Offer To Purchase Real Estate And Acceptance (Page 2 of 3) in pdf

TITLE: SELLER shall furnish a [ ] Limited Warranty Deed; [ ] General Warranty or Fiduciary Deed; [ ] Other ____________________________; with

release of dower, if any, conveying the Property to BUYER or nominee free and clear of all liens and encumbrances whatsoever except (a) such

encroachments and recorded restrictions, easements, and conditions, including without limitation subsurface rights, which do not materially adversely

affect the use or value of the Property: (b) zoning ordinances. if any; and (c) taxes and assessments which are a lien on the Property but are not currently

due and payable. SELLER shall furnish to BUYER an Owners Policy of Title Insurance (“Title Policy”) in the amount of the purchase price subject to the

above exceptions and any acts of Grantee. The premium cost shall be shared equally between BUYER and SELLER.

TITLE OFFICER NAME:____________________________________________ TO PHONE:___________________________________________

TITLE COMPANY: ________________________________________________ TO EMAIL: ___________________________________________

CHARGES: SELLER shall pay the following costs through escrow: (1) the Title Search and one-half (1/2) the premium for the Title Policy, (2) the

amount(s) due to discharge any lien encumbering the Property and to record the cancellation thereof, (3) any governmental conveyance tee or transfer

tax, (4) Deed preparation, (5) the prorations due BUYER under this AGREEMENT, (6) the real estate commission due SARVER REALTY described in

Section R, (7) if this is a Sarver Realty listing, an Administrative Service Fee of $145 due and payable to Sarver Realty and (8) one-half (1/2) the escrow

fee. BUYER shall pay The following costs through escrow: (1) recording of the Deed, (2) one-half (1/2) the escrow fee, (3) one-half (1/2) the premium for

the Title Policy, (4) any cost incident to BUYER’S financing, (5) location survey and (7) and an Administrative Service Fee of $145 due and payable to

Sarver Realty.

L) STATE OF OHIO RESIDENTIAL PROPERTY DISCLOSURE FORM:

______________BUYER shall not receive the “Residential Property Disclosure Form” and buyer waives his right of rescission.

BUYER Initials

BUYER RECOGNIZES BUYER’S OWN RESPONSIBILITY TO INSPECT AND MAKE DILIGENT INQUIRY CONCERNING THE PROPERTY AND

RELEASES ALL REALTORS FROM ANY CLAIM OF NONDISCLOSURE, CONCEALMENT, MISREPRESENTATION OR NEGLIGENCE

RESPECTING THE CONDITION OF THE PROPERTY. SELLER AGREES TO NOTIFY BUYER OF ANY ADDITIONAL DISCLOSURE ITEMS

THAT ARISE BETWEEN THE DATE OF ACCEPTANCE AND THE DATE OF RECORDING THE DEED.

INSPECTIONS:

1. INSPECTION CONTINGENCIES: BUYER shall have _______ days after Acceptance to have professionals perform, at BUYER’S expense, the

inspection(s) indicated below. BUYER shall notify SELLER in writing within three (3) days after inspection of any material condition(s)

unsatisfactory to BUYER, if SELLER agrees within two (2) days after notification to correct said condition(s), then this AGREEMENT shall remain

in full force and effect. If SELLER does not so elect, then BUYER, at BUYER’S option may either waive such condition(s) and accept the Property

in its “AS IS" condition or terminate this AGREEMENT in accordance with M (2) below. SELLER agrees to provide reasonable access to the

Property for BUYER to review any such conditions corrected by SELLER.

BUYER SHOULD INDICATE YES [X] FOR EACH PROFESSIONAL INSPECTION DESIRED:

a. General Home Inspection

[ ] Yes

e. Other Well Water Tests

[ ] Yes

b. Septic System Inspection

[ ] Yes

Termite/Wood Destroying Insect Inspection

[ ] Yes

c. Well Water Flow Rate Test

[ ] Yes

g. Radon

[ ] Yes

2. TERMINATION AND RELEASE: if SELLER does not elect to correct the unsatisfactory material condition(s) and BUYER does not elect to waive

such condition(s), then this AGREEMENT shall be null and void, and neither BUYER, SELLER nor any REALTOR(S) involved in this transaction

shall have any further liability or obligation to each other, and both BUYER and SELLER agree to sign a mutual release, whereupon holder of

earnest money shall return it to BUYER.

3. WAIVER: BUYER elects to waive each professional inspection to which BUYER has not indicated "YES". Any failure by BUYER to perform any

inspection indicated "YES" herein is a waiver of such inspection and shall be deemed absolute acceptance of the Property by BUYER in its “AS IS”

condition.

NO ORAL REPRESENTATIONS: BUYER acknowledges that the REALTOR(S) has made no representations, warranties, or agreements,

expressed or implied, including any representation that: (a) the basement, crawl space, or slab area does not incur seepage, leakage, dampness,

or standing water; (b) the heating, cooling, plumbing, or electrical system or any built-in appliance is in good working condition or is completely

functional: (c) The roof is weather tight and structurally sound; (d) the structure is free from insect infestation; (e) the water supply or septic

system, if any, is not deficient in any respect; or (f) Radon Gas, UREA-Formaldehyde Foam or asbestos insulation, or any other toxic substance is

not present on the Property.

HOME WARRANTY: Home warranties DO NOT COVER PRE-EXISTING DEFECTS in the property nor preclude the advisability of professional

inspection(s). BUYER [ ] does elect, [ ] does not elect, (MARK THE APPROPRIATE BOX) to secure Home Warranty Plan issued by

_______________.

____________________________

The cost of $ ____________ shall be paid by ________________ through escrow.

N) DAMAGE: In the event the improvements are damaged in excess of ten percent (10%) of their replacement cost by fire or other hazards prior to the

recording of the Deed, BUYER shall have the option of terminating this transaction and receiving the return of all deposits made hereunder. Risk of loss

shall be borne by SELLER until recording of the Deed.

Offer To Purchase Real Estate And Acceptance Page 2

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