Counter Offer No 1 of 1
This is the Counter Offer to the purchase offer dated _____________ regarding the property located at: __________________________________________ between Accredited Home Lenders “Seller” and _______________________________________“Buyer. Sales price to be: $____________via ___________to Seller. Buyer will deposit with listing office $___________ earnest money upon acceptance. IF this is a “Cash” offer, Buyer shall provide proof of funds with their Offer. IF this offer is contingent upon financing, then buyer shall have formal loan approval within 10 days of acceptance.
Note: Unless otherwise specified in writing, down payment and loan amount will be adjusted in the same proportion as in the original offer. Note: The following terms and conditions of the above referenced document are accepted subject to the following and in accordance to state requirements.
ADDITIONAL COUNTEROFFER PROVISIONS: 1. Time is of the essence. Buyer will be charged a per diem penalty of $100/day for exceeding the contractually agreed upon closing date. 2. No warranties, expressed or implied are included in this sale. Subject property is being sold in its present “as-is / where is” condition. Buyers will satisfy themselves as to the condition of said property and their requirements regarding permitted and non-permitted areas of the subject property. 3. Buyer acknowledges that all pro-rations at closing for taxes, gas, electric, water, sewer, refuse and home owner association, if any, are FINAL at the time of closing and no further credits, adjustments, or reimbursements will be made by Seller or a representative of the Seller. Any charges after closing are buyer(s) sole responsibility. 4. Seller will make no repairs to subject property, unless otherwise agreed upon. 5. Seller will not provide a Survey on subject property, and if required, shall be the sole responsibility and expense of the Buyer. 6. Any termite inspections, treatment, and/or corrective work will be at the expense of the buyer. 7. Buyer is aware that Seller will convey title by Special or Limited Warranty Deed, or it’s local equivalent. 8. Seller agrees to provide a credit to the Buyer at Closing in the following amounts, if any, towards: Closing costs and prepays $________; Home Warranty Plan $________; Repairs $________; Appliances or Equipment $_________; Survey $_______. Said credit(s) to be approved by the Seller upon the receipt, review, and approval of the final settlement statement prior to the close of escrow. 9. The close of escrow shall be ____________ or sooner. Seller must approve any extension to the close of escrow date, requested by Buyer in writing. The Seller may require Buyer to release a non-refundable 3% earnest money deposit direct to Seller for any extension. Closing is subject to Seller being able to provide clear title. 10. Closing Title Company or Closing Attorney shall be Seller’s choice. 11. Buyer and Seller to pay their own normal customary escrow and title fees, as per local custom. 12. Seller does not agree to Arbitration and/ or Mediation.
Confidential
Page 2 of the Counteroffer to the purchase offer dated __________ between Accredited Home Lenders, as Seller and _____________________ as “Buyer(s)”
13. Seller will not assign Buyer any rights to any insurance claims and proceeds covering destruction or damage to property. 14. Original contract including all original offers, counter offers, and addendums are subject to final review and signature by Seller, and also Private Mortgage Insurance approval. 15. Buyers are aware that the property will remain on the market during the counter offer stages and that any and all offers will be considered, until Seller’s signature acceptance. 16. This contract may NOT be assigned. 17. Seller to provide only those keys in Seller’s possession. It is recommended that buyer re-key property at the close of escrow. 18. Bonds or assessments, which are now a lien, shall be paid current by the Seller at the close of escrow as stated in the purchase agreement. The Buyer shall assume payments that are not yet due. 19. All Buyer inspections to be completed within ___ days of acceptance. 20. Seller acquired subject property through foreclosure, has never lived in subject, and therefore will not provide a Real Property Disclosure Form, flood hazard disclosure, survey, or a geologic seismic hazard disclosure. 21. Buyer is responsible for all inspections, including structural, flood, applicable zoning, seismic, super fund sites, sex offenders, code violations, airport or highway noise, etc. if any. 22. Seller’s Sale Commission to be paid on net sales price, less all credits to Buyer. 23. This sale is not contingent upon the sale of another property. 24. As part of Buyer’s inspection process, Buyer may inspect subject’s plumbing
system, which may currently be “winterized”. At completion of said inspection, subject shall be ”re-winterized” to Seller’s specifications at Buyer’s expense,
25. ADDITIONAL PROVISIONS: A. Buyer to sign Seller’s attached “As-Is” Addendum. B. C. EXPIRATION Unless this Counter Offer is signed and accepted by the Buyer(s) and communication of acceptance is made by delivering a signed copy by mail or facsimile which is personally received by the Seller on or before _______________, this Counter Offer shall be deemed revoked and deposit shall be returned to the buyer. ______________________________ Seller Date
______________________________ Buyer Date
______________________________ Buyer Date
Confidential