Form Us-00472b - Contract For The Sale And Purchase Of Real Estate No Broker - Vacant Residential Land Page 2
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FORM US-00472B
approval of any assumption and make every reasonable effort to obtain financing or assumption approval.
Financing or assumption approval will be deemed to have been obtained when the lender determines that
Buyer has satisfied all of lender's financial requirements (those items relating to Buyer's net worth, income
and creditworthiness). If financing or assumption approval is not obtained within ________ days after the
effective date hereof, this contract will terminate and the earnest money will be refunded to Buyer
Existing Loan Review. If an existing loan is not to be released at closing, Seller shall provide copies of
the loan documents (including note, deed of trust or mortgage, modifications) to Buyer within
_____________ calendar days from acceptance of this contract. This contract is conditional upon Buyer's
review and approval of the provisions of such loan documents. Buyer consents to the provisions of such
loan documents if no written objection is received by Seller from Buyer within _____________ calendar
days from Buyer's receipt of such documents. If the lender's approval of a transfer of the Property is
required, this contract is conditional upon Buyer's obtaining such approval without change in the terms of
such loan, except as may be agreed by Buyer. If lender's approval is not obtained on or before
_______________________________, ____________, this contract shall be terminated on such date. The
Seller
shall
shall not, be released from liability under such existing loan If Seller is to be released
and release approval is not obtained, Seller may nevertheless elect to proceed to closing, or terminate this
agreement in the sole dis cretion of Seller.
Credit Information. If Buyer is to pay all or part of the purchase price by executing a promissory note in
favor of Seller or if an existing loan is not to be released at closing, this contract is conditional upon Seller's
approval of B uyer's financial ability and creditworthiness, which approval shall be at Seller's sole and
absolute
discretion.
In
such
case:
(l)
Buyer
shall
supply
to
Seller
on
or
before
_______________________________, ____________, at, Buyer's expense, information and documents
concerning Buyer's financial, employment and credit condition; (2) Buyer consents that Seller may verify
Buyer's financial ability and creditworthiness; (3) any such information and documents received by Seller
shall be held by Seller in confidence, and not released to others except to protect Seller's interest in this
transaction; (4) if Seller does not provide written notice of Seller's disapproval to Buyer on or before
_______________________________, ____________, then Seller waives this condition
4.
EARNEST MONEY: Buyer shall deposit $___________ as earnest money with ________________________
upon execution of this contract by both parties.
5.
PROPERTY CONDITION:
Buyer hereby represents that he has personally inspected and examined the above mentioned property and accepts
the property in it's "as-is" and present condition.
6.
UTILITIES: Water is provided to the property by ___________________________________, Sewer is provided by
_____________________________________. Gas is provided by __________________________. Electricity is
provided by _______________________________. Other: __________________________________________
_______________________________________________________________________________________________
_______________________________________________________________________________________________
The present condition of all utility access to the property is accepted by Buyer.
Seller is not aware of the existence of wetlands, shoreland, or flood plain on or affecting the real property except as
follows: ______________________________________________________________________________.
Seller knows of no hazardous substances or petroleum products having been placed, stored, or released from or on
the real property by any person in violation of any law, nor of any underground storage tanks having been located on
the real property at any time, except as follows: ___________________________________________________.
7.
CLOSING: The closing of the sale will be on or before ___________________, 20___ unless extended pursuant to
the terms hereof.
Buyer Initials ______ _______
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Seller Initials _______ _______
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