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Property Address: ___________________________________________________________________________________________
NOTE: In the event the included items in this addendum conflict with the terms of the original Offer to purchase, the terms of this
addendum shall prevail. It is the intent of the parties to the transaction to create a legally enforceable contract. BUYER AND
SELLER ARE ADVISED THAT THIS ADDENDUM CONTAINS STANDARD PROVISIONS WHICH ARE NOT APPROPRIATE
IN ALL TRANSACTIONS. NO REPRESENTATION IS MADE AS TO THE LEGALITY OF ANY PROVISION OR THE
APPROPRIATENESS OR ADEQUACY OF ANY PROVISION IN A SPECIFIC TRANSACTION. BUYER AND SELLER ARE
ENCOURAGED TO CONSULT WITH THEIR OWN LEGAL COUNSEL REGARDING THE INTERPRETATION,
APPROPRIATENESS, LEGALITY OR ADEQUACY OF THE PROVISIONS OF THIS ADDENDUM.
1 This Offer is contingent upon the Buyer having an appraisal of the Property completed by an appraiser licensed or certified in the
State of Wisconsin indicating the market value of the Property is equal to or greater than the purchase price. This contingency
shall be deemed waived unless Buyer delivers a copy of the appraisal to Seller or Seller's Broker within _________ days of
acceptance that does not indicate a value equal to or greater than the purchase price, in which case this Offer may be declared
null and void at the option of the Buyer, with all earnest money returning to Buyer.
FINANCING CONTINGENCY SATISFACTION
2 Should this Offer contain a contingency for financing, Buyer and Seller agree that the financing contingency shall not be
considered satisfied under any circumstances unless Buyer has signed an acceptance for a specific financing commitment or
unless Buyer has instructed, in writing, delivery of the financing commitment. (Note: A Buyer who signs an acceptance for a
financing commitment, even if subject to conditions, and delivers or authorizes delivery to the Seller, understands that the
financing contingency shall be satisfied.)
3 Buyer has elected not to make this Offer contingent upon an inspection of subject property. Buyer thus waives any and all rights
to conduct such an inspection.
GAP ENDORSEMENT FOR TITLE INSURANCE
4 Seller shall provide and pay for a Gap Endorsement to the title insurance policy required as part of this Offer to purchase which
would insure over liens filed between the effective date of the commitment and the date the deed is recorded.
5 Seller agrees to provide Buyer with a home warranty plan, the term of which plan shall be one (1) year. The charge for the
warranty is $____________ to be paid by the (Buyer) (Seller) (STRIKE ONE) at closing. This price includes the full amount of all
fees due and payable and the costs of inspection and administration.
The warranty plan will be ordered by the (listing) (cooperating) (STRIKE ONE) Broker. Buyer and Seller understand, approve,
and consent to the fact that a portion of this fee may be paid to the Broker ordering the plan. Buyer is advised that a home
inspection may detect pre-existing conditions which may not be covered under the warranty plan.
BUYER'S BROKERAGE COMPENSATION
6 Buyer has directed the Buyer's Broker to reject any offer of compensation offered by the listing broker to the Buyer's Broker.
Therefore, Seller agrees to pay Buyer's Broker 3% or ________ of purchase price at the time of closing on behalf of Buyer for
Buyer's Brokerage Fees. (Use only when transaction involves a co-broke listing)
SELLER TO PAY BUYER'S BROKER FEE
7 Seller agrees to pay Buyer's Broker Fee of 3.5% or ___________% of the purchase price at the time of closing on behalf of the
Buyer. (Use for unlisted properties)
SELLER PAYING CLOSING COSTS
8 Seller agrees to pay $_____________ at closing toward Buyer's closing costs, discount points or any other Buyer's costs
associated with closing. Any excess funds shall be applied to Buyer mortgage balance.
Buyer(s) Date Seller(s) Date
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9 This Offer is contingent upon the Buyer approving the subdivision regulations and/or covenants, and building and use restrictions
affecting the property. Seller shall submit copies of these documents to Buyer within ______ days of acceptance of this Offer. If
Buyer does not object in writing within _____ days of receipt, this contingency shall be deemed waived. If Buyer objects, the
Offer may be declared null and void by the Buyer, with earnest money returning to Buyer.
10 The obligation of the Buyer to close this transaction is subject to the Buyer obtaining approval of Buyer's attorney. If Buyer's
attorney does not object in writing within _____ days of acceptance of this Offer, this contingency shall be deemed waived. The
approval of Buyer's attorney shall not be unreasonably withheld. Approval shall be based upon the following standards: (1) The
sufficiency of the accepted Offer as to definiteness, certainty and enforceability; and (2) the suitability and sufficiency of the
conditions of the Offer for the protection of the Buyer in relation to the Buyer's particular financial and personal circumstances as
revealed by the Buyer to the reviewing attorney. If this Offer is disapproved based upon any of the foregoing standards, the
grounds for disapproval shall be stated by the Buyer's attorney with particularity.
Within _______ days of disapproval, the Buyer shall propose an amendment to the accepted Offer to cure the grounds for
disapproval. If the proposed amendment is rejected, the Offer is null and void at Buyer's option with earnest money returning to
11 Seller agrees to provide Buyer with a Comprehensive Loss Underwriting Exchange (CLUE) Report within _____ days of
acceptance at Seller's expense. This contingency shall be considered waived within 2 business days from Buyer's actual receipt
unless Buyer provides Seller with notice of unacceptability, at which time this offer may be declared null and void by the Buyer,
with earnest money returning to Buyer.
PURCHASE BY REAL ESTATE LICENSEE
12 It is understood that the Buyer has a valid real estate license in the state of Wisconsin and is purchasing this property for
(homestead) (investment) (STRIKE ONE) and may realize a profit from the subsequent resale. Purchase price may not reflect
actual market value.
13 Buyer and Seller shall meet within __________ days of acceptance to determine specifications, landscaping, builder warranty and
allowances, etc. This contingency shall be considered waived within two days of meeting unless Buyer delivers notice of
unacceptability to Seller, at which time this offer will be null and void with all earnest money returned to Buyer.
INFORMATION TO BE PROVIDED
14 This Offer is contingent upon Buyer's receipt and approval of _________________________________
_______________________________________________. Seller to provide Buyer with said information within ______ days of
acceptance. This contingency shall be considered waived within 2 business days from Buyer's actual receipt unless Buyer
provides Seller with written notice of unacceptability at which time this Offer may be declared null and void by the Buyer, with
earnest money returning to Buyer.
Buyer(s) Date Seller(s) Date
Prudential Community Realty