Offer2
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This document is a real estate purchase agreement and receipt for a $3,000 non-refundable earnest money deposit for a property in Minnesota. The purchase price is $27,950, with the $3,000 earnest money applied. The buyer's obligations are contingent on obtaining a loan commitment for $29,950 at no more than market interest rate for up to 40 years within 45 days. If the buyer does not obtain financing, the seller may terminate the agreement. The offer is also contingent on the buyer demonstrating source of funds and loan pre-approval to the seller's satisfaction.
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Offer2
- 1. Real Estate Purchase agreement & Receipt for Non-Refundable Earnest Money Date___6/25/2009____________ RECEIVED FROM___ITEN EZZ__________________________________________________(buyer) The sum of____Three thousand Dollars____________________________________________ Evidenced by cashier’s check payable to the listing broker or designee to be held uncashed until acceptance of this offer earnest Money in partial payment of property at:_______________________________________________ __________________________________________________________________________________ Situated in the county of _________________, city of __________________, state of Minnesota, legally described as follows:_______________________________________________________________ For the sum of: Twenty Seven Thousand & Nine Hundred Fifty Dollars ($____________) On or before 07/24/2009 1. Personal property: there is no personal property included in this offer. 2. Payment of purchase price: the purchase price shall be paid in the following manner: (Check one or more and complete as applicable): None- Refundable earnest money submitted with this offer( Minimum of $2.000 or 2% of the purchase price whichever is higher). Buyer earnest deposits are non- refundable and released to seller upon buyers passive removal of physical inspection contingencies $3,000 Balance of down payment(or purchase price) to be paid at closing $29,950 New loan by an institutional lender: buyers; obligations to buy $_____ Under this contract are contingent on buyer and buyer’s expense obtaining a written loan commitment from an institutional lender in the principal of sum of for a term of not more than 40 years bearing an interest rate of not more than Market % per year. Unless buyer notifies seller in writing within 45 days after the mutual signing of this agreement that buyer has obtained such a commitment the notice to be accompanied by a copy of the commitment, seller may after that date terminate this agreement in writing by notifying the other party in writing. Total purchase price $_____ Additional financing term: See Addendum__________________ 3. This offer is contingent upon buyers at the time of offer presentation, demonstrating source of funds to seller’s satisfaction and if purchase is financed provide written evidence of pre- approval to seller’s satisfaction a lender of buyers chose. Buyer authorizes buyer’s lender to release loan information regarding status of buyer’s loan application including approval or rejection of loan, and an issuance of a commitment to seller and seller’s agents. 1 of 5