copy 165. must be delivered. 166. CALCULATION OF DAYS: Any calculation of days begins on the first day (calendar or Business Days as specified) 167. following the occurrence of the event specified and includes subsequent days (calendar or Business Days as specified) 168. ending at 11:59 P.M. on the last day. 169. BUSINESS DAYS: Business Days are days which are not Saturdays, Sundays or state or federal holidays unless 170. stated elsewhere by the parties in writing. 171. DEFAULT: If Buyer defaults in any of the agreements hereunder, Seller may terminate this Purchase Agreement 172. under the provisions of MN Statute 559.21. If either Buyer or Seller defaults in any of the agreements hereunder or 173. there exists an unfulfilled condition after the date specified for fulfillment, either party may cancel this Purchase 174. Agreement under MN Statute 559.217, Subd. 3. Whenever it is provided herein that this Purchase Agreement is 175. canceled, said language shall be deemed a provision authorizing a Declaratory Cancellation under MN Statute 559.217, 176. Subd. 4. 177. If this Purchase Agreement is not canceled or terminated as provided hereunder, Buyer or Seller may seek actual 178. damages for breach of this Purchase Agreement or specific performance of this Purchase Agreement; and, as to 179. specific performance, such action must be commenced within six (6) months after such right of action arises. MN:PA-4 (8/11)
180. Page 5 Date PURCHASE AGREEMENT 181. Property located at. 182. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory offender 183. registry and persons registered with the predatory offender registry under MN Statute 243.166 may be obtained 184. by contacting the local law enforcement offices in the community where the property is located or the Minnesota 185. Department of Corrections at (651) 361-7200, or from the Department of Corrections web site at 186. www.corr.state.mn.us. 187. HOME PROTECTION/WARRANTY PLAN: Buyer and Seller are advised to investigate the various home protection/ 188. warranty plans available for purchase. Different home protection/warranty plans have different coverage options, 189. exclusions, limitations and service fees. Most plans exclude pre-existing conditions. (Check one.) 190. A Home Protection/Warranty Plan will be obtained and paid by BUYER SELLER to be issued by ---------------(Check one.)--------------- 191. at a cost not to exceed $. 192. There will be no Home Protection/Warranty Plan as part of this Agreement. 193. ENVIRONMENTAL CONCERNS: To the best of Seller s knowledge, there are no hazardous substances or underground 194. storage tanks except herein noted: 195. 196. 197. 198. 199. 200. (Check appropriate boxes.) 201. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR INDIRECTLY CONNECTED TO: 202. CITY SEWER YES NO / CITY WATER YES NO 203. SUBSURFACE SEWAGE TREATMENT SYSTEM 204. SELLER CERTIFIES THAT SELLER DOES DOES NOT KNOW OF A SUBSURFACE SEWAGE TREATMENT --------------(Check one.)--------------- 205. SYSTEM ON OR SERVING THE PROPERTY. (If answer is DOES, and the system does not require a state permit, 206. see Subsurface Sewage Treatment System Disclosure Statement.) 207. PRIVATE WELL 208. SELLER CERTIFIES THAT SELLER DOES DOES NOT KNOW OF A WELL ON OR SERVING THE ----------------(Check one.)---------------- 209. PROPERTY. (If answer is DOES and well is located on the property, see Well Disclosure Statement.) 210. THIS PURCHASE AGREEMENT IS IS NOT SUBJECT TO A SUBSURFACE SEWAGE TREATMENT SYSTEM ---------(Check one.)---------- 211. AND WELL INSPECTION CONTINGENCY ADDENDUM. (If answer is IS, see attached Addendum.) 212. IF A WELL OR SUBSURFACE SEWAGE TREATMENT SYSTEM EXISTS ON THE PROPERTY, BUYER HAS 213. RECEIVED A WELL DISCLOSURE STATEMENT AND/OR A SUBSURFACE SEWAGE TREATMENT SYSTEM 214. DISCLOSURE STATEMENT. MN:PA-5 (8/11)
215. Page 6 Date PURCHASE AGREEMENT 216. Property located at. 217. SELLER WARRANTS THAT CENTRAL AIR-CONDITIONING, HEATING, PLUMBING AND WIRING SYSTEMS USED 218. AND LOCATED ON SAID PROPERTY SHALL BE IN WORKING ORDER ON DATE OF CLOSING, EXCEPT AS 219. NOTED IN THIS PURCHASE AGREEMENT. 220. BUYER HAS THE RIGHT TO A WALK-THROUGH REVIEW OF THE PROPERTY PRIOR TO CLOSING TO 221. ESTABLISH THAT THE PROPERTY IS IN SUBSTANTIALLY THE SAME CONDITION AS OF THE DATE OF 222. THIS PURCHASE AGREEMENT. 223. BUYER HAS HAS NOT RECEIVED A SELLER S PROPERTY DISCLOSURE STATEMENT OR A ----------------(Check one.)---------------- 224. SELLER S DISCLOSURE ALTERNATIVES FORM. 225. BUYER HAS RECEIVED THE INSPECTION REPORTS, IF REQUIRED BY MUNICIPALITY. 226. SELLER AGREES TO NOTIFY BUYER IMMEDIATELY IN WRITING OF ANY SUBSTANTIVE CHANGES FROM 227. ANY PRIOR REPRESENTATIONS REGARDING THE PROPERTY. 228. BUYER ACKNOWLEDGES THAT NO ORAL REPRESENTATIONS HAVE BEEN MADE REGARDING POSSIBLE 229. PROBLEMS OF WATER IN BASEMENT OR DAMAGE CAUSED BY WATER ICE OR ICE BUILDUP ON ROOF OF 230. THE PROPERTY. 231. NOTICE 232. Corey McCracken is Seller s Agent Buyer s Agent Dual Agent Facilitator. (Licensee) ------------------------------------------------------(Check one.)------------------------------------------------------- 233. Prodigy Real Estate (Real Estate Company Name) 234. is Seller s Agent Buyer s Agent Dual Agent Facilitator. (Licensee) ------------------------------------------------------(Check one.)------------------------------------------------------- 235. (Real Estate Company Name) 236. THIS NOTICE DOES NOT SATISFY MINNESOTA STATUTORY AGENCY DISCLOSURE REQUIREMENTS. 237. DUAL AGENCY REPRESENTATION 238. PLEASE CHECK ONE OF THE FOLLOWING SELECTIONS: 239. Dual Agency representation DOES NOT apply in this transaction. Do not complete lines 240 256. 240. Dual Agency representation DOES apply in this transaction. Complete the disclosure in lines 241 256. 241. Broker represents both the Seller(s) and the Buyer(s) of the property involved in this transaction, which creates a 242. dual agency. This means that Broker and its salespersons owe fiduciary duties to both Seller(s) and Buyer(s). Because 243. the parties may have conflicting interests, Broker and its salespersons are prohibited from advocating exclusively for 244. either party. Broker cannot act as a dual agent in this transaction without the consent of both Seller(s) and Buyer(s). 245. Seller(s) and Buyer(s) acknowledge that 246. (1) confidential information communicated to Broker which regards price, terms, or motivation to buy or sell will 247. remain confidential unless Seller(s) or Buyer(s) instructs Broker in writing to disclose this information. Other 248. information will be shared; 249. (2) Broker and its salespersons will not represent the interest of either party to the detriment of the other; and 250. (3) within the limits of dual agency, Broker and its salespersons will work diligently to facilitate the mechanics of 251. the sale. 252. With the knowledge and understanding of the explanation above, Seller(s) and Buyer(s) authorize and instruct Broker 253. and its salesperson to act as dual agents in this transaction. 254. Seller Buyer 255. Seller Buyer 256. Date Date MN:PA-6 (8/11)
257. Page 7 Date PURCHASE AGREEMENT 258. Property located at. 259. OTHER: ( ) If checked, Addendum B is included with this Purchase Agreement 260. ( ) If checked, Addendum A is included with this Purchase Agreement 261. 262. ADDENDA AND PAGE NUMBERING: Attached addenda are a part of this Purchase Agreement. 263. Enter total number of pages of this Purchase Agreement, including addenda, on line two (2) of page one (1). 264. I, the owner of the property, accept this Purchase I agree to purchase the property for the price and on 265. Agreement and authorize the listing broker to withdraw the terms and conditions set forth above 266. said property from the market, unless instructed I have reviewed all pages of this Purchase 267. otherwise in writing. Agreement. 268. I have reviewed all pages of this Purchase Agreement. 269. If checked, this Purchase Agreement is subject to 270. attached Counteroffer Addendum. 271. X X (Seller s Signature) (Date) (Buyer s Signature) (Date) 272. X X (Seller s Printed Name) (Buyer s Printed Name) 273. X X (Marital Status) (Marital Status) 274. X X (Seller s Signature) (Date) (Buyer s Signature) (Date) 275. X X (Seller s Printed Name) (Buyer s Printed Name) 276. X X (Marital Status) (Marital Status) 277. FINAL ACCEPTANCE DATE: The date on which the fully executed Purchase Agreement is delivered. 278. 279. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S). 280. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. 281. I ACKNOWLEDGE THAT I HAVE RECEIVED AND HAVE HAD THE OPPORTUNITY TO REVIEW THE ARBITRATION 282. DISCLOSURE AND RESIDENTIAL REAL PROPERTY ARBITRATION AGREEMENT, WHICH IS AN OPTIONAL, 283. VOLUNTARY AGREEMENT AND IS NOT PART OF THIS PURCHASE AGREEMENT. 284. SELLER(S) BUYER(S) 285. SELLER(S) BUYER(S) MN:PA-7 (8/11)
ADDENDUM TO PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORS, which disclaims any liability arising out of use or misuse of this form. 2011 Minnesota Association of REALTORS, Edina, MN 1. Date 2. Page 3. Addendum to Purchase Agreement between parties, dated, 20, pertaining to the 4. purchase and sale of the property at 5.. 6. In the event of a conflict between this Addendum and any other provision of the Purchase Agreement, the language 7. in this Addendum shall govern. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. Buyer(s) hereby acknowledges they should use their inspection period to examine the property both physically and politically, ie check assessment, truth in house and/or code compliance requirements, etc. Buyer(s) will assume all requested repairs on city truth in housing/code compliance/point of sale report. Buyer(s) will assume all inspection, registration, permit, vacant building registration fees and/or bond fees required by the city. If applicable buyer to sign city escrow and funds with the city, county and/or buyer's lender for any and all required requested repairs, work orders, code compliance, septic system, wells, city sewer upgrades or repairs, stop box, curb box, water on/off box, stand pipe repairs or replacement, etc. Buyer(s) will assume any city assessments or charges for connecting or disconnecting the water meter on the subject property. Some cities including Minneapolis can assess a water meter tampering or replacement charge of approximately $200.00. This fee must be paid by the buyers. Buyer(s) hereby acknowledges that they have contacted the city, county, HOA and all municipalities in regards to any assessments and/or requested repairs, that could be on the subject property and will assume after closing, unless paid for by the seller prior to closing. This property is being sold as-is and appliances are not included in the sale and are not guaranteed to be in the property prior to or after closing. 31. (Seller) (Date) (Buyer) (Date) 32. (Seller) (Date) (Buyer) (Date) 33. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. 34. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MN-APA (8/11)
3. 4. 5. 6. 7. 8. 9. 10. Property located at City of 1. 2. SELLER'S DISCLOSURE ALTERNATIVES This form approved by the Minnesota Association of REALTORS, which disclaims any liability arising out of use or misuse of this form. 2009 Minnesota Association of REALTORS, Edina, MN Date Page 1 of NOTICE Sellers of residential property, with limited exceptions, are obligated to satisfy the requirements of MN Statutes 513.52 through 513.60. To comply with the statute, Seller must provide either a written disclosure to the prospective Buyer (see Seller's Property Disclosure Statement ) or satisfy one of the following two options: (Select one option only.) 1) QUALIFIED THIRD-PARTY INSPECTION: Seller shall provide to prospective Buyer a written report that 11. discloses material information relating to the real property that has been prepared by a qualified third party. 12. "Qualified third party" means a federal, state or local governmental agency, or any person whom Seller or 13. prospective Buyer reasonably believes has the expertise necessary to meet the industry standards of practice 14. for the type of inspection or investigation that has been conducted by the third party in order to prepare the 15. written report. 16. Seller shall disclose to prospective Buyer material facts known by Seller that contradict any information 17. that is included in a written report, or material facts known by Seller that are not included in the 18. report. 19. The inspection report was prepared by 20., 21. and dated,. 22. Seller discloses to Buyer the following material facts known by Seller that contradict any information included 23. in the above referenced inspection report. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. pages, County of, State of Minnesota. Seller discloses to Buyer the following material facts known by Seller that are not included in the above referenced inspection report. 36. 2) X WAIVER: The written disclosure required may be waived if Seller and prospective Buyer agree in writing. Seller 37. and Buyer hereby waive the written disclosure required under MN Statutes 513.52 through 513.60. 38. Waiver of the disclosure required under MN Statutes 513.52 through 513.60 does not waive, limit or 39. abridge any obligation for Seller disclosure created by any other law. 40. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER., MN:SDA-1 (8/09) Produced with ZipForm by ziplogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziplogix.com Untitled
SELLER'S DISCLOSURE ALTERNATIVES 41. Page 2 42. Property located at 43. 44. 45. 46. 47. OTHER REQUIRED DISCLOSURES: NOTE: In addition to electing one of the above alternatives to the material fact disclosure, Minnesota law also requires sellers to provide other disclosures to prospective buyers, such as those disclosures listed below. Additionally, there may be other required disclosures by federal, state, local or other governmental entities that are not listed below.. 48. 49. 50. 51. 52. 53. 54. 55. 56. A. SUBSURFACE SEWAGE TREATMENT SYSTEM DISCLOSURE: (A subsurface sewage treatment system disclosure is required by MN Statute 115.55.) (Check appropriate box.) Seller certifies that Seller DOES DOES NOT know of a subsurface sewage treatment system on or serving -----------------(Check one.)----------------- the above-described real property. (If answer is DOES, and the system does not require a state permit, see Subsurface Sewage Treatment System Disclosure Statement.) There is a subsurface sewage treatment system on or serving the above-described real property. (See Subsurface Sewage Treatment System Disclosure Statement.) There is an abandoned subsurface sewage treatment system on the above-described real property. (See Subsurface Sewage Treatment System Disclosure Statement.) 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. B. PRIVATE WELL DISCLOSURE: (A well disclosure and Certificate are required by MN Statute 103I.235.) (Check appropriate box.) Seller certifies that Seller does not know of any wells on the above-described real property. Seller certifies there are one or more wells located on the above-described real property. (See Well Disclosure Statement.) Are there any wells serving the above-described property that are not located on the property? Contaminated Well: Is there a well on or serving the property that contains contaminated water? To your knowledge, is the property in a Special Well Construction Area? Comments: C. VALUATION EXCLUSION DISCLOSURE: (Required by MN Statute 273.11, Subd. 16) There IS IS NOT an exclusion from market value for home improvements on this property. Any valuation - - - - -(Check one.)- - - - - exclusion shall terminate upon sale of the property, and the property's estimated market value for property tax purposes shall increase. If a valuation exclusion exists, Buyers are encouraged to look into the resulting tax consequences. Additional comments: D. METHAMPHETAMINE PRODUCTION DISCLOSURE: (A methamphetamine production disclosure is required by MN Statute 152.0275, Subd. 2 (m).) X Seller is not aware of any methamphetamine production that has occurred on the property. Seller is aware that methamphetamine production has occurred on the property. (See Methamphetamine Production Disclosure Statement.) E. NOTICE REGARDING AIRPORT ZONING REGULATIONS: The property may be in or near an airport safety zone with zoning regulations adopted by the governing body that may affect the property. Such zoning regulations are filed with the county recorder in each county where the zoned area is located. If you would like to determine if such zoning regulations affect the property, you should contact the county recorder where the zoned area is located. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER. Yes Yes Yes No No No MN:SDA-2 (8/09) Produced with ZipForm by ziplogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziplogix.com Untitled
SELLER'S DISCLOSURE ALTERNATIVES 83. Page 3 84. Property located at 85. F. (Initial) (Initial) Buyer has had the opportunity to review page four (4) of this Agreement.. 86. 87. 88. 89. G. NOTICE REGARDING CARBON MONOXIDE DETECTORS: MN Statute 299F.51 requires Carbon Monoxide Detectors to be located within ten (10) feet from all sleeping rooms. Carbon Monoxide Detectors may or may not be personal property and may or may not be included in the sale of the home. 90. H. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information regarding the predatory 91. offender registry and persons registered with the predatory offender registry under MN Statute 243.166 92. may be obtained by contacting the local law enforcement offices in the community where the property is 93. located or the Minnesota Department of Corrections at (651) 361-7200, or from the Department of Corrections 94. web site at www.corr.state.mn.us. 95. I. SELLER'S STATEMENT: 96. (To be signed at time of listing.) 97. Seller(s) hereby authorizes any licensee(s) representing or assisting any party(ies) in this transaction to provide 98. a copy of this Disclosure to any person or entity in connection with any actual or anticipated sale of the property. 99. (Seller) (Date) (Seller) (Date) 100. J. BUYER'S ACKNOWLEDGEMENT: 101. (To be signed at time of purchase agreement.) 102. I/We, the Buyer(s) of the property, acknowledge receipt of this SELLER'S DISCLOSURE ALTERNATIVES form 103. and agree to the seller's disclosure option selected in this form. I/We further agree that no representations regarding 104. material facts have been made, other than those made in this form. 105. (Buyer) (Date) (Buyer) (Date) 106. K. ADDITIONAL DISCLOSURES: 107. 108. 109. 110. L. SELLER'S ACKNOWLEDGEMENT: 111. (To be signed at time of purchase agreement.) 112. AS OF THE DATE BELOW, I/we, the Seller(s) of the property, state that the material facts are the same, except 113. for changes as indicated below, which have been signed and dated. 114. 115. 116. 117. (Seller) (Date) (Seller) (Date) 118. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER. MN:SDA-3 (8/09) Produced with ZipForm by ziplogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziplogix.com Untitled
SELLER'S DISCLOSURE ALTERNATIVES 119. Page 4 120. 121. 122. 123. 124. 125. 126. 127. 128. 129. 130. 131. 132. 133. 134. 135. 136. 137. 138. 139. 140. 141. 142. 143. 144. 145. 146. 147. 148. 149. 150. 151. 152. 153. 154. M. OTHER INFORMATION: WATER INTRUSION AND MOLD GROWTH: Recent studies have shown that various forms of water intrusion affect many homes. Water intrusion may occur from exterior moisture entering the home and/or interior moisture leaving the home. Examples of exterior moisture sources may be improper flashing around windows and doors, improper grading, flooding, roof leaks. Examples of interior moisture sources may be plumbing leaks, condensation (caused by indoor humidity that is too high or surfaces that are too cold), overflow from tubs, sinks or toilets, firewood stored indoors, humidifier use, inadequate venting of kitchen and bath humidity, improper venting of clothes dryer exhaust outdoors (including electrical dryers), line-drying laundry indoors, houseplants watering them can generate large amounts of moisture. In addition to the possible structural damage water intrusion may do to the property, water intrusion may also result in the growth of mold, mildew and other fungi. Mold growth may also cause structural damage to the property. Therefore, it is very important to detect and remediate water intrusion problems. Fungi are present everywhere in our environment, both indoors and outdoors. Many molds are beneficial to humans. However, molds have the ability to produce mycotoxins that may have a potential to cause serious health problems, particularly in some immunocompromised individuals and people who have asthma or allergies to mold. To complicate matters, mold growth is often difficult to detect, as it frequently grows within the wall structure. If you have a concern about water intrusion or the resulting mold/mildew/fungi growth, you may want to consider having the property inspected for moisture problems before entering into a purchase agreement or as a condition of your purchase agreement. Such an analysis is particularly advisable if you observe staining or any musty odors on the property. For additional information about water intrusion, indoor air quality, moisture or mold issues, go to the Minnesota Association of REALTORS web site at www.mnrealtor.com. LISTING BROKER AND LICENSEES MAKE NO REPRESENTATIONS AND ARE NOT RESPONSIBLE FOR ANY CONDITIONS EXISTING IN THE PROPERTY. ORIGINAL COPY TO LISTING BROKER; COPIES TO SELLER, BUYER, SELLING BROKER. MN:SDA-4 (8/09) Produced with ZipForm by ziplogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziplogix.com Untitled
CONDOMINIUM/TOWNHOUSE/ COOPERATIVE ADDENDUM COMMON INTEREST COMMUNITY (CIC) This form approved by the Minnesota Association of REALTORS, which disclaims any liability arising out of use or misuse of this form. 2010 Minnesota Association of REALTORS, Edina, MN 1. 2. Date Page 3. 4. 5. Addendum to Purchase Agreement between parties dated to the purchase and sale of property at,, pertaining. 6. 7. 8. 9. THIS TRANSACTION MAY NOT BE SUBJECT TO THE DISCLOSURE REQUIREMENTS (see information under "EXCEPTIONS") AND TEN (10)-DAY RIGHT OF CANCELLATION DESCRIBED BELOW. BUYER MAY WISH TO DETERMINE WHETHER THESE PROVISIONS APPLY BEFORE PROCEEDING WITH THIS OFFER TO PURCHASE. 10. NOTICE: Unless they are otherwise exempt, the following statutory NOTICE applies to transactions involving 11. condominiums or cooperatives or planned communities (including townhomes) that are subject to or have elected to be 12. subject to the Minnesota Common Interest Ownership Act (MCIOA), MN Statutes 515B.1-101 through 515B.4-118: 13. The following notice is required by Minnesota Statutes. The purchaser is entitled to receive a disclosure statement 14. or resale disclosure certificate, as applicable. The disclosure statement or resale disclosure certificate contains 15. important information regarding the common interest community and the purchaser s cancellation rights. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. NOTICE FOR INITIAL SALE: Minnesota Statutes require that the following disclosure be made to the initial occupant, of a platted lot or other parcel of real estate (i) which is subject to a master declaration, (ii) which is intended for residential occupancy, and (iii) which does not and is not intended to constitute a unit. The following notice is required by Minnesota Statutes: The real estate to be conveyed under this Purchase Agreement is or may be subject to a master association as defined in MN Statute 515B. The master developer is required to provide to the buyer, within ten (10) days after receipt of a request from the buyer or the buyer's authorized representative, a statement containing the information required by MN Statute 515B.4-102(a)(20), with respect to the master association. The statement contains important information regarding the master association. The name, address and telephone number of the master developer are: 26. " DOCUMENTATION AND RIGHT TO CANCEL APPLICABILITY: If this transaction involves ownership of a condominium or of a cooperative or of a unit in a planned community (including townhomes) that is subject to or has elected to be subject to MCIOA, then the following disclosure requirements and right of cancellation apply to this transaction. However, certain properties are exempt from coverage under MCIOA. Buyer may wish to determine whether this property is subject to MCIOA before submitting an offer to purchase. DOCUMENTS: Seller is required to furnish Buyer with the following documents relating to the Association or to the Master Association, if applicable, before conveyance of unit: 1) (a) copies of the declaration, if any (other than any CIC plat or registered land survey), (b) the articles of incorporation, (c) bylaws, (d) any rules and regulations for the Association or Master Association, if any, and (e) any amendments or supplemental declarations; 2) copies of the master declaration, articles of incorporation, bylaws, and rules and regulations, if the common interest community is subject to a master declaration (for resale of the property); 40. 41. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. MN:CA-1 (8/10) Prodigy Real Estate Group 2035 County Rd D E Ste E Maplewood, MN 55109 Phone: 651-222-6683 Fax: 651-704-0710 Corey McCracken Untitled Produced with ZipForm by ziplogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziplogix.com
Produced with ZipForm by ziplogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziplogix.com CONDOMINIUM/TOWNHOUSE/ COOPERATIVE ADDENDUM COMMON INTEREST COMMUNITY (CIC) 42. Page 43. Property located at. 44. 45. 46. 47. 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. 83. 84. 85. 86. 87. 88. 89. 90. 91. 92. 93. 3) a Disclosure Statement (for initial sale of property) or Resale Disclosure Certificate (for resale of the property) and all amendments thereto required by MCIOA 515B.4-101 or 515B.4-107. The Resale Disclosure Certificate from the Association must be dated not more than 90 days prior to the date of the Purchase Agreement or the date of conveyance, whichever is earlier. The Association may charge a reasonable fee for providing the required documents, which shall be paid by Seller unless otherwise agreed to in writing. A Seller, on resale of the property, is not liable to Buyer for any erroneous information provided by the Association and included in the Resale Disclosure Certificate. Nor is a Seller, on resale of the property, liable to Buyer for failure of the Association to provide the Resale Disclosure Certificate, or for a delay by the Association in providing said Disclosure Certificate in a timely manner. For an initial sale of the property, a declarant of a common interest community may be liable to provide the Disclosure Statement and its contents. RIGHT TO CANCEL PURCHASE AGREEMENT: Unless Buyer received Association documents (described on lines 35-53) more than ten (10) days before signing the Purchase Agreement, Buyer has the right to cancel this Purchase Agreement within ten (10) days of receipt of said documents. If an Amendment to a Disclosure Statement (for an initial sale of the property only) materially and adversely affects a Buyer, then Buyer may cancel this Purchase Agreement within ten (10) days after delivery of the Amendment. If Buyer elects to cancel this Purchase Agreement, the Purchase Agreement is canceled. Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said cancellation and directing all earnest money paid hereunder to be refunded to Buyer. Buyer shall return all documents to Seller or shall reimburse Seller for Seller s cost to obtain the documents. Buyer may cancel, without penalty, by either delivering written notice of cancellation to Seller, or licensee representing or assisting Seller, or by mailing such notice by postage-prepaid U.S. mail, to Seller, or licensee representing or assisting Seller, within said ten (10)-day period. On residential transactions, the ten (10)-day rescission period, after delivery of the Disclosure Statement, Amendment to the Disclosure Statement or the Resale Disclosure Certificate, may be modified or waived, in writing, by agreement of Buyer of a unit ONLY AFTER Buyer has received and had an opportunity to review the Disclosure Statement, Amendment to the Disclosure Statement or Resale Disclosure Certificate. The person required to deliver a Disclosure Statement, Amendment to the Disclosure Statement or the Resale Disclosure Certificate may not condition the sale of the unit on Buyer agreeing to modify or waive Buyer s ten (10)-day right of rescission, may not contractually obligate Buyer to modify or waive Buyer s ten (10)-day right of rescission and may not include a modification or waiver of the ten (10)-day right of rescission in any purchase agreement for the unit. To be effective, a modification or waiver of Buyer s ten (10)-day right of rescission must be evidenced by an instrument separate from the Purchase Agreement signed by Buyer more than THREE (3) DAYS after Buyer receives the Disclosure Statement, Amendment to Disclosure Statement or the Resale Disclosure Certificate. On residential transactions, the ten (10)-day rescission period may also be waived or shortened by Buyer s acceptance of conveyance (closing) of the property, in accordance with MN Statute 515B. ASSOCIATION REPLACEMENT RESERVES AND ASSESSMENTS: The selling price includes any funds held in replacement reserve by the Unit Owners Association for repairs or capital improvements. There shall be no adjustment at closing for such replacement reserves, except for such portion of the current (month of closing) monthly assessments allotted for such replacement REGULAR ASSESSMENTS: All Unit Owners Association regular assessments shall be paid to date of closing by Seller as required by Unit Owners Association documents. The installment of regular assessments due or paid in the month of closing shall be prorated between Buyer and Seller as of the date of closing. Seller shall furnish paid receipts or a letter from the Unit Owners Association at closing, confirming that all assessments have been paid as required by Unit Owners Association documents. UNIT OWNERS ASSOCIATION SPECIAL ASSESSMENTS: Shall be handled as specified on page two (2) of the Purchase Agreement. Seller makes no representation or warranty whatsoever concerning the amount of Unit Owners Association assessments which may be assessed against the property after the date of closing. Such information, if known, is reflected in the Disclosure Statement or Resale Disclosure Certificate. However, Seller shall provide Buyer with any written notice received by Seller from the Unit Owners Association relating to potential expenditures which may occur subsequent to the date of closing. MN:CA-2 (8/10) THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. Untitled
CONDOMINIUM/TOWNHOUSE/ COOPERATIVE ADDENDUM COMMON INTEREST COMMUNITY (CIC) 94. Page 95. Property located at. 96. WARRANTY DISCLAIMER: Notwithstanding anything to the contrary contained in this Purchase Agreement, 97. Seller makes no warranty of any kind regarding the condition of the common areas and facilities, subject to 98. any statutorily mandated warranty. For an initial sale of a property, the builder/developer may be required by 99. statute to provide specified warranties. 100. OTHER: REO PROPERTY. 101. EXCEPTIONS: Most common interest communities will be subject to MN Statute 515B (MCIOA); however, current 102. MN Statute 515B.1-102 (e) states that Chapter 515B shall not apply, unless the association has elected to be 103. covered by MN Statute 515B (MCIOA), to the following: 104. (1) a planned community which consists of two (2) units, which utilizes a common interest community plat complying 105. with section 515B.2-110(d) (1) and (2) which is not subject to any rights to subdivide or convert units or to add 106. additional real estate and which is not subject to a master association; 107. (2) a common interest community where the units consist solely of separate parcels of real estate designed or 108. utilized for detached single-family dwellings or agricultural purposes, and where the association or a master 109. association has no obligation to maintain any building containing a dwelling or any agricultural building; 110. (3) a cooperative where, at the time of creation of the cooperative, the unit owners interests in the dwellings as 111. described in the declaration consist solely of proprietary leases having an unexpired term of fewer than 20 112. years, including renewal options; 113. (4) planned communities utilizing a common interest community plat with section 515B.2-110(d) (1) and (2) and 114. cooperatives, which are limited by the declaration to nonresidential use; or 115. (5) real estate subject only to an instrument or instruments filed primarily for the purpose of creating or modifying 116. rights with respect to access, utilities, parking, ditches, drainage or irrigation. 117. Unless a common interest community described in (1) (5) above has elected to be subject to MN Statute 515B, 118. Seller would not be required to provide a Disclosure Statement, Amendment to the Disclosure Statement or the Resale 119. Disclosure Certificate or the ten (10)-day purchaser s right of rescission. 120. If you have determined that the common interest community is subject to MN Statute 515B, then the seller 121. MUST provide a Disclosure Statement, Amendment to the Disclosure Statement or the Resale Disclosure 122. Certificate and the ten (10)-day purchaser s right of rescission for all common interest communities, including 123. condominiums, townhomes and cooperatives, regardless of when they were created. 124. MN Statute 515B.4-101(c) Neither a Disclosure Statement nor a Resale Disclosure Certificate need be prepared 125. or delivered in the case of 126. (1) a gratuitous transfer; 127. (2) a transfer pursuant to a court order; 128. (3) a transfer to a government or governmental agency; 129. 130. 131. 132. 133. 134. 135. 136. MN:CA-3 (8/10) (4) a transfer to a secured party by foreclosure or deed in lieu of foreclosure; (5) an option to purchase a unit, until exercised; (6) a transfer to a person who controls, or is controlled by, the grantor, as those terms are defined with respect to a declarant under MN Statute 515B.1-103(2); (7) a transfer by inheritance; (8) a transfer of special declarant rights under MN Statute 515B.3-104; or (9) a transfer in connection with a change of form of common interest community under MN Statute 515B.2-123. 137. A Disclosure Statement and a Resale Disclosure Certificate can be waived by written agreement of purchasers of a 138. unit which is restricted to nonresidential use. 139. 140. 141. 142. (Seller) (Date) (Buyer) (Date) (Seller) (Date) (Buyer) (Date) THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYERS AND SELLERS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. Produced with ZipForm by ziplogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.ziplogix.com Untitled
Asset #: MULTIPLE OFFER PROCEDURE FORM Date: Property Address: City/State/Zip: Offeror Name(s): Selling Agent & Broker: Dear Offeror: We are involved in a multiple offer situation on the above referenced property. ALL OFFERS will be considered subject to the following: 1. All offers must be in writing no verbal offers will be accepted. 2. The Listing Agent must receive your written best offer no later than (time) on (date). Delivery of such offer may be via facsimile to: Listing Agent & Broker: Telephone Number: Facsimile Number: 3. The Listing Agent will submit all offers to Seller(s) via Seller s on-line system, at close of Multiple Offer Period. 4. The following terms and conditions shall be applicable to you and to any offer you wish to submit: a) Seller shall have sole and absolute discretion to accept or reject any offer received. Seller is not required to accept any particular offer, regardless of its terms, and has the absolute right and discretion to reject all offers. b) Subsequent to receipt of offers, Seller shall have the absolute right to deal with any Broker and/or one or more offerors to further negotiate the terms and conditions of any offer. In so doing, Seller shall have no obligation to negotiate or communicate with each and every other offeror, or with any offeror. c) Under no circumstances shall verbal communications between an Offeror and Seller or any agent or Broker constitute or create an obligation on the part of Seller to sell a property to anyone under any terms. d) The acceptance of any offer shall be conditioned upon the subsequent execution by the Offeror and Seller of a written contract of sale, including all required addenda and setting forth terms and conditions satisfactory to the Seller. The Seller shall have no obligation to sell the property unless and until such written contract is fully executed. 5. In the event an accepted offer does not result in a closed escrow, Seller reserves the right to re-open negotiations with any offeror and/or Seller may request Listing Agent to solicit new offers. Please sign below to acknowledge your understanding and acceptance of these terms and procedures and return this form to the Listing Broker no later than the time designated for the transmittal of offers. Failure to transmit such acceptance may prevent your offer from being considered. ACKNOWLEDGED AND AGREED (Offeror) Date (Offeror) Date (Selling/Buyers Agent) Date HomeSteps Address: 5000 Plano Parkway Carrollton, TX 75010 972-395-4000 Form 5.2 HomeSteps / Freddie Mac / 09/09/10 Page 1 of 1