Residential Purchase Agreement Template - Offer, Receipt And Acceptance (Page 5 of 5) in pdf

Property Address:

196

EARNEST MONEY: In the event of a dispute between the Seller and Buyer regarding the disbursement of the

197

earnest money in the Broker's trust account, the Broker is required by Ohio law to maintain such funds in a trust

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account until the Broker receives (a) written instructions signed by the parties specifying how the earnest money is

199

to be disbursed or (b) a final court order that specifies to whom the earnest money is to be rewarded. If within two

200

years from the date the earnest money was deposited in the Broker's trust account, the parties have not provided

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the Broker with such signed instructions or written notice that such legal action to resolve the dispute has been

202

filed, the Broker shall return the earnest money to the purchaser with no further notice to the Seller.

203

In all events, at closing of the transaction, the broker shall have the right to apply earnest money being held by

204

broker against the real estate commission owed the broker as a result of said closing.

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BINDING AGREEMENT: Upon written acceptance, then either written or verbal notice of such acceptance to the

206

last-offering party, this offer and any addenda listed above shall become a legally binding agreement upon Buyer

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and Seller and their heirs, executors, administrators and assigns and shall represent the entire understanding of

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the parties regarding this transaction. All counter-offers, amendments, changes or deletions to this Agreement

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shall be in writing and be signed/initialed by both Buyer and Seller. Facsimile and/or scan and e-mail signatures

210

shall be deemed binding and valid. This Agreement shall be used as escrow instructions subject to the Escrow

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Agent's usual conditions of acceptance. If there is any conflict between the escrow's conditions of acceptance

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and this Agreement, the terms of this Agreement shall prevail. For purposes of this Agreement, “days” shall be

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defined as calendar days.

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This Agreement is a legally binding contract. If you have any questions of law, consult your attorney.

215

BUYER

__________________________________

Address

216

Print Name

217

BUYER

__________________________________

Date

Phone

218

Print Name

219

ACCEPTANCE: Seller accepts the above offer and irrevocably instructs escrow agent to pay from Seller's escrow

220

funds a commission of $

percent (

%) of the

221

purchase price to

(Selling Broker)

(Office)

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and $

plus

percent (

%) of the

223

purchase price to

(Listing Broker)

(Office)

224

SELLER

_________________________________

Address

225

Print Name

226

SELLER

_________________________________

Date

Phone

227

Print Name

228

Selling Agent Name, Telephone and Email:

Listing Agent Name, Telephone and Email:

229

230

231

232

Selling Brokers Name, Address and Telephone:

Listing Brokers Name, Address and Telephone:

233

234

235

236

_____________ ____________

_____________ _____________

Page 5 of 5

BUYER'S INITIALS AND DATE

RESIDENTIAL PURCHASE AGREEMENT

SELLER'S INITIALS AND DATE

NEOHREX 03/10

Residential Purchase Agreement Template - Offer, Receipt And Acceptance Page 5

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