forms g.p.s. 2019 - storage.googleapis.com

EnVision Real Estate School and Consulting, Inc.

Author: Janis Mooney

Course Approval Number: E0989

FORMS G.P.S. 2019

Guiding Professional Services

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FORMS G.P.S. 2019 GUIDING

PROFESSIONAL SERVICES

1. AGENCY DISCLOSURE BROCHURE

2. RE-21 PURCHASE AND SALE AGREEMENT

a. EARNEST MONEY:

i. When is it turned into the office?

ii. Delayed EM

iii. Promissory Notes

8 specific areas where Purchase & Sale agreement allows buyer to terminate contract &

receive EM…

1. Financing

2. Appraisal

3. Marketable Title & CC&Rs

4. Home Inspection (2)

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6. Lead-Based Paint

7. Risk of Loss

8. Seller Default

1. FINANCING

1. Types of loans

2. Changes in financing

3. Loan commitment timeframe

From the Legal Hotline:

Are buyers entitled to their earnest money if they failed to disclose a

contingency of the loan?

QUESTION: Agent represents seller. Buyer of real estate property acquired a

loan that was contingent upon buyer selling their first home. The buyer’s loan

contingency was not disclosed to the seller and seller’s agent. The transaction

was not completed because lender would not finance the transaction. Agent

would like to know if Buyer was in violation of the RE-21 because they did not

make their loan contingency known on the financial portion of the RE-21.

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LEGAL HOTLINE OPINION:

_________________________________________________________________________________

_________________________________________________________________________________

b. OTHER TERMS & CONDITIONS

i. Repetition of pre-printed language

ii. Typical items

iii. Practicing law?

iv. Included & excluded items

c. TITLE INSURANCE/CONVEYANCE

i. What is “clear title”?

ii. RESPA regulations

iii. Types of coverage

3. RE-10 CONTINGENCY NOTICE

a. HOME INSPECTIONS

GROUP EXERCISE: Discuss whether the lender should receive a copy of the RE-10

Inspection Contingency Notice Form


_________________________________________________________________________________

_________________________________________________________________________________

i. Primary/secondary inspections

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ii. Timeframes

iii. Removal of contingencies

From the Legal Hotline:

Should parties sign the RE-10 and RE-20 when terminating a

contract?

QUESTION: Broker questions if the Notice to Terminate Contract (RE-10)

and Release of Earnest Money (RE-20) should be signed when the buyer

terminates based on an unsatisfactory inspection and both parties have

signed the RE-10.


_________________________________________________________________________________

_________________________________________________________________________________

b. LEAD-BASED PAINT

c. AGENCY DISCLOSURE

i. Does your broker offer “Assigned Agency”?

ii. Is it a “Limited Dual Agency” situation? (in-office)

iii. Does your broker have one representation agreement or two?

4. RE-11 ADDENDUM

5. RE-12 COMPENSATION AGREEMENT WITH SELLER

6. RE-13 COUNTER OFFER

a. Acceptance subject to expiration dates/times

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7. RE-14 BUYER REPRESENTATION AGREEMENT

a. Confidentiality duty of buyer’s representative

b. Does the seller or seller’s representative owe a duty of confidentiality

to buyer?

c. Limited Dual Agency vs. Single Agency

d. Compensation

i. - Cooperating brokers

ii. - For Sale By Owner/Custom-Build Job

iii. - Compensation on a Lease

iv. - Retainer fee/hourly rate

8. RE-16 SELLER REPRESENTATION AGREEMENT

a. Compensation to listing office/cooperating brokers

b. Limited Dual Agency vs. Single Agency

9. RE-17 FINANCING ADDENDUM

10. RE-18 BACK-UP OFFER ADDENDUM

11. RE-20 NOTICE TO TERMINATE CONTRACT AND

RELEASE OF EARNEST MONEY

12. RE-25 SELLER’S PROPERTY CONDITION

DISCLOSURE FORM

13. RE-25A

14. RE-32 MULTIPLE COUNTER OFFER

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15. RE-41 AGENCY REPRESENTATION &

RESPONSIBLE BROKER DISCLOSURE

16. RE-50 DELAYED POSSESSION RENTAL

AGREEMENT

17. RE-51 RENTAL AGREEMENT – OCCUPANCY PRIOR

TO CLOSING

Effective July 1, 2012

A Consumer Guide to Understanding

Agency Relationships in Real Estate Transactions

Duties owed to Idaho consumers by a real estate brokerage and its licensees are defined in the “Idaho Real Estate Brokerage Representation Act.” Idaho Code 54-2082 through 54-2097.

This informational brochure is published by the Idaho Real Estate Commission.

Effective July 1, 2019

Idaho law says a real estate brokerage and its licensees owe the following “Customer” duties to all consumers in real estate transactions:

• Perform necessary and customary acts to assist you in the purchase or sale of real estate;

• Perform these acts with honesty, good faith, reasonable skill and care;

• Properly account for money or property you place in the care and responsibility of the brokerage; and

• Disclose “adverse material facts” which the licensee knows or reasonably should have known. These are facts that would significantly affect the desirability or value of the property to a reasonable person, or facts establishing a reasonable belief that one of the parties cannot, or does not intend to, complete obligations under the contract.

If you are a Customer, a real estate licensee is not required to promote your best interests or keep your bargaining information confidential. If you use the services of a licensee and brokerage without a written Representation (Agency) Agreement, you will remain a Customer throughout the transaction.

A Compensation Agreement is a written contract that requires you to pay a fee for a specific service provided by a brokerage, and it is not the same as a Representation Agreement. If you sign a Compensation Agreement, you are still a Customer, but the brokerage and its licensees owe one additional duty:

• Be available to receive and present written offers and counter-offers to you or from you.

If you want a licensee and brokerage to promote your best interests in a transaction, you can become a “Client” by signing a Buyer or Seller Representation (Agency) Agreement. A brokerage and its licensees will owe you the following Client duties, which are greater than the duties owed to a Customer:

• Perform the terms of the written agreement;

• Exercise reasonable skill and care;

• Promote your best interests in good faith, honesty, and fair dealing;

• Maintain the confidentiality of your information, including bargaining information, even after the representation has ended;

• Properly account for money or property you place in the care and responsibility of the brokerage;

• Find a property for you or a buyer for your property, and assist you in negotiating an acceptable price and other terms and conditions for the transaction;

• Disclose all “adverse material facts” which the licensee knows or reasonably should have known, as defined above; and

• Be available to receive and present written offers and counter-offers to you or from you.

The above Customer or Client duties are required by law, and a licensee cannot agree with you to modify or eliminate any of them.

If you have any questions about the information in this brochure, contact: Idaho Real Estate Commission

(208) 334-3285 irec.idaho.gov

“Agency” is a term used in Idaho law that describes the relationships between a licensee and some parties to a real estate transaction.

Agency Disclosure Brochure

Right Now You Are a Customer

You May Become a Client

http://www.irec.idaho.gov/

http://www.irec.idaho.gov/

Under “Agency Representation” (sometimes referred to as “Single Agency”), you are a Client and the licensee is your

Agent who represents you, and only you, in your real estate transaction. The entire brokerage is obligated to promote your best interests. No licensee in the brokerage is allowed to represent the other party to the transaction.

If you are a seller, your Agent will seek a buyer to purchase your property at a price and under terms and conditions acceptable to you, and assist with your negotiations. If you request it in writing, your Agent will seek reasonable proof of a prospective purchaser’s financial ability to complete your transaction.

If you are a buyer, your Agent will seek a property for you to purchase at an acceptable price and terms, and assist with your negotiations. Your Agent will also advise you to consult with appropriate professionals, such as inspectors, attorneys, and tax advisors. If disclosed to all parties in writing, a brokerage may also represent other buyers who wish to make offers on the same property you are interested in purchasing.

“Limited Dual Agency” means the brokerage and its licensees represent both the buyer and the seller as Clients in the same transaction. The brokerage must have both the

buyer’s and seller’s consent to represent both parties under Limited Dual Agency. You might choose Limited Dual Agency because you want to purchase a property listed by the same brokerage, or because the same brokerage knows of a buyer for your property. There are two kinds of Limited Dual Agency:

Without Assigned Agents The brokerage and its licensees are Agents for both Clients equally and cannot advocate on behalf of one client over the other. None of the licensees at the brokerage can disclose confidential client information about either Client. The brokerage must otherwise promote the non-conflicting interests of both Clients, perform the terms of the Buyer and Seller Representation Agreements with skill and care, and other duties required by law.

With Assigned Agents The Designated Broker may assign individual licensees within the brokerage (“Assigned Agents”) to act solely on behalf of each Client. An assigned Agent has a duty to promote the Client’s best interests, even if your interests conflict with the interests of the other Client, including negotiating a price. An Assigned Agent must maintain the Client’s confidential information. The Designated Broker is always a Limited Dual Agent for both Clients and ensures the Assigned Agents fulfill their duties to their respective clients.

A Buyer or Seller Representation Agreement or Compensation Agreement should answer these questions:

• When will this agreement expire?

• What happens to this agreement when a transaction is completed?

• Can I work with other brokerages during the time of my agreement?

• Can I cancel this agreement, and if so, how?

• How will the brokerage get paid?

• What happens if I buy or sell on my own?

• Under an Agency Representation Agreement am I willing to allow the brokerage to represent both the other party and me in a real estate transaction?

Real Estate Licensees Are Not Inspectors Unless you and a licensee agree in writing, a brokerage and its licensees are not required to conduct an independent inspection of a property or verify the accuracy or completeness of any statements or representations made regarding a property. To learn about the condition of a property, you should obtain the advice of an appropriate professional, such as a home inspector, engineer or surveyor.

Audio/Video Surveillance Use caution when discussing anything while viewing a property; audio or video surveillance equipment could be in use on listed properties.

---------------------------------------------------------------------------------------------------------------------------------------------------- RECEIPT ACKNOWLEDGED

By signing below, you acknowledge only that a licensee gave you a copy of this Agency Disclosure Brochure. This document is not a contract, and signing it does not obligate you to anything.

Signature _______________________________________________________ Date___________________

Signature _______________________________________________________ Date___________________

Agency Representation (Single Agency)

Limited Dual Agency

Rev 07/01/19

If you sign a Representation Agreement or Compensation Agreement with a licensee, the contract is actually between you and the licensee’s brokerage. The Designated Broker is the only person authorized to modify or cancel a brokerage contract.

The licensee who gave you this brochure is licensed with:

Name of Brokerage: Phone: __________________

What to Look For in Any Written Agreement with a Brokerage

RE-10 INSPECTION CONTINGENCY NOTICE JULY 2019 EDITION

Page 1 of 2

THIS IS A LEGALLY BINDING CONTRACT, READ THE ENTIRE DOCUMENT, INCLUDING ANY ATTACHMENTS. IF YOU HAVE ANY QUESTIONS, CONSULT YOUR ATTORNEY AND/OR ACCOUNTANT BEFORE SIGNING.

BUYER'S Initials ( )( ) Date SELLER'S Initials ( )( ) Date This form is printed and distributed by the Idaho Association of REALTORS®, Inc. This form has been designed and is provided for use by the real estate professionals who are members of the

Idaho Association of REALTORS®. USE BY ANY OTHER PERSON IS PROHIBITED. ©Copyright Idaho Association of REALTORS®, Inc. All rights reserved. JULY 2019 EDITION RE-10 INSPECTION CONTINGENCY NOTICE Page 1 of 2

This NOTICE dated: 1

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This NOTICE pertains to the Purchase and Sale Agreement Dated: ID#: ____________________ 3

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ADDRESS: 5

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BUYER: 7

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SELLER: 9

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This is a BUYER NOTICE to the SELLER. This is a SELLER NOTICE to the BUYER. 11

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This NOTICE pertains to: 13

The Primary Inspection contingency 14

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The Secondary Inspection contingency; specifically: 16

Domestic Well Water Potability and/or Productivity Test 17

Septic Inspection and required Pumping 18

Survey 19

Other Inspection #1: _____________________________________________ 20

Other Inspection #2: _____________________________________________ 21

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Provision of this notice shall not affect BUYER’S rights regarding other unrelated notices or inspections. 23

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BUYER hereby confirms that BUYER has had the opportunity to and/or did complete all inspections, investigations, tests, surveys and has 25

reviewed all applicable documents and disclosures as related to the inspection(s) indicated above. BUYER hereby asserts to SELLER 26

(without releasing the inspection contractor) that such inspection(s) if any was/were performed in a diligent, prudent, thorough and competent 27

manner and that such inspector(s) was/were chosen by the BUYER and qualified to inspect the property. 28

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1. REMOVAL OF INSPECTION CONTINGENCY. The BUYER unconditionally removes the contingency related to the inspection(s) 30

stated above. 31

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2. ITEMS TO BE ADDRESSED. Subject to the request(s) specifically set forth below, and the rights set forth in the Purchase 33

Sale Agreement, the BUYER hereby removes the contingency related to the inspection(s) stated above. BUYER specifically 34

reserves the walk-through inspection provisions and other inspection rights as set forth in the Purchase and Sale Agreement. 35

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BUYER and SELLER agree (if more than one box is checked the parties agree all checked off duties will be performed): 37

SELLER will credit BUYER $____________at closing. 38

Purchase Price to be reduced to $_________________. 39

Other terms listed below 40

SELLER will service, repair or replace, in a good and workmanlike manner, the following items/conditions on or in the property within 41

_____business days (ten [10] if left blank) from final acceptance of this notice by all parties. BUYER shall have the right to re-inspect only 42

the item(s) identified below to satisfy the BUYER that any agreed upon service, repair or replacement is acceptable to the BUYER. 43

BUYER shall not unreasonably withhold acceptance of the service, repair or replacement. 44

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Teaching Sample

JULY 2019 EDITION RE-10 INSPECTION CONTINGENCY NOTICE Page 2 of 2 PROPERTY ADDRESS: ID#:

This form is printed and distributed by the Idaho Association of REALTORS®, Inc. This form has been designed and is provided for use by the real estate professionals who are members of the Idaho Association of REALTORS®. USE BY ANY OTHER PERSON IS PROHIBITED. ©Copyright Idaho Association of REALTORS®, Inc. All rights reserved.

JULY 2019 EDITION RE-10 INSPECTION CONTINGENCY NOTICE Page 2 of 2

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3. TERMINATION PROVISION. BUYER deems the results of the inspection stated above to be unsatisfactory. As a result, BUYER 82

hereby terminates the Purchase and Sale Agreement and the Earnest Money shall be returned to BUYER, unless Earnest Money has 83

previously become non-refundable. BUYER and SELLER further agree to release brokers and their associates from any claims, actions 84

and demands by reason of releasing and disbursing of said earnest money deposit. 85

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To the extent the terms of this NOTICE modify or conflict with any provisions of the Purchase and Sale Agreement including all prior 87

Addendums, these terms shall control. All other terms of the Purchase and Sale Agreement including all prior Addendums, or Counter Offers 88

not modified by this NOTICE shall remain the same. Upon execution by both parties, this NOTICE is made an integral part of the 89

aforementioned Purchase and Sale Agreement. 90

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BUYER’S AND SELLER’S SIGNATURES: 93

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BUYER: Date: Time:_________ 95

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BUYER: Date: Time:_________ 97

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SELLER: Date: Time:_________ 99

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SELLER: Date: Time:_________ 101

Teaching Sample

ADDENDUM #____________ (All addendums shall be numbered sequentially.)

RE-11 ADDENDUM

JULY 2019 EDITION Page 1 of 1



JULY 2019 EDITION RE-11 ADDENDUM Page 1 of 1

Today’s Date: 1 2 This is an ADDENDUM to the �� Purchase and Sale Agreement � Other 3 (“Addendum” means that the information below is added material for the agreement {such as lists or descriptions} and/or means the form is 4 being used to change, correct or revise the agreement {such as modification, addition or deletion of a term}). 5 6 AGREEMENT DATED: ID # 7 8 ADDRESS: 9 10 BUYER(S): 11 12 SELLER(S): 13 14 The undersigned parties hereby agree as follows: 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 To the extent the terms of this ADDENDUM modify or conflict with any provisions of the Purchase and Sale Agreement including all prior 48 Addendums or Counter Offers, these terms shall control. All other terms of the Purchase and Sale Agreement including all prior 49 Addendums or Counter Offers not modified by this ADDENDUM shall remain the same. Upon its execution by both parties, this agreement 50 is made an integral part of the aforementioned Agreement. 51 52 BUYER: Date: 53 54 BUYER: Date: 55 56 SELLER: Date: 57 58 SELLER: Date: 59

Teaching Sample

RE-13 COUNTER OFFER #____________ (1,2,3 etc.)

THIS COUNTER OFFER SUPERSEDES ALL PRIOR COUNTER OFFERS




JULY 2019 EDITION RE-13 COUNTER OFFER Page 1 of 1

Today’s Date: 1

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This is a COUNTER OFFER to the Purchase and Sale Agreement Dated: 3

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ADDRESS: ID#: 5

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BUYER: 7

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SELLER: 9

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The parties accept all of the terms and conditions in the above-designated Purchase and Sale Agreement with the following changes: 11

This is a SELLER counter offer. The SELLER reserves the right to withdraw this offer or accept any other offers prior to the receipt of a 12

true copy of signed acceptance of this Counter Offer within the time frame specified herein. 13

This is a BUYER counter offer. The undersigned BUYER reserves the right to withdraw this offer at any time prior to the receipt of a 14

true copy of signed acceptance of this Counter Offer within the time frame specified herein. 15

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To the extent the terms of this Counter Offer modify or conflict with any provisions of the Purchase and Sale Agreement including all prior 40

Addendums, the terms in this Counter Offer shall control. All other terms of the Purchase and Sale Agreement including all prior 41

Addendums not modified by this Counter Offer shall remain the same. Buyer and Seller acknowledge the down payment and/or loan 42

amount on Page 1 of Purchase & Sale Agreement may change if purchase price is changed as part of this Counter Offer. If original offer 43

has expired, has been revoked and/or acceptance is late, then mutual execution of this Agreement shall constitute consent to revive and 44

retender the original offer. Upon its execution by both parties, this agreement is made an integral part of the aforementioned Agreement. 45

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If a signed acceptance is not delivered on or before (date): at A.M. P.M. 47

this Counter Offer shall be deemed to have expired. 48

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DELIVERY: Delivery shall be to the agent/broker working with the maker of the Counter Offer in person, by mail, facsimile or electronic 50

transmission of any signed original document, and retransmission of any signed original document. Retransmission of any signed facsimile 51

or electronic transmission shall be deemed to be the same as delivery of an original. 52

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SELLER Date Time A.M. P.M. 54

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SELLER Date Time A.M. P.M. 56

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BUYER Date Time A.M. P.M. 58

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BUYER Date Time A.M. P.M. 60

Teaching Sample

RE-14 BUYER REPRESENTATION AGREEMENT (EXCLUSIVE RIGHT TO REPRESENT)



BUYER’S Initials ( ) ( ) Date:


JULY 2019 EDITION RE-14 BUYER REPRESENTATION AGREEMENT Page 1 of 3

DATE: AGENT: 1

Acting as Agent for the Broker 2

1. BUYER 3

4

retains Broker of 5

as exclusive Buyer Broker (hereinafter referred to as Broker), where the BUYER is represented by one Broker only for time herein 6

set forth and for the express purpose of Representing BUYER in the purchase, lease, or optioning of real property referenced 7

below. Further, BUYER agrees, warrants and acknowledges that BUYER has not and shall not enter into any buyer representation 8

agreement with another broker in the state of Idaho as a broker for BUYER during the effective term of this agreement, unless 9

otherwise agreed to in writing by BUYER and above-listed Broker. BUYER agrees to indemnify and hold the above-listed Broker 10

harmless from any claim brought by any other broker or real estate salesperson for compensation claimed or owed during the 11

effective term of this agreement. By appointing Broker as BUYER’S exclusive agent, BUYER agrees to conduct all negotiations 12

for property through Broker, and to refer to Broker all inquiries received in any form from real estate brokers, salespersons, 13

prospective sellers, or any other source, during the time this Buyer Representation Agreement is in effect. BUYER desires to 14

purchase, lease, or option the real estate described below: 15

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Residential Residential Income Commercial Vacant Land Custom Build Job 17

Other 18

Applicable City(s) , Idaho; 19

Applicable County(s) 20

Other Description: (i.e., geographical area, price, etc.) 21

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2. TERM OF AGREEMENT: This BUYER REPRESENTATION AGREEMENT (herein after referred to as Agreement) is in force from 23

date_______________ and will expire at 11:59 p.m. on date_______________, or upon closing of escrow of such property purchased 24

through this agreement whichever is sooner. If the BUYER accepts an offer to purchase or exchange, the terms of this Agreement shall be 25

extended through the closing of the transaction. 26

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3. BROKER REPRESENTATIONS AND SERVICES: The Broker and Broker’s agent representing a BUYER are agents of the BUYER. 28

Broker will use reasonable efforts as BUYER’S agent to locate property as described in Section One hereof from the information available 29

in the Multiple Listing Service (MLS) and from other sources for unlisted property that the Broker may be aware of when applicable as set 30

forth in Section One. The Broker’s duty to locate property for the BUYER is limited to the properties that the Broker is aware of and does 31

not include a duty to discover every unlisted property that may be privately advertised. Broker shall make submissions to BUYER 32

describing and identifying properties that substantially meet the criteria set forth in Section One, for consideration of the BUYER and Broker 33

agrees to negotiate acceptance of any offer to purchase or lease such property. 34

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4. TRANSACTION RELATED SERVICES DISCLAIMER: BUYER understands that Broker is qualified to advise BUYER on general 36

matters concerning real estate but may not offer legal advice and is not an expert in matters of law, tax, financing, surveying, structural 37

conditions, property inspections, water rights, mineral rights, hazardous materials, or engineering. BUYER acknowledges that Broker 38

advises BUYER to seek expert assistance for advice on such matters. Broker cannot warrant the condition of property to be acquired or 39

guarantee that all material facts are disclosed by the Seller. Broker will not investigate the condition of any property including 40

without limitation: the status of permits, zoning, location of property lines, square footage, marketability of title, applicability or 41

enforceability of CC&R’s, possible loss of views and/or compliance of the property with applicable laws, codes or ordinances and BUYER 42

must satisfy themself concerning these issues by obtaining the appropriate expert advice. The Broker or Broker’s agent may, during the 43

course of the transaction, identify individuals or entities who perform services including BUT NOT LIMITED TO the following; home 44

inspections, service contracts, appraisals, environmental assessment inspections, code compliance inspections, title insurance, closing and 45

escrow services, loans and refinancing services, construction and repairs, legal and accounting services, and/or surveys. The BUYER 46

understands that the identification of service providers is solely for BUYER’S convenience and that the Broker and its agent are not 47

guaranteeing or assuring that the service provider will perform its duties in accordance with the BUYER’S expectations. BUYER has the 48

right to make arrangements with any entity BUYER chooses to provide these services. BUYER hereby releases and holds harmless the 49

Broker and Broker’s agent from any claims by the BUYER that service providers breached their agreement, were negligent, 50

misrepresented information, or otherwise failed to perform in accordance with the BUYER’S expectations. In the event the BUYER 51

requests Broker to obtain any products or services from outside sources, BUYER agrees to pay for them immediately when payment is 52

due. For example: surveys or engineering, environmental and/or soil tests, title reports, home or property inspections, appraisals, etc. 53

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5. FINANCIAL INFORMATION: BUYER agrees to provide Broker and/or Broker’s agent with certain pertinent financial information 55

necessary to prove ability to purchase desired property. 56

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6. OTHER POTENTIAL BUYERS: BUYER understands that other potential buyers may consider, make offers on, or purchase through 58

Broker the same or similar properties as BUYER is seeking to acquire. BUYER consents to Broker’s representation of such other potential 59

buyers before, during, and after the expiration of this Agreement and further releases Broker of any conflicting Agency duties. 60

Teaching Sample


BUYER’S NAME(S)

BUYER’S Initials ( ) ( ) Date:



7. LIMITS OF CONFIDENTIALITY OF OFFERS: BUYER understands that an offer submitted to a seller, and the terms thereof may not be 61

held confidential by such seller or seller’s representative unless such confidentiality is otherwise agreed to by the parties. 62

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8. CONSENT TO LIMITED DUAL REPRESENTATION AND ASSIGNED AGENCY: The undersigned BUYER(S) have received, read and 64

understand the Agency Disclosure Brochure (prepared by the Idaho Real Estate Commission). The undersigned BUYER(S) understand 65

that the brokerage involved in this transaction may be providing agency representation to both the BUYER(S) and the Seller. The 66

undersigned BUYER(S) each understands that, as an agent for both BUYER/client and Seller/client, a brokerage will be a limited dual 67

agent of each client and cannot advocate on behalf of one client over another and cannot legally disclose to either client certain confidential 68

client information concerning price negotiations, terms or factors motivating the BUYER/client to buy or the Seller/client to sell without 69

specific written permission of the client to whom the information pertains. The specific duties, obligations and limitations of a limited dual 70

agent are contained in the Agency Disclosure Brochure as required by §54-2085, Idaho Code. The undersigned BUYER(S) each 71

understands that a limited dual agent does not have a duty of undivided loyalty to either client. 72

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The undersigned BUYER(S) further acknowledge that, to the extent the brokerage firm offers assigned agency as a type of agency 74

representation, individual sales associates may be assigned to represent each client to act solely on behalf of the client consistent with 75

applicable duties set forth in §54-2087, Idaho Code. In an assigned agency situation, the designated broker (the broker who supervises the 76

sales associates) will remain a limited dual agent of the client and shall have the duty to supervise the assigned agents in the fulfillment of 77

their duties to their respective clients, to refrain from advocating on behalf of any one client over another, and to refrain from disclosing or 78

using, without permission, confidential information of any other client with whom the brokerage has an agency relationship. 79

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BUYER NOTIFICATION AND CONSENT TO RELEASE FROM CONFLICTING AGENCY DUTIES: BUYER acknowledges that Broker 81

as named above has disclosed the fact that at times Broker acts as agent(s) for other BUYERS and for Sellers in the sale of the property. 82

BUYER has been advised and understands that it may create a conflict of interest for Broker to introduce BUYER to a Seller Client’s 83

property because Broker could not satisfy all of its Client duties to both BUYER Client and Seller Client in connection with such a showing 84

or any transaction which resulted. Based on the understandings acknowledged, BUYER makes the following election. 85

(Make one election only) 86

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______ / ______ BUYER DOES WANT to be introduced to Seller client’s property and hereby agrees to relieve Broker of conflicting 89

Initials agency duties, including the duty to disclose confidential information known to the Broker at the time and the duty 90

Limited Dual Agency of loyalty to either party. Relieved of all conflicting agency duties, Broker will act in an unbiased manner to assist 91

and/or the BUYER and Seller in the introduction of BUYER to such Seller client’s property and in the preparation of any 92

Assigned Agency contract of sale which may result. BUYER authorizes Broker to act in a limited dual agency capacity. Further, 93

BUYER agrees that Broker may offer, but is not obligated to offer, assigned agency representation, and if offered 94

by the Broker, BUYER authorizes Broker to act in such capacity. 95

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______ / ______ BUYER DOES NOT WANT to be introduced to Seller client’s property and hereby releases Broker from any 99

Initials responsibility or duty under the agency agreement. Broker shall be under no obligation or duty to introduce the 100

Single Agency BUYER to any Seller client’s property. 101

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9. NON-DISCRIMINATION: The parties agree not to discriminate against any prospective Seller or Lessor because of race, religion, 104

creed, color, sex, marital status, national origin, familial, or handicapped status of such person. 105

10. SEVERABILITY CLAUSE: In the case that any one or more of the provisions contained in this Agreement, or any application thereof, 106

shall be invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of the remaining provisions shall not in any way 107

be affected or impaired thereby. 108

11. SINGULAR AND PLURAL terms each include the other, when appropriate. 109

12. DEFAULT / ATTORNEY’S FEES: In the event of default by BUYER under this Agreement, Broker shall be entitled to the Fee that 110

Broker would have received had no default occurred, in addition to other available legal remedies. In the event of any suit or other 111

proceeding arising out of this Agreement, the prevailing party shall be entitled to its reasonable attorney’s fees and all costs incurred 112

relative to such suit or proceeding, including fees and costs upon appeal. Venue of any action arising out of this Agreement shall be in the 113

court of the county in which Broker’s office is located. 114

13. EARNEST MONEY DISPUTE / INTERPLEADER: Notwithstanding any termination or breach of this Agreement, BUYER and SELLER agree that 115

in the event of any controversy regarding the Earnest Money and things of value held by Broker or closing agency, Broker may reasonably rely on the terms 116

of this Agreement or other written documents signed by both parties to determine how to disburse the disputed money. However, Broker or closing agency 117

shall not be required to take any action but may await any proceeding, or at Broker's or closing agency's option and sole discretion, may interplead all parties 118

and deposit any moneys or things of value into a court of competent jurisdiction and shall recover all costs which were incurred as a result of the dispute 119

including, but not limited to, reasonable attorney's fees. If either parties’ Broker incurs attorney’s fees as a result of any Earnest Money dispute, whether or 120

not formal legal action is taken, said Broker is entitled to recover actual fees incurred from either BUYER or SELLER. 121

OR Teaching Sample


BUYER’S NAME(S)



14. COMPENSATION OF BROKER: In consideration of the services to be performed by the Broker, BUYER agrees that broker may be 122

compensated in any of the following ways: Check all that apply. 123

A. If the property is subject to a listing agreement with the Broker’s Company or a cooperating Broker through the Multiple 124

Listing Service (MLS) or otherwise, the fee will be the amount equal to the compensation offered by the aforementioned Brokers but 125

not less than % of the selling price. BUYER agrees to pay to the Broker any difference between the amount received from 126

the aforementioned Brokers and the stated minimum. 127

B. If the property is not subject to a Listing Agreement, such as a For Sale By Owner or a Custom Build Job, the BUYER agrees 128

that the Broker will be paid a fee of not less than % of selling price OR $ The Broker shall first seek to 129

obtain this fee through the transaction paid by the Seller. If the fee cannot be obtained through the Seller, the BUYER will be 130

responsible for such fee stated above. 131

C. If the property is leased by BUYER, then BUYER agrees to pay a total brokerage fee of the greater of: % of the 132

total Base Rent OR _____ month’s rent OR a one-time flat fee of $_______. The Broker shall first seek to obtain this fee through the 133

transaction paid by the lessor. If the fee cannot be obtained through the lessor, then BUYER will be responsible for the fee. ‘Base 134

Rent’ is defined as the specific minimum rent owed by BUYER to lessor each year. In addition, if the lease is a ‘lease to own’ contract, 135

or if the BUYER exercises an option to purchase under the lease, then in addition to the compensation for lease procurement specified 136

in this paragraph (C), Broker shall also be entitled to any compensation for sale as enumerated in paragraphs (A) or (B) above. 137

D. Retainer Fee. BUYER will pay Broker a non-refundable retainer fee of $ due and payable upon signing of this 138

Agreement. Retainer fee shall shall not be credited against any compensation set forth in paragraph A or B. 139

E. Hourly rate. BUYER will pay Broker at the rate of $ per hour for the time spent by Broker pursuant to this 140

Agreement to be paid when billed whether or not BUYER acquires or leases property. The fee shall shall not be credited against 141

any compensation as set forth in paragraph A, B, or C. 142

This compensation shall apply to transactions made for which BUYER enters into a contract during the original term of this Agreement 143

or during any extension of such original or extended term, and shall also apply to transactions for which BUYER enters into a contract 144

within calendar days (ninety [90] if left blank) after this Agreement expires or is terminated, if the property acquired or leased by the 145

BUYER was submitted in writing to the BUYER by Broker pursuant to Section One hereof during the original term or extension of the term 146

of this Agreement. The fee shall be paid at closing or lease execution unless otherwise designated by the Broker in writing. The 147

closing agent for this transaction is hereby authorized to pay the above-mentioned compensation at closing. 148

In the event BUYER purchases any property as described in Section 1 above without using the representation of the Broker named 149

above within the time this agreement remains in force, above stated BUYER shall be liable to Broker for a cancellation fee equal to 150

_________% of the selling price of the property acquired or $ . 151

15. OTHER TERMS AND CONDITIONS: 152

153

154

16. COMMUNICATION: Failure of BUYER to reasonably maintain communication with BROKER is a breach of this agreement. 155

17. TRANSMISSION OF DOCUMENTS: Facsimile or electronic transmission of any signed original document, and retransmission of any 156

signed facsimile or electronic transmission shall be the same as delivery of an original. At the request of either the BUYER or SELLER, or 157

the LENDER, or the Closing Agency, the BUYER and SELLER will confirm facsimile or electronic transmitted signatures by signing an 158

original document. 159

18. WIRE TRANSFER WARNING: Electronic means of transferring money (i.e. ETF, wire transfer, electronic check, direct deposit, etc…) 160

are subject to sophisticated cyber fraud attacks. These attacks are even more prevalent in real estate transactions due to the large sums 161

of money being exchanged. BUYER is advised that Brokerage will not provide electronic transfer instructions by e-mail. Following money 162

transfer instructions contained in an email from any party is inherently dangerous and should be avoided. BUYER agrees that if BUYER 163

uses, or authorizes the use of, electronic transfer of funds in a transaction they hereby hold the Brokerages, their agents, and the 164

designated title and escrow company harmless from any and all claims arising out of inaccurate transfer instructions, fraudulent 165

interception of said funds and/or any other damage relating to the conduct of third parties influencing the transfer process or stealing funds. 166

19. AUTHORITY OF SIGNATORY: If BUYER is a corporation, partnership, trust, estate, or other entity, the person executing this 167

agreement on its behalf warrants his or her authority to do so and to bind BUYER. 168

20. MERGER AND TIME: TIME IS OF THE ESSENCE IN THIS AGREEMENT The terms hereof, and any addendums or exhibits 169

constitute the entire agreement and supersede all prior agreements, negotiations and discussions between parties. This agreement may be 170

modified only by a written agreement signed by each of the parties. 171

172

173

Buyer Signature Date Agent or Broker (on behalf of Brokerage) Signature Date 174

175

176

Buyer Signature Date Brokerage Address 177

178

179

Address Brokerage Phone Brokerage Fax 180

181

182

Phone Fax Brokerage Email 183

184

185

Email Agent/Broker Email 186

Teaching Sample

RE-16 SELLER REPRESENTATION AGREEMENT (EXCLUSIVE RIGHT TO REPRESENT)



SELLER’S Initials ( ) ( ) Date:

This form is printed and distributed by the Idaho Association of REALTORS®, Inc. This form has been designed and is provided for use by the real estate professionals who are members of the

Idaho Association of REALTORS®. USE BY ANY OTHER PERSON IS PROHIBITED. ©Copyright Idaho Association of REALTORS®, Inc. All rights reserved.

JULY 2019 EDITION RE-16 SELLER REPRESENTATION AGREEMENT Page 1 of 5

DATE: AGENT: 1

Acting as Agent for the Broker 2

1. SELLER 3

retains Broker of as 4

SELLER’S exclusive Broker to sell, lease, or exchange the property described below, (hereafter “Property”),on the terms stated herein or on 5

other terms agreed to in writing by SELLER in future negotiations with any BUYER. SELLER retains BROKER and grants to BROKER the 6

exclusive right to represent SELLER, where the SELLER is represented by only one broker for the duration stated herein and for the express 7

purpose of representing SELLER in the sale, lease or exchange of the Property. Further, SELLER agrees, warrants and acknowledges that 8

SELLER has not and shall not enter into any seller representation agreement with another broker to sell, lease or exchange the Property 9

during the effective term of this agreement. SELLER agrees to indemnify and hold the above-listed Broker harmless from any claim brought 10

by any other broker or real estate salesperson for compensation claimed for assisting SELLER during the duration of this agreement. By 11

appointing Broker as SELLER’S exclusive real estate broker, SELLER agrees to conduct all negotiations to sell the Property 12

through Broker, and to refer to Broker all inquiries or leads received in any form from real estate brokers, salespersons, prospective 13

buyers, or any other source, during the time this Exclusive Seller Representation Agreement is in effect. 14

2. PROPERTY ADDRESS AND/OR LEGAL DESCRIPTION. The property address and/or the complete legal description of the property are 15

as set forth below. 16

Address 17

County City State Idaho Zip 18

Legal and/or Property Description 19

20

or Legal and/or Property Description Attached as exhibit . (Exhibit must accompany this agreement and be signed 21

or initialed by SELLER.) 22

23

3. TERM OF AGREEMENT. The term of this Agreement shall commence on and shall expire at 11:59 24

p.m. on unless renewed or extended. If the SELLER accepts an offer to purchase or exchange, 25

the terms of this Agreement shall be extended through the closing of the transaction. 26

27

4. PRICE. SELLER agrees to sell the Property for a total price of $ 28

DOLLARS 29

30

5. FINANCING. SELLER agrees to consider the following types of financing: (Complete all applicable provisions). 31

FHA VA CONVENTIONAL IHFA RURAL DEVELOPMENT Exchange 32

Cash Cash to existing loan(s) Assumption of existing loan(s) 33

SELLER will carry contract and accept a minimum down payment of $ and an acceptable secured 34

note for the balance to be paid as follows: 35

36

37

Other acceptable terms 38

39

40

6. BROKERAGE FEE. 41

(A) If Broker or any person, including SELLER, procures a purchaser ready, willing and able to purchase, transfer or exchange the Property 42

on the terms stated herein or on any other price and terms agreed to in writing, the SELLER agrees to pay a total brokerage fee 43

of % of the contract or purchase price OR $ . Of this total brokerage fee, % of the contract purchase price 44

OR $ will be shared with the cooperating brokerage unless otherwise agreed to in writing. The fee shall be paid in cash 45

at closing and deducted from the seller’s proceeds on the settlement statement unless otherwise designated by the Broker in writing. 46

(B) If Broker procures a lessee ready, willing and able to lease the Property on the terms stated herein, or on any other price and terms 47

agreed to in writing, the SELLER agrees to pay a total brokerage fee of the greater of: % of the total base rent OR 48

month’s rent OR a one-time flat fee of $_______. Of this total brokerage fee, % of the total base rent 49

OR month’s rent OR a one-time flat fee of $_______ will be shared with the cooperating brokerage unless otherwise 50

agreed to in writing. Any applicable flat fee shall be paid in cash upon execution of the lease agreement unless otherwise designated by 51

the Broker in writing. Base rent is defined as the specific minimum rent owed by lessee to SELLER each month. In addition, if the lease 52

is a ‘lease to own’ contract, or if the lessee exercises an option to purchase under the lease, then in addition to the terms specified in this 53

section (b), Broker shall also be entitled to the brokerage fee enumerated in section (a) above. 54

(C) Further, the brokerage fee is payable if the Property or any portion thereof or any interest therein is, directly or indirectly, sold, 55

exchanged or optioned or agreed to be sold, exchanged or optioned within calendar days (ninety [90] if left blank) following 56

expiration of the term hereof to any person who has examined, been introduced to or been shown the Property during the term hereof; 57

unless SELLER enters into a Seller Representation Agreement to market said Property with another Broker. This subsection (C) shall 58

survive the term or termination of this Agreement unless explicitly revoked in a written document signed by Broker and Client. 59

Teaching Sample


PROPERTY ADDRESS:





(D) This is a contract for a specific term. In the event SELLER breaches this representation agreement by terminating it prior to its 60

expiration, said termination shall be deemed to be wrongful interference which prevented Broker from performing Broker’s duties hereunder 61

and as a special condition of this agreement SELLER shall be liable to Broker for a cancellation fee equal to __________% of the PRICE 62

enumerated in Section 4 above or $_______________. This cancellation fee is only available if Broker is not compensated under Sections 63

6A or 6B above. This fee shall be the minimum amount owed to Broker as SELLER may be liable for further payment to Broker if Broker 64

becomes obligated to pay third parties, including but not limited to commissions owed to Buyer’s agents if SELLER was under contract at 65

the time of breach. 66

7. ADDITIONAL FEES: 67

68

69

70

8. INCLUDED ITEMS. SELLER agrees to leave with the premises all seller-owned attached floor coverings, television wall mounts, satellite 71

dish, attached plumbing, bathroom and lighting fixtures, window screens, screen doors, storm doors, storm windows, window coverings, 72

garage door opener(s) and transmitter(s), exterior trees, plants or shrubbery, water heating apparatus and fixtures, attached fireplace 73

equipment, awnings, ventilating, cooling and heating systems, all ranges, ovens, built-in dishwashers, fuel tanks and irrigation fixtures and 74

equipment, if any, that are appurtenant thereto that are now on or used in connection with the premises and shall be included in the sale 75

unless otherwise provided herein. 76

Also included: 77

78

79

9. EXCLUDED ITEMS. 80

81

82

83

84

10. FARM/CROPS/TIMBER RIGHTS: SELLER, or any tenant of SELLER, shall be allowed to harvest, sell or assign any annual crops which 85

have been planted on the PROPERTY prior to the date of a purchase and sale agreement, even though said harvest time may occur 86

subsequent thereto, unless otherwise agreed to in writing. If the crop consists of timber, then neither SELLER nor any tenant of SELLERS 87

shall have any right to harvest the timber unless the right to remove same shall be established in writing. Notwithstanding the provisions 88

hereof, any tenant who shall be leasing the PROPERTY shall be allowed to complete the harvest of any annual crops that have been planted 89

prior to the date of Contract Acceptance as previously agreed between SELLER and Tenant. ANY AND ALL SUCH TENANT AGREEMENTS 90

ARE TO BE ATTACHED TO THE PURCHASE AND SALE AGREEMENT. 91

92

11. WATER & MINERAL RIGHTS: Any and all mineral rights appurtenant to the PROPERTY are included in and are part of the sale of this 93

PROPERTY, and are not leased or encumbered, unless otherwise disclosed by the SELLER in writing. Any and all water rights including but 94

not limited to water systems, wells, springs, lakes, streams, ponds, rivers, ditches, ditch rights, and the like, if any, appurtenant to the 95

PROPERTY are included in and are a part of the sale of this PROPERTY unless otherwise agreed to by the parties in writing. 96

97

12. TITLE AND EXISTING ENCUMBRANCES. Title to the Property is to be conveyed by Warranty Deed unless otherwise provided herein, 98

and is to be marketable and insurable except for rights reserved in federal patents, federal, state or railroad deeds, building or use restrictions, 99

building and/or zoning regulations and ordinances of any governmental entity, and rights of way and easements established or of record. 100

The individual executing this Agreement warrant and represents that said individual either owns the Property or has full power and right to 101

enter into this Agreement and to sell and convey the Property on behalf of the SELLER and that to the best of said individual’s knowledge 102

the Property is in compliance with all applicable building and zoning regulations and with any applicable covenants and restrictions affecting 103

the Property except: 104

105

106

107

108

The SELLER agrees to provide good and marketable title to the Property at the time of closing. The Property is currently encumbered by 109

the following liens: None 1st Mortgage 2nd Mortgage Home Equity Loan Other 110

111

If encumbered, the loan payments are current yes no; If no, the Property is is not currently under foreclosure proceedings. If 112

Property is currently or becomes involved in foreclosure proceedings, Idaho law requires certain additional disclosures to be provided in a 113

separate form and affixed to the Purchase and Sale Agreement. Foreclosure means that a trustee or beneficiary has filed a notice of default 114

in the county where the Property identified in Section 2 is situated and in addition to any statements required by Idaho law, the notice also 115

states that trustee or beneficiary has elected to sell the Property to satisfy the obligation. 116

117

SELLER is aware that some loans have a recapture provision or prepayment penalty and SELLER may be required to pay additional funds 118

to satisfy such recapture or penalty. 119

120

121

Teaching Sample


PROPERTY ADDRESS:





13. MULTIPLE LISTING SERVICE AUTHORIZATION. (Name of MLS) 122

_____/_____ By initialing this line, it is understood that Broker is a member of the above MLS. SELLER authorizes and directs Broker 123

(Initial) to offer to cooperate with and compensate other Brokers, and to submit a Property Data Sheet and any authorized 124

changes to MLS as required in the Rules and Regulations of the above MLS. SELLER understands and agrees that any 125

MLS information regarding the above Property will be made available to Buyer’s Agents and/or Dual Agents. SELLER 126

acknowledges that pursuant to Idaho Code §54-2083(6)(d), a “sold” price of real property is not confidential client 127

information. 128

14. LOCKBOX AUTHORIZATION. 129

_____/_____ By initialing this line, SELLER directs that a lockbox containing a key which gives MLS Keyholders access to the Property 130

(Initial) shall be placed on any building located on the Property. SELLER authorizes MLS Keyholders to enter said Property to 131

inspect or show the same. SELLER agrees to hold Broker harmless from any liability or loss. 132

133

15. AVM AND BLOGGING AUTHORIZATION. 134

SELLER does does not agree to allow for Automated Valuation Model (AVM). 135

SELLER does does not agree to allow blogging and or consumer comments. 136

137

16. ADVERTISING AUTHORIZATION. 138

SELLER does does not agree to allow listing documents and information to be displayed on the Internet. 139

SELLER does does not agree to allow address to be displayed on Internet. 140

SELLER does does not agree to allow Broker to advertise said Property in print media. 141

SELLER does does not agree to allow Broker to advertise said Property in other advertising media. 142

SELLER does does not agree to allow Broker to place the Broker’s sign on Property. 143

144

17. SELLER’S PROPERTY DISCLOSURE FORM. If required by Title 55, Chapter 25 Idaho Code, SELLER shall within ten (10) calendar 145

days after execution of a Purchase and Sale Agreement provide to Buyer “Seller’s Property Disclosure Form” and Buyer shall have three (3) business 146

days from receipt of the disclosure report to rescind the offer in a written signed and dated document delivered to the SELLER or the SELLER’S 147

Agents. Buyer rescission must be based on a specific written objection to a disclosure made in the Seller’s Property Disclosure Form. 148

18. LEAD BASED PAINT DISCLOSURE. SELLER has been advised of disclosure obligations regarding lead-based paint and lead-based 149

paint hazards in the event Property is a defined “Target Housing” under Federal Regulations. The term lead-based paint hazard is intended 150

to identify lead-based paint and all residential lead-containing dusts and soils regardless of the source of lead. 151

Said Property is is not “Target Housing”. If yes, SELLER agrees to sign and complete the Information Disclosure and Acknowledgment 152

Form provided and deliver to my agent all records, test reports or other information related to the presence of lead-based paint or lead-based 153

paint hazards, if any. Additionally, if any structure was built before 1978 and is a residential home, apartment or child-occupied facility such 154

as a school or day-care center, federal law requires contractors that disturb lead-based paint in that structure to provide the owner with a 155

“Renovate Right” pamphlet. The contractor shall be certified and follow specific work practices to prevent lead contamination 156

157

19. TRANSACTION RELATED SERVICES DISCLAIMER: SELLER understands that Broker is qualified to advise SELLER on general 158

matters concerning real estate, but may not offer legal or accounting advice and is not an expert in matters of law, tax, financing, surveying, 159

structural conditions, property inspections, water rights, mineral rights, hazardous materials, or engineering. SELLER acknowledges that 160

Broker advises SELLER to seek expert assistance for advice on such matters. The Broker or Broker’s agents may, during the course of the 161

transaction, identify individuals or entities who perform services including BUT NOT LIMITED TO the following; home inspections, service 162

contracts, appraisals, environmental assessment inspection, code compliance inspection, title insurance, closing and escrow services, loans 163

and refinancing services, construction and repair, legal and accounting services, and/or surveys. SELLER understands that the identification 164

of service providers is solely for SELLER’S convenience and that the Broker and their agents are not guaranteeing or assuring that the 165

service provider will perform its duties in accordance with SELLER’S expectations. SELLER has the right to make arrangements with any 166

entity SELLER chooses to provide these services. SELLER hereby releases and holds harmless the Broker and Broker’s agents from any 167

claims by SELLER that service providers breached their agreement, were negligent, misrepresented information, or otherwise failed to 168

perform in accordance with SELLER’S expectations. In the event SELLER requests Broker to obtain any products or services from outside 169

sources, SELLER agrees to pay for them immediately when payment is due. For example: surveys or engineering, environmental and/or 170

soil tests, title reports, home or property inspections, appraisals, etc. 171

172

20. CONSENT TO LIMITED DUAL REPRESENTATION AND ASSIGNED AGENCY: The undersigned SELLER has received, read and 173

understand the Agency Disclosure Brochure prepared by the Idaho Real Estate Commission. The undersigned SELLER understands that 174

the brokerage involved in this transaction may be providing agency representation to both SELLER and Buyer. The undersigned SELLER 175

each understands that, as an agent for both SELLER/client and Buyer/client, a brokerage will be a limited dual agent of each client and 176

cannot advocate on behalf of one client over another, and cannot legally disclose to either client certain confidential client information 177

concerning price negotiations, terms or factors motivating Buyer/client to buy or SELLER/client to sell without specific written permission of 178

the client to whom the information pertains. The specific duties, obligations and limitations of a limited dual agent are contained in the Agency 179

Disclosure Brochure as required by Section 54-2085, Idaho Code. The undersigned SELLER understands that a limited dual agent does not 180

have a duty of undivided loyalty to either client. 181

182

Teaching Sample


PROPERTY ADDRESS:





The undersigned SELLER further acknowledge that, to the extent the brokerage firm offers assigned agency as a type of agency 183

representation, individual sales associates may be assigned to represent each client to act solely on behalf of the client consistent with 184

applicable duties set forth in Section 54-2087, Idaho Code. In an assigned agency situation, the designated broker (the broker who supervises 185

the sales associates) will remain a limited dual agent of the client and shall have the duty to supervise the assigned agents in the fulfillment 186

of their duties to their respective clients, to refrain from advocating on behalf of any one client over another, and to refrain from disclosing or 187

using, without permission, confidential information of any other client with whom the brokerage has an agency relationship. 188

189

21. SELLER NOTIFICATION AND CONSENT TO RELEASE FROM CONFLICTING AGENCY DUTIES: SELLER acknowledges that Broker 190

as named above has disclosed the fact that at times Broker acts as agent(s) for other Buyers and for SELLERS in the sale of the Property. 191

SELLER has been advised and understands that it may create a conflict of interest for Broker to introduce Buyers to SELLER Client’s Property 192

because Broker could not satisfy all of its Client duties to both Buyer Client and SELLER Client in connection with such a showing or any 193

transaction which resulted. Based on the understandings acknowledged, SELLER makes the following election: (Make one selection 194

only) 195

196

_____ / _____ SELLER does want Broker to introduce any interested Client of Broker to Client SELLER’S Property and hereby 197

Initials agrees to relieve Broker of conflicting agency duties, including the duty to disclose confidential information known 198

Limited Dual Agency to the Broker at that time and the duty of loyalty to either party. Relieved of all conflicting agency duties, Broker will 199

and/or act in an unbiased manner to assist the SELLER and Buyer in the introduction of Buyers to such SELLER Client’s 200

Assigned Agency Property and in the preparation of any contract of sale which may result. SELLER authorizes Broker to act in a 201

limited dual agency capacity. Further, SELLER agrees that Broker may offer, but is not obligated to offer, 202

assigned agency representation, and if offered by the Broker, SELLER authorizes Broker to act in such capacity. 203

204

205

_____ / _____ SELLER does not want Broker to introduce interested Buyer Clients to Client SELLER’S Property and hereby 206

Initials releases Broker from any responsibility or duty under the agency agreement to do so. Broker shall be under no 207

Single Agency obligation or duty to introduce the Buyer to any Client SELLER’S Property. 208

22. OTHER POTENTIAL SELLERS AND BUYERS: SELLER understands that other potential buyers may consider, make offers on, or 209

purchase through Broker, the same or similar properties as SELLER is seeking to sell. SELLER also understands that other potential sellers 210

may consider, receive offers on, or sell through Broker, the same or similar properties as SELLER is seeking to sell. SELLER consents to 211

Broker’s representation of such other potential buyers and sellers before, during, and after the expiration of this Agreement and further 212

releases Broker of any conflicting Agency duties that may arise through said representation. 213

214

23. INFORMATION WARRANTY. SELLER warrants that all information provided by SELLER herein and hereafter will be true and correct. 215

Unless specifically stated in writing, SELLER grants Broker the right to share with prospective BUYERS any documents provided to Broker 216

and agrees said documents are not confidential, SELLER further and specifically affirms SELLER is authorized to share tenant information 217

with Broker and authorizes Broker to share the same with prospective BUYERS. 218

219

24. DEPOSIT. Brokers are authorized to receive a deposit from any prospective purchaser who offers to purchase or exchange the Property 220

and shall notify SELLER of the receipt of any such deposit. Acceptance of such deposit by a Broker shall not constitute SELLER’S acceptance 221

of any such offer. 222

223

25. COST REIMBURSEMENT: If BUYER defaults in the performance of any purchase and sale agreement procured under this Agreement, 224

and SELLER becomes entitled to Earnest Money, the holder of the Earnest Money shall pay out of the Earnest Money the costs incurred by 225

SELLER’S Broker related to the transaction, including, without limitation, title insurance, escrow fees, appraisal, credit report fees, inspection 226

fees and attorney fees. If SELLER elects to accept the Earnest Money as liquidated damages, the holder of the Earnest Money shall first 227

pay from the Earnest Money the aforementioned costs incurred by SELLER’S Broker, and then pay any balance of the Earnest Money, one-228

half to SELLER and one-half to SELLER’S Broker, provided the amount to be paid to SELLER’S Broker shall not exceed the Broker’s agreed-229

to commission. In the event SELLER defaults under any purchase and sale agreement procured under this Agreement, SELLER shall be 230

liable to Broker for any costs incurred by SELLER’s Broker related to this Agreement. 231

232

26. EARNEST MONEY DISPUTE / INTERPLEADER: Notwithstanding any termination or breach of this Agreement, BUYER and SELLER 233

agree that in the event of any controversy regarding the Earnest Money and/or items of value held by Broker or closing agency, Broker may 234

reasonably rely on the terms of this Agreement or other written documents signed by both parties to determine how to disburse the disputed 235

money. However, Broker or closing agency shall not be required to take any action but may await any proceeding, or at Broker's or closing 236

agency's option and sole discretion, may interplead all parties and deposit any moneys or things of value into a court of competent jurisdiction 237

and shall recover all costs which were incurred as a result of the dispute including, but not limited to, reasonable attorney's fees. If either 238

parties’ Broker incurs attorney’s fees as a result of any Earnest Money dispute, whether or not formal legal action is taken, said Broker is 239

entitled to recover actual fees incurred from either BUYER or SELLER. 240

241

242

OR

Teaching Sample


PROPERTY ADDRESS:



27. GENERAL PROVISIONS. In the event either party shall initiate any suit or action or appeal on any matter relating to this Agreement the 243

defaulting party shall pay the prevailing party all damages and expenses resulting from the default, including all reasonable attorneys’ fees 244

and all court costs, including fees and cost upon appeal, and other expenses incurred by the prevailing party. This Agreement is made in 245

accordance with and shall be interpreted and governed by the laws of the State of Idaho. All rights and obligations of the parties hereunder 246

shall be binding upon and inure to the benefit of their heirs, personal representatives, successors and assigns. 247

248

28. WIRE TRANSFER WARNING: Electronic means of transferring money (i.e. ETF, wire transfer, electronic check, direct deposit, etc…) 249

are subject to sophisticated cyber fraud attacks. These attacks are even more prevalent in real estate transactions due to the large sums 250

of money being exchanged. SELLER is advised that Brokerage will not provide electronic transfer instructions by e-mail. Following money 251

transfer instructions contained in an email from any party is inherently dangerous and should be avoided. SELLER agree that if SELLER 252

use, or authorize the use of, electronic transfer of funds in a transaction they hereby hold the Brokerages, their agents, and the designated 253

title and escrow company harmless from any and all claims arising out of inaccurate transfer instructions, fraudulent interception of said 254

funds and/or any other damage relating to the conduct of third parties influencing the transfer process or stealing funds. 255

256

29. NON-DISCRIMINATION. SELLER and Broker acknowledge that it is illegal to discriminate in the showing, sale or leasing of the Property 257

on the basis of race, religion, color, sex, marital status, national origin, familial, or handicapped status of such person. 258

259

30. SINGULAR AND PLURAL terms each include the other, when appropriate. 260

261

31. TRANSMISSION OF DOCUMENTS. Facsimile or electronic transmission of any signed original document and retransmission of any signed 262

facsimile or electronic transmission shall be the same as delivery of an original. At the request of either the BUYER or SELLER, or the lender, or the 263

Closing Agency, the BUYER and SELLER will confirm facsimile or electronic transmitted signatures by signing an original document. 264

265

32. MERGER AND TIME: TIME IS OF THE ESSENCE IN THIS AGREEMENT The terms hereof, and any addendums or exhibits 266

constitute the entire agreement and supersede all prior agreements, negotiations and discussions between parties. This agreement may be 267

modified only by a written agreement signed by each of the parties. 268

269

33. SEVERABILITY: In the case that any one or more of the provisions contained in this Agreement, or any application thereof, shall be 270

invalid, illegal or unenforceable in any respect, the validity, legality or enforceability of the remaining provisions shall not in any way be 271

affected or impaired thereby. 272

273

34. BROKERS ARE REQUIRED TO PRESENT ALL WRITTEN OFFERS UP UNTIL THE TIME OF CLOSING (per Idaho Code §54-2051). 274

275

35. COMMUNICATION: Failure of SELLER to reasonably maintain communication with BROKER is a breach of this agreement. 276

277

36. OTHER TERMS AND CONDITIONS: 278

279

280

281

282

283

CONTRACTOR REGISTRATION # (if applicable) 284

285

286

287

Seller Signature Date Agent or Broker (on behalf of Brokerage) Signature Date 288

289

290

Seller Signature Date Brokerage Address 291

292

293

Address City State Zip 294

295

296

City State Zip Brokerage Phone Brokerage Fax 297

298

299

Phone Fax Brokerage Email 300

301

302

Email Agent/Broker Email 303

Teaching Sample


RE-16A BROKER AGREEMENT ADDENDUM




JULY 2019 EDITION RE-16A BROKER AGREEMENT ADDENDUM Page 1 of 1

Date: MLS# (if applicable): 1

2

Property Address (if applicable): 3

4

This is an ADDENDUM to the: 5

Buyer Representation Agreement 6

Seller Representation Agreement 7

Compensation Agreement with Buyer 8

Compensation Agreement with Seller 9

10

The above indicated agreement is hereafter referred to as the Original Broker Agreement (“Addendum” means that the information below is 11

added to the Original Broker Agreement {such as lists or descriptions} and/or means this form is being used to change, correct or revise the 12

agreement {such as modification, addition or deletion of a term}). 13

14

ORIGINAL BROKER AGREEMENT DATED: 15

16

BROKER: 17

18

BUYER(S) or SELLER(S): 19

20

The undersigned parties hereby agree to amend the above stated Original Broker Agreement as follows: 21

22

The TERM of the Original Broker Agreement is modified and shall now expire at 11:59 p.m. on _____________. 23

24

The TERM of the Original Broker Agreement shall expire immediately. 25

26

The PRICE stated in the Original Broker Agreement is changed to $______________________________________________________. 27

28

The BROKERAGE FEE is changed to a total brokerage fee of _______% of the contract or purchase price OR $_____________. 29

30

The representation shall be a co-listing agreement with the following Brokerages ______________________________________ 31

and ________________________, each Brokerage having the right to represent Buyer and/or Seller exclusive of all other Brokers. 32

(Note: If utilizing this option all Brokers must sign this agreement). 33

Other: _ 34

35

36

37

38

39

40

41

To the extent the terms of this ADDENDUM modify or conflict with any provisions of the Original Broker Agreement including all prior 42

Addendums, these terms shall control. All other terms of the Original Broker Agreement including all prior Addendums not modified by 43

this ADDENDUM shall remain the same. Upon its execution by Broker and Buyer or Seller, this agreement is made an integral part of the 44

Original Broker Agreement. 45

AGENT or BROKER (on behalf of Brokerage): Date: ________________________ 46

47

CO-AGENT or BROKER (on behalf of Brokerage): Date: ________________________ 48

49

BUYER: Date: 50

51

BUYER: Date: 52

53

SELLER: Date: 54

55

SELLER: Date: 56

Teaching Sample

DISCLOSURE NOTICE TO SELLER RE-17 FINANCING ADDENDUM


This page should accompany the RE-17 when provided to Seller but may be removed before giving the completed RE-17 to Buyer.



JULY 2019 EDITION DISCLOSURE NOTICE TO SELLER RE-17 FINANCING ADDENDUM Page 1 of 1

ATTENTION SELLER: YOU ARE ENTERING INTO A COMPLEX TRANSACTION GOVERNED BY MANY STATE

AND FEDERAL LAWS. REAL ESTATE BROKERS ARE NOT QUALIFIED, NOR LICENSED, TO ENSURE THAT THE

TERMS OF YOUR SELLER FINANCING ADDENDUM COMPLY WITH THESE LAWS. YOU ARE ADVISED TO

CAREFULLY READ THE DISCLOSURES BELOW AND CONSULT WITH QUALIFIED LICENSED AND LEGAL

PROFESSIONALS TO ENSURE THAT THE TERMS OF YOUR SELLER FINANCING ADDENDUM COMPLY WITH

ALL APPLICABLE STATE AND FEDERAL LAWS.

ATTENTION REALTOR®: THIS FORM SHOULD BE PROVIDED AS AN INFORMATIONAL SERVICE TO A CLIENT

OR CUSTOMER TO INDEPENDENTLY DETERMINE IF THE FORM IS APPROPRIATE FOR THEIR NEEDS.

BROKERS AND AGENTS ARE EXEMPT FROM LOAN ORIGINATOR LICENSING TO THE EXTENT THEY ARE

PERFORMING ONLY REAL ESTATE BROKERAGE ACTIVITIES. IT IS IMPORTANT THAT YOU NOT ENGAGE IN

THE PRACTICE OF NEGOTIATING TERMS OF A RESIDENTIAL MORTGAGE LOAN OR TAKING LOAN

APPLICATIONS.

LOAN ORIGINATION DISCLOSURE: All Sellers who provide a residential consumer loan must be registered and/or

licensed as mortgage loan originators unless exempt under the Dodd-Frank Wall Street Reform and Consumer Protection Act

(the “Dodd-Frank Act”). This Act mandates that a loan originator for a “Consumer Credit” transaction (defined below) secured

by an owner occupied dwelling must, when required by applicable State or Federal laws, be registered and/or licensed in

accordance with those laws, including the Secure and Fair Enforcement for Mortgage Licensing Act (the “S.A.F.E. Act”).

Although the definition of a “loan originator” under the Dodd-Frank Act is broad in scope, there exist two categories of seller

financing which are excluded from the “loan originator” definition.

1. Requirements for the first exemption include all of the following: (1) the Seller originates consumer financing for

only one property in any 12-month period; (2) the Seller is a natural person, estate, or trust; (3) the Seller has not

constructed, or acted as a contractor for the construction of, a residence on the property as part of their ordinary course of

business; (4) the financing does not result in negative amortization; and (5) the financing has a fixed rate or does not adjust

for the first five years.

2. Requirements for the second exemption include all of the following: (1) the Seller originates consumer financing for

no more than three residential properties in any 12-month period; (2) the Seller is a natural person, or an organization,

including a partnership, corporation, proprietorship, association, cooperative, trust, estate, or government unit; (3) the Seller

has not constructed, or acted as a contractor for the construction of, a residence on the property as part of their ordinary

course of business; (4) the loan is fully amortizing; (5) the financing has a fixed rate or does not adjust for the first five

years; and (6) the Seller has determined that the borrower has the reasonable ability to repay the loan according to its terms

per federal law.

Definition of Consumer Credit: Federal law defines “consumer credit” as credit offered or extended to a consumer

primarily for personal, family, or household purposes. Business, commercial, agricultural, or organizational credit

transactions are not Consumer Credit transactions. In addition, under this definition the following would be exempt: (1)

Credit extended to acquire property that is not owner-occupied. (2) Credit extended to acquire rental property that is or will

become owner-occupied during the coming year so long as it contains more than two housing units. (3) Credit extended in

which the transaction is not secured by an owner-occupied dwelling. If the owner expects to occupy the property for more

than 14 days during the coming year, the property is considered owner-occupied.

HOEPA DISCLOSURE: Regardless of the exemptions above, Sellers providing a high cost loan may need to be registered

and/or licensed as mortgage loan originators per the Home Ownership and Equity Protection Act (HOEPA). High cost loans are

those with high interest rates or costly fees. These definitions change annually.

SELLER BEFORE CONSUMMATING THIS TRANSACTION, IT IS YOUR SOLE AND EXCLUSIVE DUTY TO

VERIFY WHETHER YOU ARE A "LOAN ORIGINATOR" AS DEFINED BY THE DODD-FRANK ACT OR

WHETHER THE TRANSACTION YOU ARE ORIGINATING IS SUBJECT TO HOEPA COVERAGE. EXTENSIVE

INFORMATION IS AVAILABLE ONLINE AT WWW.CFPB.GOV.

Teaching Sample


RE-17 FINANCING ADDENDUM




JULY 2019 EDITION RE-17 FINANCING ADDENDUM Page 1 of 1

PURCHASE AND SALE AGREEMENT DATED: ID # 1

2

ADDRESS: 3

4

BUYER(S): 5

6

SELLER(S): 7

8

(A). SELLER TO CARRY: $ 9

10

FIRST LOAN SECOND LOAN OTHER LOAN 11

BUYER to execute a: Contract for Deed or note secured by a Deed of Trust or Mortgage on the property, in favor of 12

SELLER, for the balance of $ payable at $ per month, including interest at % 13

per annum for years and with the entire balance due year(s) from date of note or contract for deed. 14

The entire balance of loan is due and payable upon sale or transfer of property: YES NO. 15

Prepayment is allowed without penalty: YES NO. 16

Late fees will be assessed of _____% of the payment(s) due if the payment(s) is not made within ______ calendar days ([14] if left 17

blank) after the payment(s) due date. 18

Other 19

20

FINANCIAL STATEMENT: Within business days (five [5] if left blank) of acceptance, BUYER shall furnish SELLER: a current 21

financial statement credit report or both, for the sole purpose of credit approval, which approval shall not be unreasonably 22

withheld. BUYER authorizes SELLER to engage the services of a reputable credit reporting agency for this purpose at BUYER'S 23

expense. SELLER shall notify BUYER within business days (three [3] if left blank) of receipt of financial statement and/or credit 24

report, of approval or disapproval of BUYER'S credit in writing. If long-term escrow/collection is involved, then the long-term escrow 25

holder shall be . Long term escrow fees/costs: 26

Set up fee paid by: BUYER SELLER Shared Equally; Monthly fee paid by: BUYER SELLER Shared Equally 27

Long-term escrow documents: Prepared by:_______________________________ Paid by: BUYER SELLER Shared Equally 28

29

(B). EXISTING LOAN(S): $ 30

This Agreement is contingent upon the Assumption of or Subject to the following loans, if any: 31

FIRST LOAN of approximately $ payable at $ per month, with interest currently at 32

% fixed rate other . Assumption Fee, if any, not to exceed . 33

SECOND LOAN of approximately $ payable at $ per month, with interest currently at 34

% fixed rate other . Assumption Fee, if any, not to exceed . 35

SELLER shall within business days (five [5] if left blank) of acceptance provide BUYER with copies of appropriate documents 36

assumed or taken subject to. Within business days (five [5] if left blank) of receipt thereof BUYER shall in writing notify 37

SELLER of his/her approval or disapproval of such terms of the aforementioned documents. SELLER shall furnish BUYER a current 38

loan information statement of the above loan(s) within business days (ten [10] if left blank) of acceptance. In the event of 39

Assumption, BUYER shall use his/her best efforts to obtain the consent of the lender of record to assume the above loan(s) 40

within business days (twenty [20] if left blank) of acceptance, or waive this condition in writing. All charges related to such 41

assumption shall be paid by the BUYER SELLER Shared Equally. 42

43

ASSUMPTION OF EXISTING LOAN WITH RELEASE OF LIABILITY: As applicable, BUYER shall assume SELLER’s potential 44

indemnity liability to the lender for the repayment of the loan. If BUYER is also VA qualified, BUYER will or will not reinstate 45

SELLER’s VA eligibility. 46

47

The herein Agreement, upon its execution by both parties, is made an integral part of the aforementioned Agreement. 48

49

BUYER Signature BUYER Signature 50

51

BUYER (Print Name) BUYER (Print Name) 52

53

Date Time Date Time 54

55

56

57

SELLER Signature SELLER Signature 58

59

SELLER (Print Name) SELLER (Print Name) 60

61

Date Time Date Time 62

Teaching Sample

RE-20 CONTRACT TERMINATION AND/OR RELEASE OF EARNEST MONEY




JULY 2019 EDITION RE-20 CONTRACT TERMINATION AND/OR RELEASE OF EARNEST MONEY Page 1 of 1

Today’s Date: 1

2

Purchase and Sale Agreement Dated: ID# 3

hereinafter referred as “Agreement” and pertaining to the property legally and further described in said Agreement which is incorporated 4

herein by reference and commonly known as: 5

Property Address or Description: 6

7

8

9

BUYER NAME: 10

11

SELLER NAME: 12

13

14

CONTRACT TERMINATION 15

The undersigned BUYER and SELLER agree that the above referenced Agreement WILL NOT be completed and hereby mutually release 16

each other from only the obligation to buy, sell or exchange the PROPERTY under the Agreement. BUYER and SELLER further agree to 17

release all brokers and their associates from any claims, actions, damages and demands arising out of the Agreement. Executing this 18

upper section of this form will not release any Earnest Money, nor will it resolve or waive any parties’ rights, liabilities, claims or 19

demands related to which party is entitled to the Earnest Money pertaining to the terminated transaction; the following section 20

may also be executed to accomplish such a release. 21

22

BUYER signature: Date: 23

24


26

27

SELLER signature: Date: 28

29


31

32

RELEASE OF EARNEST MONEY 33

AND INSTRUCTIONS TO HOLDER 34

Earnest Money Holder: 35

36

Amount of Earnest Money: $ 37

38

BUYER and SELLER agree that the Earnest Money pertaining to the above related transaction shall be released and distributed as 39

indicated below and, Earnest Money holder is hereby instructed to release and disburse the Earnest Money in the manner stated herein. 40

BUYER and SELLER further agree to release all brokers and their associates from any claims, actions, damages and demands arising out 41

of releasing and disbursing said Earnest Money. Executing this lower section of this form will not terminate the Agreement; the 42

preceding section may also be executed to accomplish such a termination. 43

44

$ TO: 45

46

$ TO: 47

48

$ TO: 49


51


53


55


Teaching Sample

RE-21 REAL ESTATE PURCHASE AND SALE AGREEMENT

JULY 2019 EDITION

Page 1 of 8


NO WARRANTIES, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF HABITABILITY, AGREEMENTS OR REPRESENTATIONS NOT EXPRESSLY SET FORTH HEREIN SHALL BE BINDING UPON EITHER PARTY.

BUYER'S Initials ( )( ) Date SELLER'S Initials ( )( ) Date This form is printed and distributed by the Idaho Association of REALTORS®, Inc. This form has been designed and is provided for use by the real estate professionals who are members of the

Idaho Association of REALTORS®. USE BY ANY OTHER PERSON IS PROHIBITED. ©Copyright Idaho Association of REALTORS®, Inc. All rights reserved. JULY 2019 EDITION RE-21 REAL ESTATE PURCHASE AND SALE AGREEMENT Page 1 of 8

ID# DATE 1

LISTING AGENCY Office Phone # Fax # 2 Listing Agent E-Mail Phone # 3 SELLING AGENCY Office Phone # Fax # 4 Selling Agent E-Mail Phone # 5 6

1. BUYER: 7 (Hereinafter called “BUYER”) agrees to purchase, and the undersigned SELLER agrees to sell the following described real estate hereinafter referred to as 8 “PROPERTY” COMMONLY KNOWN AS 9 City County ID, Zip legally described as: 10 11 OR Legal Description Attached as exhibit (Exhibit must accompany original offer and be signed or initialed by BUYER and SELLER.) 12 13

2. $ PURCHASE PRICE: DOLLARS, 14 payable upon the following TERMS AND CONDITIONS (not including closing costs): 15

This offer is contingent upon the sale, refinance, and/or closing of any other property Yes No (N/A if left blank) 16

17

3. FINANCIAL TERMS: Note: A+D+E+F must add up to total purchase price. 18 19

(A). $ EARNEST MONEY: DOLLARS 20 BUYER hereby offers the above stated amount as Earnest Money which shall be credited to BUYER upon closing. Earnest Money is/will be: 21

22 THE RESPONSIBLE BROKER SHALL BE: 23 24 (B). ALL CASH OFFER: NO YES If this is an all cash offer do not complete Sections 3D and 3E, fill blanks with “0” (ZERO). IF CASH 25

OFFER, BUYER’S OBLIGATION TO CLOSE SHALL NOT BE SUBJECT TO ANY FINANCIAL CONTINGENCY. BUYER agrees to provide SELLER 26 within business days (five [5] if left blank) from the date of acceptance of this agreement by all parties written confirmation of sufficient funds and/or 27 proceeds necessary to close transaction. Acceptable documentation includes, but is not limited to, a copy of a recent bank or financial statement. 28 29

(C) Cash proceeds from another sale: Yes No (N/A if left blank) 30

31

(D). $ NEW LOAN PROCEEDS: If a number greater than zero appears in the preceding blank, then this Agreement is 32 contingent upon BUYER obtaining the following financing: 33 FIRST LOAN of $ not including mortgage insurance, through FHA, VA, CONVENTIONAL, IHFA, RURAL 34

DEVELOPMENT, OTHER with interest not to exceed % for a period of year(s) at: Fixed Rate Other . 35 In the event BUYER is unable, after exercising good faith efforts, to obtain the indicated financing, BUYER’s Earnest Money shall be returned to BUYER. 36 SECOND LOAN of $ ___________ through FHA, VA, CONVENTIONAL, IHFA, RURAL DEVELOPMENT, OTHER 37 with interest not to exceed % for a period of year(s) at: Fixed Rate Other 38 39 LOAN APPLICATION: BUYER has applied OR shall apply for such loan(s). Within_______ business days (ten [10] if left blank) of final acceptance 40 of all parties, BUYER agrees to furnish SELLER with a written confirmation showing lender approval of credit report, income verification, debt 41 ratios, and evidence of sufficient funds and/or proceeds necessary to close transaction in a manner acceptable to the SELLER(S) and subject 42 only to satisfactory appraisal and final lender underwriting. If an appraisal is required by lender, the PROPERTY must appraise at not less than 43 PURCHASE PRICE or BUYER'S Earnest Money shall be returned at BUYER'S request unless SELLER, at SELLER’S sole discretion, agrees to reduce 44 the purchase price to meet the appraised value, in which case SELLER shall be entitled to a copy of the appraisal and shall have 24 hours from receipt 45 thereof to notify BUYER of any price reduction. BUYER may also apply for a loan with different conditions and costs and close transaction provided all 46 other terms and conditions of this Agreement are fulfilled, and the new loan does not increase the costs or requirements to the SELLER. 47 48 49 FHA / VA: If applicable, it is expressly agreed that notwithstanding any other provisions of this contract, BUYER shall not be obligated to complete the 50 purchase of the PROPERTY described herein or to incur any penalty or forfeiture of Earnest Money deposits or otherwise unless BUYER has been given 51

Evidenced by: Held By: Delivered: Deposited: Cash Responsible Broker With Offer Upon Receipt and Acceptance

Personal Check Closing Company Within_____ business days (three [3] if left blank) of acceptance.

Upon Receipt Regardless of Acceptance

See Section 4 Cashier's Check See Section 4 See Section 4 Wire Transfer

Note See Section 4 Teaching Sample

JULY 2019 EDITION RE-21 REAL ESTATE PURCHASE AND SALE AGREEMENT Page 2 of 8 PROPERTY ADDRESS: ID#:

BUYER'S Initials (________)(________) Date ______________ SELLER'S Initials (________)(________) Date _______________


JULY 2019 EDITION RE-21 REAL ESTATE PURCHASE AND SALE AGREEMENT Page 2 of 8

in accordance with HUD/FHA or VA requirements a written statement by the Federal Housing Commissioner, Veterans Administration or a Direct 52 Endorsement lender setting forth the appraised value of the PROPERTY of not less than the sales price as stated in the contract. 53 54 If such written confirmation required in 3(B) or 3(D) is not received by SELLER(S) within the strict time allotted, SELLER(S) may at their option cancel this 55 agreement by notifying BUYER(S) in writing of such cancellation within business days (three [3] if left blank) after written confirmation was required. 56 If SELLER does not cancel within the strict time period specified as set forth herein, SELLER shall be deemed to have accepted such written confirmation 57 of lender approval or waived the right to receive written confirmation and shall be deemed to have elected to proceed with the transaction. SELLER’S 58 approval shall not be unreasonably withheld. 59

60 (E). $ ADDITIONAL FINANCIAL TERMS: 61

Additional financial terms are specified under the heading “OTHER TERMS AND/OR CONDITIONS” (Section 4). 62 Additional financial terms are contained in a FINANCING ADDENDUM of same date, attached hereto, signed by both parties. 63

64 (F). $ APPROXIMATE FUNDS DUE FROM BUYERS AT CLOSING (Not including closing costs): Cash at closing 65

to be paid by BUYER at closing in GOOD FUNDS, includes: cash, electronic transfer funds, certified check or cashier's check. 66 67

4. OTHER TERMS AND/OR CONDITIONS: This Agreement is made subject to the following special terms, considerations and/or contingencies which 68 must be satisfied prior to closing 69 70 71 72 73 74 75 76 77 78 79

5. ITEMS INCLUDED & EXCLUDED IN THIS SALE: All existing fixtures and fittings that are attached to the PROPERTY are INCLUDED IN THE 80 PURCHASE PRICE (unless excluded below),and shall be transferred free of liens and in as-is condition. These include, but are not limited to, all seller-owned 81 attached floor coverings, television wall mounts, satellite dish, attached plumbing, bathroom and lighting fixtures, window screens, screen doors, storm doors, 82 storm windows, window coverings, garage door opener(s) and transmitter(s), exterior trees, plants or shrubbery, water heating apparatus and fixtures, attached 83 fireplace equipment, awnings, ventilating, cooling and heating systems, all ranges, ovens, built-in dishwashers, fuel tanks and irrigation fixtures and equipment, 84 that are now on or used in connection with the PROPERTY and shall be included in the sale unless otherwise provided herein. BUYER should satisfy 85 himself/herself that the condition of the included items is acceptable. The terms stated in this section shall control over any oral statements, prior written 86 communications and/or prior publications including but not limited to MLS listings and advertisements. Personal property described in a property disclosure 87 report shall not be inferred as to be included unless specifically set forth herein. It is agreed that any item included in this section is of nominal value less than 88 $100. 89

90 (A). ADDITIONAL ITEMS SPECIFICALLY INCLUDED IN THIS SALE: 91 92 93 94 95 (B). ITEMS SPECIFICALLY EXCLUDED IN THIS SALE: 96 97 98 99

100

6. MINERAL RIGHTS: Any and all mineral rights appurtenant to the PROPERTY and owned by SELLER are included in and are part of the sale of this 101 PROPERTY, and are not leased or encumbered, unless otherwise agreed to by the parties in writing. 102 103 7. WATER RIGHTS: Any and all water rights including but not limited to water systems, wells, springs, lakes, streams, ponds, rivers, ditches, ditch rights, 104 and the like, if any, appurtenant to the PROPERTY and owned by SELLER are included in and are a part of the sale of this PROPERTY, and are not leased 105 or encumbered, unless otherwise agreed to by the parties in writing. 106 107

8. TITLE CONVEYANCE: Title of SELLER is to be conveyed by warranty deed, unless otherwise provided, and is to be marketable and insurable except 108 for rights reserved in federal patents, state or railroad deeds, building or use restrictions, building and zoning regulations and ordinances of any governmental 109 unit, and rights of way and easements established or of record. Liens, encumbrances or defects to be discharged by SELLER may be paid out of purchase 110 money at date of closing. No liens, encumbrances or defects which are to be discharged or assumed by BUYER or to which title is taken subject to, exist 111 unless otherwise specified in this Agreement. 112 113

114

115

116

117

118

119

Teaching Sample


PROPERTY ADDRESS: ID#:




9. TITLE INSURANCE: There may be types of title insurance coverages available other than those listed below and parties to this agreement are 120 advised to talk to a title company about any other coverages available that will give the BUYER additional coverage. 121

122 (A). PRELIMINARY TITLE COMMITMENT AND CC&Rs: Within ___ business days (six [6] if left blank) of final acceptance of all parties, SELLER or 123

BUYER shall furnish to BUYER a preliminary commitment of a title insurance policy showing the condition of the title to said PROPERTY and a copy of 124 any covenants, conditions and restrictions (CC&Rs) applicable to the PROPERTY. BUYER shall have ___ business days (two [2] if left blank) after receipt 125 of the preliminary commitment and CC&Rs, within which to object in writing to the condition of the title or CC&Rs as set forth in the documentation provided. 126 If BUYER does not so object, BUYER shall be deemed to have accepted the conditions of the title and CC&Rs. If the title of said PROPERTY is not 127 marketable, and cannot be made so within ___ business days (two [2] if left blank) after SELLER’S receipt of a written objection and statement of defect 128 from BUYER, or if BUYER objects to the CC&Rs, then BUYER’S Earnest Money deposit shall be returned to BUYER and SELLER shall pay for the cost of 129 title insurance cancellation fee, escrow and legal fees, if any. Nothing contained herein shall constitute a waiver of BUYER to challenge CC&R terms directly 130 with a homeowner’s association after closing. 131

132 (B). TITLE COMPANY: The parties agree that Title Company 133 located at shall provide the title policy and preliminary report of commitment. 134

135 (C). STANDARD COVERAGE OWNER’S POLICY: SELLER shall within a reasonable time after closing furnish to BUYER a title insurance policy in the 136 amount of the purchase price of the PROPERTY showing marketable and insurable title subject to the liens, encumbrances and defects elsewhere set out 137 in this Agreement to be discharged or assumed by BUYER unless otherwise provided herein. The risk assumed by the title company in the standard 138 coverage policy is limited to matters of public record. BUYER shall receive a ILTA/ALTA Owner’s Policy of Title Insurance. A title company, at BUYER’s 139 request, can provide information about the availability, desirability, coverage and cost of various title insurance coverages and endorsements. If BUYER 140 desires title coverage other than that required by this paragraph, BUYER shall instruct Closing company in writing and pay any increase in cost unless 141 otherwise provided herein. 142

143 (D). EXTENDED COVERAGE LENDER’S POLICY (Mortgagee policy): The lender may require that BUYER (Borrower) furnish an Extended Coverage 144 Lender’s Policy. This extended coverage lender’s policy considers matters of public record and additionally insures against certain matters not shown in the 145 public record. This extended coverage lender’s policy is solely for the benefit of the lender and only protects the lender. 146

147 10. INSPECTION: (A). BUYER chooses to conduct inspections not to conduct inspections. If BUYER chooses not to conduct inspections, skip 148 Sections 10(B) and (C). If indicated, this contract is contingent upon BUYER’S approval of the condition of the PROPERTY and BUYER shall have the right 149 to conduct inspections, investigations, tests, surveys and other studies at BUYER’S expense. BUYER is strongly advised to exercise these rights and to make 150 BUYER'S own selection of professionals with appropriate qualifications to conduct inspections of the entire PROPERTY. BUYER shall keep the PROPERTY 151 free and clear of liens; indemnify and hold SELLER harmless from all liability, claims, demands, damages and costs; and repair any damages arising from the 152 inspections. SELLER shall make the PROPERTY available for inspection and agrees to accept the responsibility and expense for making sure all the utilities 153 are turned on no later than _____business days (two [2] if left blank) from acceptance for the inspection except for phone, cable and internet. No inspections 154 may be made by any governmental building or zoning inspector or government employee without the prior consent of SELLER unless required by 155 local law. 156

157 This offer is subject to a short sale approval by a mortgage company, the timeframe(s) for completing inspections shall begin upon written approval of 158

the short sale by the mortgage company and/or all lien holders. 159 160

(B) TIMEFRAME(S) FOR INSPECTIONS 161 162

1) PRIMARY INSPECTION: Buyer’s inspection contingency allows a BUYER to conduct a general inspection of the PROPERTY which includes all aspects 163 of the PROPERTY, including but not limited to neighborhood, conditions, zoning and use allowances, environmental conditions, applicable school districts 164 and/or any other aspect pertaining to the PROPERTY or related to the living environment at the PROPERTY; hereinafter referred to as the Primary 165 Inspection. Except for additional items or conditions specifically reserved in a Secondary Inspection below BUYER shall, within business days (five 166 [5] if left blank) of acceptance, complete these inspections and give to SELLER written notice of disapproved items/conditions or written notice of termination 167 of this Agreement based on an unsatisfactory inspection. Once BUYER delivers written notice to SELLER it shall end BUYER’S timeframe for inspections 168 other than those specifically reserved in a Secondary Inspection below and is irrevocable regardless of if it was provided prior to the deadline stated above. 169 170 2) SECONDARY INSPECTION: Items or conditions marked below, if any, allow BUYER the indicated additional time to conduct inspection of only those 171 items or conditions. If not indicated below BUYER may still conduct these inspections but must do so under the 10(B)(1) Primary Inspection timeframe. 172 BUYER shall, within each timeframe stated below, complete the inspections indicated and give to SELLER written notice of the disapproved item/condition 173 or written notice of termination of this Agreement based on an unsatisfactory inspection of that item/condition. Once BUYER delivers written notice to 174 SELLER it shall end BUYER’S timeframe for only that item/condition and is irrevocable regardless of if it was provided prior to the deadline stated below. 175 Any notice provided under this subsection is unrelated to a notice provided under subsection 10(B)(1). BUYER shall be responsible for the cost of all 176 indicated inspections unless otherwise noted in the Costs Paid By section or elsewhere herein. BUYER reserves the right to conduct the following inspections 177 outside the Primary Inspection timeline: 178

Domestic Well Water Potability and/or Productivity Test which shall be completed and notice provided within ____ business days (ten [10] if left 179 blank) from acceptance. 180

Septic Inspection and required Pumping which shall be completed and notice provided within ____ business days (ten [10] if left blank) from 181 acceptance. 182

Survey which shall be completed and notice provided within ____ business days (ten [10] if left blank) from acceptance. 183 Other Inspection #1:_____________________________________________ which shall be completed and notice provided within ____ business 184

days (ten [10] if left blank) from acceptance. 185 Other Inspection #2_____________________________________________ which shall be completed and notice provided within ____ business 186

days (ten [10] if left blank) from acceptance. 187 188 189 190

Teaching Sample





(C). SATISFACTION/REMOVAL OF INSPECTION CONTINGENCIES: 191 192 Each following subsection shall apply to BUYER’S Primary Inspection and, if indicated in 10(B)(2) above, shall also apply independently and repeatedly to 193 each item or condition for which BUYER reserved additional time. If no time was reserved for any additional item(s) there will be only one notice required, 194 if additional time was reserved in 10(B)(2) there may be multiple notices. 195 196 1). If BUYER does not within the strict time period specified give to SELLER written notice of disapproved items/conditions or written notice of termination 197 of this Agreement under the Primary Inspection or any particular 10(B)(2) reserved item, BUYER shall, for only that particular inspection or item/condition, 198 conclusively be deemed to have: (a) completed applicable inspections, investigations, review of applicable documents and disclosures; (b) assumed all 199 liability, responsibility and expense for repairs or corrections for that particular inspection or item/condition and (c) waived BUYER’S right to terminate 200 based upon that particular item/condition. BUYER not providing one written notice shall not affect BUYER’S rights regarding other unrelated notices and 201 inspections. 202 203 2). If BUYER does within the strict time period specified give to SELLER written notice of termination of this Agreement based on any unsatisfactory 204 inspection, the parties will have no obligation to continue with the transaction and the Earnest Money shall be returned to BUYER. 205 206 3). If BUYER does within the strict time period specified give to SELLER written notice of disapproved items/conditions, it shall end BUYER’S timeframe 207 for that particular inspection and is irrevocable. BUYER shall provide to SELLER pertinent section(s) of written inspection reports upon request, if 208 applicable. Upon receipt of written notice SELLER shall have business days (three [3] if left blank) in which to respond in writing. SELLER, at 209 SELLER’S option, may agree to correct the items as requested by BUYER in the notice or may elect not to do so. If SELLER agrees in writing to correct 210 the items/conditions requested by BUYER, then said agreement will become an integral part of this contract. Otherwise, immediately upon a written 211 response from SELLER that rejects BUYER’S requests, in whole or in part, said response is irrevocable without consent of BUYER and BUYER may 212 proceed under 10(C)(4) below. 213 214 4). If SELLER does not agree to correct BUYER’S disapproved items/conditions within the strict time period specified, or SELLER does not respond in 215 writing within the strict time period specified above, then within business days (three [3] if left blank) the BUYER has the option of 1) negotiating 216 with SELLER to obtain a modification of SELLER’S response 2) proceeding with the transaction without the SELLER being responsible for correcting the 217 disapproved items/conditions stated in that particular BUYER’S notice, or 3) giving the SELLER written notice of termination of this agreement in which 218 case Earnest Money shall be returned to BUYER. If within the strict time period specified in this paragraph BUYER does not obtain a modification of 219 SELLER’S response or give written notice of cancellation, BUYER shall conclusively be deemed to have elected to proceed with the transaction without 220 the repairs or corrections to the disapproved items/conditions stated in that particular BUYER’S notice. BUYER electing to proceed with the transaction 221 under BUYER’S Primary Inspection or any single inspection reserved under 10(B)(2) shall not affect BUYER’S rights regarding other inspections reserved 222 in 10(B)(2). 223 224 (D). Home Warranty Programs are available for purchase through a number of Home Warranty Companies. 225

226

11. LEAD PAINT DISCLOSURE: The subject PROPERTY is is not defined as “Target Housing” regarding lead-based paint or lead-based paint 227 hazards. The term lead-based paint hazards are intended to identify lead-based paint and all residual lead-containing dusts and soils regardless of the 228 source of the lead. If yes, BUYER hereby acknowledges the following: (a) BUYER has been provided an EPA approved lead-based paint hazard information 229 pamphlet, “Protect Your Family From Lead in Your Home”, (b) receipt of SELLER’S Disclosure of Information and Acknowledgment Form and have been 230 provided with all records, test reports or other information, if any, related to the presence of lead-based paint hazards on said PROPERTY, (c) that this contract 231 is contingent upon BUYERS right to have the PROPERTY tested for lead-based paint hazards to be completed no later than ____________________ or the 232 contingency will terminate, (d) that BUYER hereby waives does not waive this right, (e) that if test results show unacceptable amounts of lead-based 233 paint on the PROPERTY, BUYER has the right to cancel the contract subject to the option of the SELLER (to be given in writing) to elect to remove the lead-234 based paint and correct the problem which must be accomplished before closing, (f) that if the contract is canceled under this clause, BUYER’S earnest 235 money deposit shall be returned to BUYER. Additionally, if any structure was built before 1978 and is a residential home, apartment or child-occupied facility 236 such as a school or day-care center, federal law requires contractors that disturb lead-based paint in that structure to provide the owner with a “Renovate 237 Right” pamphlet. The contractor shall be certified and follow specific work practices to prevent lead contamination. 238 239

12. MOLD DISCLAIMER: BUYER is hereby advised that mold and/or other microorganisms may exist at the Property. Upon closing BUYER 240 acknowledges and agrees to accept full responsibility and risk for any matters that may result from mold and/ or other microorganisms and to hold 241 SELLER and any Broker or agent representing SELLER or BUYER harmless from any liability or damages (financial or otherwise) relating to such 242 matters. 243 244 13. SQUARE FOOTAGE VERIFICATION: BUYER IS AWARE THAT ANY REFERENCE TO THE SQUARE FOOTAGE OF THE REAL PROPERTY 245 OR IMPROVEMENTS IS APPROXIMATE. IF SQUARE FOOTAGE IS MATERIAL TO THE BUYER, IT MUST BE VERIFIED DURING THE INSPECTION 246 PERIOD. 247 248

14. SELLER'S PROPERTY CONDITION DISCLOSURE FORM: If required by Title 55, Chapter 25 Idaho Code SELLER shall within ten (10) calendar 249 days after execution of this Agreement provide to BUYER or BUYER’S agent, “Seller's Property Condition Disclosure Form” or other acceptable form. BUYER 250 has received the “Seller's Property Condition Disclosure Form” or other acceptable form prior to signing this Agreement: Yes No N/A 251 252

253

254

255

256

257

258

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15. SUBDIVISION HOMEOWNER’S ASSOCIATION: BUYER is aware that membership in a Home Owner’s Association may be required and BUYER 259 agrees to abide by the Articles of Incorporation, Bylaws and rules and regulations of the Association. BUYER is further aware that the PROPERTY may be 260 subject to assessments levied by the Association described in full in the Declaration of Covenants, Conditions and Restrictions. BUYER has reviewed 261 Homeowner’s Association Documents: Yes No N/A. Association fees/dues are $ per . 262

BUYER SELLER Shared Equally N/A to pay Association SET UP FEE of $ at closing. 263 BUYER SELLER Shared Equally N/A to pay Association PROPERTY TRANSFER FEES of $ at closing. 264 BUYER SELLER Shared Equally N/A to pay Association STATEMENT OF ACCOUNT FEE of $ at closing. Association Fees are 265

governed by Idaho Code 55-116 and 55-1507. 266 267

16. COSTS PAID BY: The parties agree to pay the following costs immediately when due and regardless of transaction closing, unless otherwise 268 indicated. These costs shall be paid by the indicated party regardless of whether or not the transaction closes; if the transaction fails to close due to breach 269 of a party, any costs paid by the non-breaching may be recovered as damages. None of the costs to be paid by the parties in this section creates an inspection 270 or performance obligation other than strictly for the payment of costs unless otherwise stated. There may be other costs incurred in addition to those set forth 271 below. Such costs may be required by the lender, by law, or by other circumstances. Requested tests/inspection reports as indicated below shall be provided 272 to the other party within the time period specified in Section 10. 273 274 275

BUYER SELLER Shared Equally N/A BUYER SELLER

Shared Equally N/A

Appraisal Fee Title Ins. Standard Coverage Owner’s Policy

Appraisal Re-Inspection Fee Title Ins. Extended Coverage Homeowner’s Expanded Coverage Endorsement

Closing Escrow Fee Title Ins. Extended Coverage Lender’s Policy – Mortgagee Policy

Lender Document/Processing Fee Additional Title Coverage

Tax Service Fee Domestic Well Water Potability Test Shall be ordered by: BUYER SELLER

Flood Certification/Tracking Fee Domestic Well Water Productivity Test Shall be ordered by: BUYER SELLER

Lender Required Inspections Septic Inspections Shall be ordered by: BUYER SELLER

Attorney Contract Preparation or Review Fee Septic Pumping Shall be ordered by: BUYER SELLER

Survey Shall be ordered by: BUYER SELLER

Upon closing SELLER agrees to pay __________% of the purchase price OR $_______________ (dollar amount) (N/A if left blank) as a SELLER 276 concession. This can be used toward lender-approved BUYER’S closing costs, lender fees, and prepaid costs which include but are not limited to 277 those items in BUYER columns marked above. This concession can also be used for any other expense not related to financing at the BUYER’s 278 discretion. 279 280 SELLER agrees to pay up to $ ($0 if left blank) of lender required repair costs only. 281 BUYER or SELLER has the option to pay any lender required repair costs in excess of this amount. 282 283

17.OCCUPANCY: BUYER does does not intend to occupy PROPERTY as BUYER’S primary residence. 284

285

18. SECTION 1031 TAX DEFERRED EXCHANGE: If applicable, each party shall cooperate with the other Party in effectuating an exchange under IRS 286 Section 1031; provided however, that the other Party’s cooperation shall be conditioned on the following: (a) the exchange shall be at no additional liability 287 and/or cost to the other Party; (b) the exchange shall not delay Settlement or Closing; and (c) the other Party shall not be required to acquire title to any 288 proposed exchange properties to accommodate an exchange. The exchanging party shall indemnify, defend and hold the other Party harmless from and 289 against all claims, demands, costs and expenses which that Party may sustain as a result of the actual or attempted 1031 exchange. 290 291

19. RISK OF LOSS OR NEGLECT: Prior to closing of this sale, all risk of loss shall remain with SELLER. In addition, should the PROPERTY be 292 materially damaged by fire, neglect, or other destructive cause prior to closing, this agreement shall be voidable at the option of the BUYER. 293 294 20. WALK THROUGHS: The SELLER grants BUYER and any representative of BUYER reasonable access to conduct two walk through inspections of 295 the PROPERTY NOT AS A CONTINGENCY OF THE SALE, but for the following stated purposes: first walkthrough shall be within _____ business days 296 (three [3] if left blank) after the deadline for completion of repairs agreed to as a result of the Buyer’s Inspection Contingency for the purpose of satisfying 297 BUYER that any repairs agreed to in writing by BUYER and SELLER have been completed. The second walkthrough shall be within business days 298

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(three [3] if left blank) prior to close of escrow, for the purpose of satisfying BUYER that PROPERTY is in substantially the same condition as on the date this 299 offer is made. The walk throughs stated herein are not a contingency of the sale which might allow termination, but rather for BUYER’S reasonable 300 satisfaction. BUYER’S only recourse if unsatisfied is to notify SELLER who must correct or rectify the situation. SELLER shall make PROPERTY available 301 for the walk throughs and agrees to accept the responsibility and expense for making sure all the utilities are turned on for the walk throughs except for 302 phone, cable and internet. If BUYER does not conduct either of the walk throughs, BUYER specifically releases the SELLER and Broker(s) and their 303 associates of any liability as to incomplete repairs and/or any changed conditions. 304 21. SINGULAR AND PLURAL terms each include the other, when appropriate. 305

306

22. FORECLOSURE NOTICE: If the PROPERTY described above is currently involved in a foreclosure proceeding (pursuant to Idaho Code §45-1506) 307 any contract or agreement with the owner or owners of record that involves the transfer of any interest in residential real property, as defined in §45-525(5)(b), 308 Idaho Code, subject to foreclosure must be in writing and must be accompanied by and affixed to RE-42 Property Foreclosure Disclosure Form. 309 310

23. MECHANIC’S LIENS - GENERAL CONTRACTOR DISCLOSURE STATEMENT NOTICE: BUYER and SELLER are hereby notified that, 311 subject to Idaho Code §45-525 et seq., a “General Contractor” must provide a Disclosure Statement to a homeowner that describes certain rights afforded to 312 the homeowner (e.g. lien waivers, general liability insurance, extended policies of title insurance, surety bonds, and sub-contractor information). The Disclosure 313 Statement must be given to a homeowner prior to the General Contractor entering into any contract in an amount exceeding $2,000 with a homeowner for 314 construction, alteration, repair, or other improvements to real property, or with a residential real property purchaser for the purchase and sale of newly 315 constructed property. Such disclosure is the responsibility of the General Contractor and it is not the duty of your agent to obtain this information on your 316 behalf. You are advised to consult with any General Contractor subject to Idaho Code §45-525 et seq. regarding the General Contractor Disclosure Statement. 317 318

24. SALES PRICE INFORMATION: Pursuant to Idaho Code §54-2083(6)(d), a “sold” price of real property is not confidential client information. 319

320

25. TRANSMISSION OF DOCUMENTS: Facsimile or electronic transmission of any signed original document, and retransmission of any signed facsimile 321 or electronic transmission shall be the same as delivery of an original. At the request of either the BUYER or SELLER, or the LENDER, or the Closing 322 company, the BUYER and SELLER will confirm facsimile or electronic transmitted signatures by signing an original document. 323 324 26. WIRE TRANSFER WARNING: Electronic means of transferring money (i.e. ETF, wire transfer, electronic check, direct deposit, etc…) are subject to 325 sophisticated cyber fraud attacks. These attacks are even more prevalent in real estate transactions due to the large sums of money being exchanged. 326 BUYER is advised that Brokerage will not provide electronic transfer instructions by e-mail. Following money transfer instructions contained in an email from 327 any party is inherently dangerous and should be avoided. BUYER agree that if BUYER use, or authorize the use of, electronic transfer of funds in a transaction 328 they hereby hold the Brokerages, their agents, and the designated title and escrow company harmless from any and all claims arising out of inaccurate transfer 329 instructions, fraudulent interception of said funds and/or any other damage relating to the conduct of third parties influencing the transfer process or stealing 330 funds. 331 332

27. BUSINESS DAYS: A business day is herein defined as Monday through Friday, 8:00 A.M. to 5:00 P.M. in the local time zone where the subject real 333 PROPERTY is physically located. A business day shall not include any Saturday or Sunday, nor shall a business day include any legal holiday recognized by 334 the state of Idaho as found in Idaho Code §73-108. If the time in which any act required under this agreement is to be performed is based upon a business 335 day calculation, then it shall be computed by excluding the calendar day of execution and including the last business day. The first business day shall be the 336 first business day after the date of execution. If the last day is a legal holiday, then the time for performance shall be the next subsequent business day. 337 338 28. CALENDAR DAYS: A calendar day is herein defined as Monday through Sunday, midnight to midnight, in the local time zone where the subject real 339 PROPERTY is physically located. A calendar day shall include any legal holiday. The time in which any act required under this agreement is to be performed 340 shall be computed by excluding the date of execution and including the last day, thus the first day shall be the day after the date of execution. Any reference 341 to “day” or “days” in this agreement means the same as calendar day, unless specifically enumerated as a “business day.” 342 343 29. ATTORNEY'S FEES: If either party initiates or defends any arbitration or legal action or proceedings which are in any way connected with this 344 Agreement, the prevailing party shall be entitled to recover from the non-prevailing party reasonable costs and attorney's fees, including such costs and fees 345 on appeal. 346 347

30. DEFAULT: If BUYER defaults in the performance of this Agreement, SELLER has the option of: (1) accepting the Earnest Money as liquidated damages 348 or (2) pursuing any other lawful right and/or remedy to which SELLER may be entitled. If SELLER elects to proceed under (1), SELLER shall make demand 349 upon the holder of the Earnest Money, upon which demand said holder shall pay from the Earnest Money the costs incurred by SELLER'S Broker on behalf 350 of SELLER and BUYER related to the transaction, including, without limitation, the costs of title insurance, escrow fees, appraisal, credit report fees, inspection 351 fees and attorney's fees; and said holder shall pay any balance of the Earnest Money, one-half to SELLER and one-half to SELLER'S Broker, provided that 352 the amount to be paid to SELLER'S Broker shall not exceed the Broker's agreed-to commission. SELLER and BUYER specifically acknowledge and agree 353 that if SELLER elects to accept the Earnest Money as liquidated damages, such shall be SELLER'S sole and exclusive remedy, and such shall not be 354 considered a penalty or forfeiture. However, in the event the parties mutually agree in writing that the Earnest Money shall become non-refundable, said 355 agreement shall not be considered an election of remedies by SELLER and the non-refundable Earnest Money shall not constitute liquidated damages; nor 356 shall it act as a waiver of other remedies, all of which shall be available to SELLER; it may however be used to offset SELLER’S damages. If SELLER elects 357 to proceed under (2), the holder of the Earnest Money shall be entitled to pay the costs incurred by SELLER'S Broker on behalf of SELLER and BUYER related 358 to the transaction, including, without limitation, the costs of brokerage fee, title insurance, escrow fees, appraisal, credit report fees, inspection fees and 359 attorney's fees, with any balance of the Earnest Money to be held pending resolution of the matter. If SELLER defaults, having approved said sale and fails 360 to consummate the same as herein agreed, BUYER'S Earnest Money deposit shall be returned to him/her and SELLER shall pay for the costs of title insurance, 361 escrow fees, appraisals, credit report fees, inspection fees, brokerage fees and attorney's fees, if any. This shall not be considered as a waiver by BUYER of 362 any other lawful right or remedy to which BUYER may be entitled. 363 364

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31. EARNEST MONEY DISPUTE / INTERPLEADER: Notwithstanding any termination or breach of this Agreement, BUYER and SELLER agree that 365 in the event of any controversy regarding the Earnest Money and things of value held by Broker or closing company, Broker may reasonably rely on the terms 366 of this Agreement or other written documents signed by both parties to determine how to disburse the disputed money. However, Broker or closing company 367 shall not be required to take any action but may await any proceeding, or at Broker's or closing company's option and sole discretion, may interplead all parties 368 and deposit any moneys or things of value into a court of competent jurisdiction and shall recover all costs which were incurred as a result of the dispute 369 including, but not limited to, reasonable attorney's fees. If either parties’ Broker incurs attorney’s fees as a result of any Earnest Money dispute, whether or not 370 formal legal action is taken, said Broker is entitled to recover actual fees incurred from either BUYER or SELLER. 371 372 32. COUNTERPARTS: This Agreement may be executed in counterparts. Executing an agreement in counterparts shall mean the signature of two identical 373 copies of the same agreement. Each identical copy of an agreement signed in counterparts is deemed to be an original, and all identical copies shall together 374 constitute one and the same instrument. 375 376 33. “NOT APPLICABLE” DEFINED: The letters “n/a,” “N/A,” “n.a.,” and “N.A.” as used herein are abbreviations of the term “not applicable.” Where this 377 agreement uses the term “not applicable” or an abbreviation thereof, it shall be evidence that the parties have contemplated certain facts or conditions and 378 have determined that such facts or conditions do not apply to the agreement or transaction herein. 379 380

34. SEVERABILITY: In the case that any one or more of the provisions contained in this Agreement, or any application thereof, shall be invalid, illegal or 381 unenforceable in any respect, the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 382 383

35. REPRESENTATION CONFIRMATION: Check one (1) box in Section 1 and one (1) box in Section 2 below to confirm that in this transaction, the 384 brokerage(s) involved had the following relationship(s) with the BUYER(S) and SELLER(S). 385 386 Section 1: 387 A. The brokerage working with the BUYER(S) is acting as an AGENT for the BUYER(S). 388 B. The brokerage working with the BUYER(S) is acting as a LIMITED DUAL AGENT for the BUYER(S), without an ASSIGNED AGENT. 389 C. The brokerage working with the BUYER(S) is acting as a LIMITED DUAL AGENT for the BUYER(S) and has an ASSIGNED AGENT 390

acting solely on behalf of the BUYER(S). 391 D. The brokerage working with the BUYER(S) is acting as a NONAGENT for the BUYER(S). 392 393 Section 2: 394 A. The brokerage working with the SELLER(S) is acting as an AGENT for the SELLER(S). 395 B. The brokerage working with the SELLER(S) is acting as a LIMITED DUAL AGENT for the SELLER(S), without an ASSIGNED AGENT. 396 C. The brokerage working with the SELLER(S) is acting as a LIMITED DUAL AGENT for the SELLER(S) and has an ASSIGNED AGENT 397

acting solely on behalf of the SELLER(S). 398 D. The brokerage working with the SELLER(S) is acting as a NONAGENT for the SELLER(S). 399

400 Each party signing this document confirms that he has received, read and understood the Agency Disclosure Brochure adopted or approved by the Idaho real 401 estate commission and has consented to the relationship confirmed above. In addition, each party confirms that the brokerage's agency office policy was made 402 available for inspection and review. EACH PARTY UNDERSTANDS THAT HE IS A “CUSTOMER” AND IS NOT REPRESENTED BY A BROKERAGE 403 UNLESS THERE IS A SIGNED WRITTEN AGREEMENT FOR AGENCY REPRESENTATION. 404 405 36. CLOSING: On or before the closing date, BUYER and SELLER shall deposit with the closing company all funds and instruments necessary to complete 406 this transaction. Closing means the date on which all documents are either recorded or accepted by an escrow agent and the sale proceeds are 407 available to SELLER. The closing shall be no later than (Date) . The parties agree that the CLOSING 408 COMPANY for this transaction shall be located at 409 . If a long-term escrow / collection is involved, then the long-410 term escrow holder shall be . 411 412

37. POSSESSION: BUYER shall be entitled to possession upon closing or date time A.M. P.M. 413 414 38. PRORATIONS: Property taxes and water assessments (using the last available assessment as a basis), rents collected, interest and reserves, liens, 415 encumbrances or obligations assumed, and utilities shall be prorated upon closing or as of date . 416

BUYER to reimburse SELLER for fuel in tank Yes No N/A. Dollar amount may be determined by SELLER’s supplier. 417

418

39. ASSIGNMENT: This Agreement and any rights or interests created herein may may not be sold, transferred, or otherwise assigned. 419

420

40. ENTIRE AGREEMENT: This Agreement including any addendums or exhibits, constitutes the entire Agreement between the parties respecting the 421 matters set forth and supersedes all prior Agreements between the parties respecting such matters. This Agreement may be modified only by a written 422 agreement signed by each of the parties. 423 424

41. TIME IS OF THE ESSENCE IN THIS AGREEMENT. 425

426

42. AUTHORITY OF SIGNATORY: If BUYER or SELLER is a corporation, partnership, trust, estate, or other entity, the person executing this agreement 427 on its behalf warrants his or her authority to do so and to bind BUYER or SELLER. 428 429

43. ACCEPTANCE: This offer may be revoked at any time prior to acceptance and is made subject to acceptance on or before 430 (Date) at (Local Time in which PROPERTY is located) A.M. P.M. 431

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Idaho Association of REALTORS®. USE BY ANY OTHER PERSON IS PROHIBITED. ©Copyright Idaho Association of REALTORS®, Inc. All rights reserved. JULY 2019 EDITION RE-21 REAL ESTATE PURCHASE AND SALE AGREEMENT Page 8 of 8

44. BUYER’S SIGNATURES: 432 433

SEE ATTACHED BUYER'S ADDENDUM(S): _______ (Specify number of BUYER addendum(s) attached.) 434 SEE ATTACHED BUYER'S EXHIBIT(S): _______ (Specify number of BUYER exhibit(s) attached.) 435

436 BUYER does currently hold an active Idaho real estate license. BUYER is related to agent. 437

438 BUYER Signature BUYER (Print Name) 439 440 Date Time A.M. P.M. Phone # Cell # 441 442 Address E-Mail 443 444 City State Zip Fax # 445 446 447 448

BUYER does currently hold an active Idaho real estate license. BUYER is related to agent. 449 450 BUYER Signature BUYER (Print Name) 451 452 Date Time A.M. P.M. Phone # Cell # 453 454 Address E-Mail 455 456 City State Zip Fax # 457 458 459 460 461

45. SELLER’S SIGNATURES: On this date, I/We hereby approve and accept the transaction set forth in the above Agreement and agree to carry out all 462 the terms thereof on the part of the SELLER. 463 464

SIGNATURE(S) SUBJECT TO ATTACHED COUNTER OFFER 465 SIGNATURE(S) SUBJECT TO ATTACHED ADDENDUM(S) # __________ 466 SIGNATURE(S) SUBJECT TO ATTACHED EXHIBIT(S) # __________ 467

468 SELLER does currently hold an active Idaho real estate license. SELLER is related to agent. 469

470 SELLER Signature SELLER (Print Name) 471 472 Date Time A.M. P.M. Phone # Cell # 473 474 Address E-Mail 475 476 City State Zip Fax # 477 478 CONTRACTOR REGISTRATION # (if applicable) 479 480 481 482

SELLER does currently hold an active Idaho real estate license. SELLER is related to agent. 483 484 SELLER Signature SELLER (Print Name) 485 486 Date Time A.M. P.M. Phone # Cell # 487 488 Address E-Mail 489 490 City State Zip Fax # 491 492 CONTRACTOR REGISTRATION # (if applicable) 493 494 495

LATE ACCEPTANCE 496

If acceptance of this offer is received after the time specified, it shall not be binding on the BUYER unless BUYER approves of said 497

acceptance within _____ calendar days (three [3] if left blank) by BUYER initialing HERE (________)(________) Date ______________ 498

If BUYER timely approves of SELLER’s late acceptance, an initialed copy of this page shall be immediately delivered to SELLER. 499

PROPERTY ADDRESS: ID#:

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RE-25 SELLER’S PROPERTY CONDITION DISCLOSURE FORM


SELLER’S Initials ( )( ) Date BUYER’S Initials ( )( ) Date


JULY 2019 EDITION RE-25 SELLER’S PROPERTY CONDITION DISCLOSURE FORM Page 1 of 4

Seller’s Name(s): Date:

Property Address:

Section 55-2501, et seq., Idaho Code, requires SELLERS of residential real property to complete a property condition disclosure form and deliver a signed and dated copy of the completed disclosure form to each prospective transferee or his agent within ten (10) calendar days of transferor's acceptance of transferee's offer. “Residential Real Property” means real property that is improved by a building or other structure that has one (1) to four (4) dwelling units or an individually owned unit in a structure of any size. This also applies to real property which has a combined residential and commercial use.

Notwithstanding that transfer of newly constructed residential real property that previously has not been inhabited is exempt from disclosure pursuant to section 55-2505, Idaho Code, SELLERS of such newly constructed and non-exempt existing residential real property shall disclose information regarding annexation and city services in the form as prescribed in questions 1, 2, and 3.

1. Is the property located in an area of city impact, adjacent or contiguous to a city limit, and thus legally subject to annexation by the city?Yes No Do Not Know The property is already within city limits

2. Does the property, if not within city limits, receive any city services, thus making it legally subject to annexation by the city?Yes No Do Not Know The property is already within city limits

3. Does the property have a written consent to annex recorded in the county recorder’s office, thus making it legally subject to annexation by the city?Yes No Do Not Know The property is already within city limits

THE PURPOSE OF THE STATEMENT: This is a statement made by the SELLER of the conditions and information concerning the property known by the SELLER. This is NOT a statement of any agent representing the SELLER and no agent is authorized to make representations, or verify representations, concerning the condition of the property. Unless otherwise advised, the SELLER does not possess any expertise in construction, architectural, engineering or any other specific areas related to the construction or condition of the improvements on the property. Other than having lived at or owning the property, the SELLER possesses no greater knowledge than that which could be obtained upon careful inspection of the property by the potential BUYER. Unless otherwise advised, the SELLER has not conducted any inspection of generally inaccessible areas such as the foundation or roof. This disclosure is not a warranty of any kind by the SELLER or by any agent representing the SELLER in this transaction. It is not a substitute for any inspections. The BUYER is encouraged to obtain his/her own professional inspections.

THE FOLLOWING ARE IN THE CONDITIONS INDICATED:

APPLIANCES SECTION None/Not Included Working

Not Working

Do Not Know Remarks

Built-in Vacuum System Clothes Dryer Clothes Washer Dishwasher Disposal Refrigerator Kitchen Vent Fan/Hood Microwave Oven Oven(s)/ Range(s)/Cook top(s) Trash Compactor

ELECTRICAL SYSTEMS SECTION None/Not Included Working

Not Working

Do Not Know Remarks

Security System(s) Garage Door Opener(s)/Control(s) Light Fixtures Smoke Detector(s)/Fire Alarm(s) Carbon Monoxide Detector(s)

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PROPERTY ADDRESS:




HEATING & COOLING SYSTEMS SECTION

None/Not Included Working

Not Working Do Not Know Remarks

Attic Fan(s) Central Air Conditioning Room Air Conditioner(s) Evaporative Cooler(s) Fireplace(s) Fireplace Insert(s) Furnace/Heating System(s) Humidifier(s) Wood/Pellet Stove(s) Air Cleaner(s) FUEL TANK SECTION N/A ( ) Propane ( ) Oil ( ) Diesel ( ) Gasoline ( ) Other ( ) Location: Size: In Use: ( ) Not In Use: ( ) Above Ground: ( ) Buried: ( ) Owned: ( ) Leased: ( ) MOISTURE & DRAINAGE CONDITIONS SECTION Yes No Do Not Know Remarks Is the property located in a floodplain?

Are you aware of any site drainage problems? Has there been any water intrusion or moisture related damage to any portion of the property, including, but not limited to, the crawlspace, floors, walls, ceilings, siding, or basement, based on flooding; moisture seepage, moisture condensation, sewer overflow/ backup, or leaking pipes, plumbing fixtures, appliances, or moisture related damage from other causes? Have you had the property inspected for the existence of any types of mold? If the property has been inspected for mold, is a copy of the inspection report available? Are you aware of the existence of any mold-related problems on any interior portion of the property, including but not limited to, floors, walls, ceilings, basement, crawlspaces, and attics, or any mold-related structural damage? Have you ever had any water intrusion, moisture related damage, mold or mold-related problems on the property remediated, repaired, fixed or replaced?

WATER & SEWER SYSTEMS SECTION None/Not Included Working

Not Working

Do Not Know Remarks

Hot Tub/Spa and Equipment Pool and Pool Equipment Plumbing System – Faucets and Fixtures Water Heater(s) Water Softener (owned) Water Softener (leased)

Landscape Sprinkler System Septic System Sump Pump/Lift Pump

SEWER SYSTEM TYPE SECTION Public System

(City/Municipal) Community

System Private System

Other/Remarks Property Sewer Provided By:

If a private system, please provide the following information about the septic system:

Date Last Pumped

/ /

Is there a Maintenance Fee?

Yes No

If Yes, list amount & explain monthly or annual fee?

Yes No Do Not Know

Other/Remarks If a private septic system, is there a shared drain field?

Teaching Sample


PROPERTY ADDRESS:




WATER SOURCE & TYPE SECTION Public System

(City/Municipal) Community

System

Private System (Well, Cistern,

etc) Other/Remarks Domestic Water Provided By: Landscape Water Provided By:

Irrigation Water Provided By:

Yes No Do Not Know Other/Remarks Shared Well

Shared Well Agreement

ROOF SECTION: Age: UNKNOWN Yes No Do Not Know Remarks Is there present damage to the roof?

Does the roof leak?

SIDING SECTION: Age: UNKNOWN Are there any problems with the siding?

HAZARDOUS CONDITIONS SECTION Yes No Do Not Know Remarks

Are you aware of any asbestos, radon, or other toxic or hazardous materials on the property? Is there a radon mitigation system?

Are you aware if the property has ever been used as an illegal drug manufacturing site? Are you aware of any current or previous insect, rodent or other pest infestation(s) on the property? Have you ever had the property serviced by an exterminator or had the property otherwise remediated for insect, rodent or other pest infestation(s)? Is there any damage due to wind, fire, or flood?

OTHER DISCLOSURES SECTION Yes No Do Not Know Remarks Are there any conditions that may affect your ability to clear title such as encroachments, easements, zoning violations, lot line disputes, restrictive covenants, etc.? Has the property been surveyed since you owned it? Have you received any notices by any governmental or quasi-governmental entity affecting this property; i.e. Local improvement district (LID) or zoning changes, etc.? Are there any structural problems with the improvements? Are there any structural problems with the foundation? Have any substantial additions or alterations been made without a building permit? Has the fireplace/wood stove/chimney/flue been cleaned? Has the fireplace/wood stove/chimney/flue been inspected?

Teaching Sample


PROPERTY ADDRESS:



The SELLER certifies that the information herein is true and correct to the best of the SELLER’S knowledge as of the date signed by the SELLER. The SELLER is familiar with the residential property and each act performed in making a disclosure of an item of information is made and performed in good faith. SELLER and BUYER understand and acknowledge that the statements contained herein are the representations of the SELLER regarding the condition of the property. No statement made herein is a statement of a SELLER’S agent or agents, and no agent is authorized to make any statement, or verify any statement, relating to the condition of the property. SELLER and BUYER also understand and acknowledge that SELLER in no way warrants or guarantees the above information regarding the property. SELLER and BUYER also understand and acknowledge that, unless otherwise specifically set forth, no agent of the SELLER is an expert in environmental or other conditions which are or may be hazardous to human health, and which may exist on the property. BUYER MAY, AT BUYER’S OPTION AND EXPENSE, CONSULT WITH ANY INDEPENDENT QUALIFIED INSPECTOR TO ASSESS OR DETECT THE PRESENCE OF SUCH KNOWN OR SUSPECTED HAZARDOUS CONDITIONS. SELLER and BUYER understand that Listing Broker and Selling Broker in no way warrant or guarantee the above information on the property. SELLER hereby acknowledges receipt of a copy of this form:

SELLER DATE SELLER DATE BUYER hereby acknowledges receipt of a copy of this disclosure BUYER may only exercise BUYER’S statutory right to rescind the purchase and sale agreement within three (3) business days following receipt of this disclosure statement by a written, signed and dated document that is delivered to the seller or his agents by personal delivery, ordinary or certified mail, or facsimile transmission. Per statute BUYER’s rescission must be based on a specific objection to a disclosure in the disclosure statement. The notice of statutory rescission must specifically identify the disclosure objected to by the BUYER. If no signed notice of rescission is received by the SELLER within the three (3) business day period, BUYER’s statutory right to rescind is waived. The statutory rescission referenced in this section is separate and distinct from, and does not affect, any rescission, cancellation, or contingency term enumerated in any other written document related to this transaction, including but not limited to the purchase and sale agreement.

BUYER DATE BUYER DATE

AMENDED DISCLOSURE FORM: Subsequent to the delivery of the initial SELLER’S Property Condition Disclosure Form previously acknowledged, SELLER hereby makes the following amendments. (Attach additional pages if necessary.) Other than those amendments made below, the SELLER states that there have been no changes to the information contained in the initial SELLER’S Property Condition Disclosure Form. IF THERE ARE NO UPDATES, THERE IS NO NEED TO SIGN BELOW.

SELLER hereby acknowledges receipt of this amended form:

SELLER DATE SELLER DATE

BUYER hereby acknowledges receipt of a copy of this amended disclosure BUYER may only exercise BUYER’S statutory right to rescind the purchase and sale agreement within three (3) business days following receipt of this amended disclosure statement by a written, signed and dated document that is delivered to the seller or his agents by personal delivery, ordinary or certified mail, or facsimile transmission. Per statute BUYER’s rescission must be based on a specific objection to a disclosure in the disclosure statement. The notice of statutory rescission must specifically identify the disclosure objected to by the BUYER. If no signed notice of rescission is received by the SELLER within the three (3) business day period, BUYER’s statutory right to rescind is waived. The statutory rescission referenced in this section is separate and distinct from, and does not affect, any rescission, cancellation, or contingency term enumerated in any other written document related to this transaction, including but not limited to the purchase and sale agreement.

BUYER DATE BUYER DATE

OTHER DISCLOSURES SECTION Yes No Do Not Know Remarks

Are you aware or is there reason to believe that the home is located in a historic district or is a historic landmark? Are all mineral rights appurtenant to the property included, unencumbered, and part of the sale of this property? Has the home on this property ever been moved? Have you ever filed a homeowner’s insurance claim on the property? Is there a Home/Condo Owner’s Association? Is there a private road to this property? Is there a shared road agreement for this property? ADDITIONAL REMARKS AND/OR EXPLANATIONS SECTION: Yes No

Do Not Know If yes, explain in the lines below

Are you aware of any other existing problems concerning the property including legal, physical, product defects or other items that are not already listed?

Teaching Sample

RE-25A SELLER’S PROPERTY CONDITION DISCLOSURE FORM FOR EXEMPT PROPERTY ONLY




JULY 2019 EDITION RE-25A EXEMPTION- SELLER’S PROPERTY CONDITION DISCLOSURE FORM Page 1 of 1

Seller’s Name(s): Date: Property Address: Section 55-2501, et seq., Idaho Code, requires SELLERS of residential real property to complete a property condition disclosure form and deliver a signed and dated copy of the completed disclosure form to each prospective transferee or his agent within ten (10) calendar days of transferor's acceptance of transferee's offer. “Residential Real Property” means real property that is improved by a building or other structure that has one (1) to four (4) dwelling units or an individually owned unit in a structure of any size. This also applies to real property which has a combined residential and commercial use.

The referenced property herein is exempt from the code because of Section 55-2505 for any of the following reasons:

A transfer pursuant to court order including, but not limited to a transfer ordered by a probate court during the administration of the decedent’s estate, a transfer pursuant to a writ of execution, a transfer by a trustee in bankruptcy, a transfer as a result of the exercise of the power of eminent domain, and a transfer that results from a decree for a specific performance of a contract or other agreement between persons:

A transfer to a mortgagee by a mortgagor by deed in lieu of foreclosure or in satisfaction of the mortgage debt: A transfer to a beneficiary of a deed of trust by trust or in default: A transfer by a foreclosure sale that follows a default in the satisfaction of an obligation secured by a mortgage: A transfer by a sale under a power of sale following a default in the satisfaction of an obligation that is secured by a deed of trust or

another instrument containing a power of sale occurring within one (1) year of foreclosure on the default: A transfer by a mortgagee, or beneficiary under a deed of trust, who has acquired the residential real property at a sale conducted

pursuant to a power of sale under a mortgage or deed of trust or who has acquired the residential real property by a deed in lieu of foreclosure:

A transfer by a fiduciary in the course of the administration of a decedent’s estate, a guardianship, a conservatorship or a trust: A transfer from one (1) co-owner to one (1) or more other co-owners: A transfer made to the transferor’s spouse or to one (1) or more persons in the lineal line of consanguinity of one (1) or more of the

transferors: A transfer between spouses or former spouses as a result of a decree of divorce, dissolution of marriage, annulment or legal

separation or as a result of a property settlement agreement incidental to a decree of divorce, dissolution of marriage, annulment or legal separation.

A transfer to or from the state, a political subdivision of the state, or another governmental entity: A transfer to a transferee who has occupied the property as a personal residence for one (1) or more years immediately prior to the

transfer: A transfer from a transferor who has both not occupied the property as a personal residence within one (1) year immediately prior

to the transfer and has acquired the property through inheritance or devise: A transfer by a relocation company to a transferee within one (1) year from the date that the previous owner occupied the property: A transfer from a decedent‘s estate:

Seller certifies that he/she is exempt from the Seller’s disclosure by checking the applicable box above and signing this form on the line(s) below. SELLER DATE BUYER DATE SELLER DATE BUYER DATE

Teaching Sample

ADDENDUM #____________(All addendums shall be numbered sequentially.)

RE-27 SELLER’S RIGHT TO CONTINUE TO MARKET PROPERTY



BUYER'S Initials ( )( ) Date SELLER'S Initials ( )( ) Date


JULY 2019 EDITION RE-27 SELLER’S RIGHT TO CONTINUE TO MARKET PROPERTY ADDENDUM Page 1 of 2

Today’s Date: 1

2

This is an ADDENDUM to the Purchase and Sale Agreement Dated: 3

4

ADDRESS: ID#: 5

6

BUYER: 7

8

SELLER: 9

10

This Agreement provides for the SELLER to continue to market the property and accept other offers subject to BUYER’S right to waive or 11

remove the following contingency(s). Any waiver or removal of any contingency(s) set forth in this Addendum will be a waiver or 12

removal of all contingency(s) in this Addendum. 13

14

(a) Closing of on or before 15

16

Listed with 17

18

(b) Other (specify) 19

20

21

22

Upon waiver or removal of any contingency(s) specified, BUYER warrants that adequate funds needed to close will be available 23

and that BUYER’S ability to obtain financing is not conditioned upon sale and/or closing of any property. BUYER agrees to 24

provide SELLER within business days (two [2] if left blank) from waiver or removal of contingencies of this agreement by all 25

parties written confirmation of sufficient funds and/or proceeds necessary to close transaction. Acceptable documentation 26

includes, but is not limited to, a copy of a recent bank or financial statement. 27

28

ADDITIONAL NON-REFUNDABLE CONSIDERATION: Notwithstanding anything elsewhere to the contrary, to be effective, BUYER’S 29

written waiver or removal of the contingency(s) pursuant to the addendum must be delivered together with, and within the same time period 30

specified for delivery of BUYER’S written waiver or removal, additional non-refundable consideration in the amount of $ 31

which shall be non-refundable except in the event of SELLER’S default. Any such additional consideration shall be applied to the purchase 32

price at closing. 33

34

The additional non-refundable consideration shall be deposited in: a trust account or other 35

within business days (five [5] if left blank) from: acceptance of offer or by removal of the following contingencies: 36

Financing, Sale of a Home, Approval of final plans, See attached Addendum(s) Other . 37

38

NOTE: THE FAILURE TO SO DELIVER SAID ADDITIONAL CONSIDERATION TOGETHER WITH THE WRITTEN WAIVER OR 39

REMOVAL SHALL RENDER SUCH WAIVER OR REMOVAL NULL AND VOID, AND SHALL BE DEEMED TO BE AND TREATED AS 40

IF BUYER HAD NOT WAIVED OR REMOVED THE CONTINGENCY(S) SPECIFIED HEREIN. 41

42

BUSINESS DAYS: A business day is herein defined as Monday through Friday, 8:00 A.M. to 5:00 P.M. in the local time zone where the 43

subject real PROPERTY is physically located. A business day shall not include any Saturday or Sunday, nor shall a business day include 44

any legal holiday recognized by the state of Idaho as found in Idaho Code §73-108. If the time in which any act required under this 45

agreement is to be performed is based upon a business day calculation, then it shall be computed by excluding the calendar day of 46

execution and including the last business day. The first business day shall be the first business day after the date of execution. If the last 47

day is a legal holiday, then the time for performance shall be the next subsequent business day. 48

49

50

CONTINGENCY RELEASE CLAUSE: This agreement is subject to SELLER’S right to market the property and accept other offers as 51

specified in this Addendum. SELLER shall have the right to continue to offer the herein property for sale and to accept written offers, 52

subject to the rights of the BUYER, until such time as said contingency(s) have been waived or removed by BUYER. Should SELLER 53

receive another acceptable offer to purchase, SELLER shall give BUYER written notice of such acceptable offer. BUYER shall 54

have________ consecutive hours (seventy-two [72] if left blank) to waive or remove all BUYER(S) contingencies in this 55

Teaching Sample

JULY 2019 EDITION RE-27 SELLER’S RIGHT TO CONTINUE TO MARKET PROPERTY ADDENDUM Page 2 of 2 PROPERTY ADDRESS: ID#:


JULY 2019 EDITION RE-27 SELLER’S RIGHT TO CONTINUE TO MARKET PROPERTY ADDENDUM Page 2 of 2

addendum. In the event BUYER does not waive or remove the contingency(s) in writing within the hours noted above, then the purchase 56

and sale agreement shall be terminated and all deposits returned to BUYER less expenses incurred on BUYER’S behalf to date of 57

termination. In the event BUYER(S) elect to waive such contingencies after receipt of said notice, BUYER shall proceed to purchase the 58

property under the remaining terms and conditions of this Agreement, notwithstanding that the terms and conditions of the new offer may 59

be more or less favorable. 60

61

To the extent the terms of this ADDENDUM modify or conflict with any provisions of the Purchase and Sale Agreement including all prior 62

Addendums or Counter Offers, these terms shall control. All other terms of the Purchase and Sale Agreement including all prior 63

Addendums or Counter Offers not modified by this ADDENDUM shall remain the same. Upon its execution by both parties, this agreement 64

is made an integral part of the aforementioned Agreement. 65

66

67

Date Time AM PM Buyer / 68

69

Date Time AM PM Seller / 70

71

72

73

NOTICE TO REMOVE CONTINGENCY(S) 74

75

BUYER is hereby notified that SELLER has received a written acceptable offer conditioned upon BUYER’S rights to remove the 76

contingency(s) in (a) and/or (b) above. 77

78

Date Time AM PM Seller / 79

80

81

82

83

84

REMOVAL OF CONTINGENCY(S) 85

86

I/We: WILL REMOVE WILL NOT REMOVE the contingency(s) in the above agreement. 87

88

89

Date Time AM PM Buyer / 90

91

92

93

Teaching Sample

RE-32 MULTIPLE COUNTER OFFER #____________ (1,2,3 etc.)

THIS COUNTER OFFER SUPERSEDES ALL PRIOR COUNTER OFFERS

JULY 2019 EDITION

Page 1 of 1



JULY 2019 EDITION RE-32 MULTIPLE COUNTER OFFER Page 1 of 1

Today’s Date: 1

2

This is a Multiple Counter Offer to the Purchase and Sale Agreement Dated: 3

4

ADDRESS: ID#: 5

6

BUYER: 7

8

SELLER: 9

10

Acceptance of the above referenced Purchase and Sale Agreement and/or any applicable Counter Offer is contingent upon agreement to the following 11

terms: 12

SELLER is making one or more counter offer(s) to other prospective BUYER(s) on terms that may or may not be the same or similar to the 13

terms contained herein. Acceptance of this Multiple Counter Offer by BUYER shall not be binding unless and until it is subsequently re-signed 14

by SELLER and the re-signed copy is delivered in person or by mail, facsimile or electronic transmission to the BUYER or BUYER’S Agent within 15

the time specified herein on line 45. 16

17

The Parties understand and agree that SELLER is not obligated to accept any offer, counter offer or multiple counter offer submitted. Further, the 18

Parties understand and agree that SELLER may sell the property to any person and upon any terms deemed acceptable to the SELLER, in the 19

SELLER’S sole discretion, whether or not the terms of the final sale are the same, similar or different to the terms contained herein. Until 20

Final Acceptance has occurred either Party may withdraw any offer, counter offer or multiple counter offer to buy or sell the PROPERTY. 21

22

23

24

25

26

27

28

29

30

31

32

33

34

35

36

To the extent the terms of this Multiple Counter Offer modify or conflict with any provisions of the Purchase and Sale Agreement including all prior 37

Addendums and Counter Offers, these terms shall control. All other terms of the Real Estate Purchase and Sale Agreement including all prior Addendums or 38

Counter Offers not modified by this Multiple Counter Offer shall remain the same. Buyer and Seller acknowledge the down payment and/or loan amount on 39

Page 1 of Purchase & Sale Agreement may change if purchase price is changed as part of this Counter Offer. If original offer has expired, has been 40

revoked and/or acceptance is late, then execution of this Multiple Counter Offer by Buyer and Seller granting Final Acceptance shall 41

constitute consent to revive and retender the original offer. Upon its execution by both parties, this agreement is made an integral part of the 42

aforementioned Agreement. Unless Acceptance of this Multiple Counter Offer is signed by BUYER and a signed copy delivered in person or by mail, 43

facsimile, or electronic transmission and received by SELLER or SELLER’S Agent by (date): at 44

A.M. P.M., this Multiple Counter Offer shall be considered expired. SELLER acknowledges receipt of a 45

copy hereof. 46

47

48

SELLER: Dated: Time: A.M. P.M. 49

50


52

BUYER’S ACCEPTANCE 53

The BUYER hereby agrees to the terms and conditions of this Multiple Counter Offer and acknowledges receipt of a copy hereof. Unless Final Acceptance 54

of this Multiple Counter Offer is signed by SELLER and a signed copy delivered in person or by mail, facsimile, or electronic transmission and received by 55

BUYER or BUYER’S Agent by (date): at A.M. P.M., this Multiple Counter Offer shall be considered expired. 56

57

BUYER: Dated: Time: A.M. P.M. 58

59

BUYER: Dated: Time: A.M. P.M. 60

61

SELLER’S FINAL ACCEPTANCE 62

Signature by SELLER below and delivery to BUYER or BUYER’S Agent as indicated above creates a Final Acceptance and a binding agreement. SELLER 63

agrees to sell the PROPERTY to the BUYER subject to the terms and conditions contained herein. 64

65


67

68


Teaching Sample

RE-33 PROMISSORY NOTE




JULY 2019 EDITION RE-33 PROMISSORY NOTE Page 1 of 1

ID# 1

(Address) 2

3

(City) (State) (Zip) 4

, 20 . 5

(Date) 6

7

$ 8

(Dollar amount) (Note due date) 9

10

I/We promise to pay to the SELLER OR Other 11

12

the principal sum of 13

14

dollars ($ ), in lawful 15

money of the United States of America, together with interest on the principal balance of this Promissory Note at 16

the rate of percent ( %) per annum from the date hereof until this Promissory Note is 17

fully paid. Principal and Interest to be tendered as follows: 18

Directly to SELLER 19

To Brokerage______________________________ for benefit of SELLER OR Other______________ 20

To Closing company__________________________ for benefit of SELLER OR Other______________ 21

To Other 22

23

24

25

All payments made under this Promissory Note shall be applied first to accrued interest on the unpaid 26

principal and then to the principal balance. This Promissory Note may be prepaid in whole at any time by paying 27

the principal amount to be prepaid together with accrued interest thereon to the date of prepayment. In the event 28

that any installment or interest due thereon is not paid within ten (10) calendar days after the same becomes due 29

and payable, the whole of the principal sum then remaining unpaid, together with the interest that shall have 30

accrued thereon, shall become immediately due and payable at the election of the holder of this note, without 31

notice. 32

33

The undersigned hereby agree(s) to pay all costs of collection, including reasonable attorney fees and 34

legal expenses if this Promissory Note is not paid when due, whether or not legal proceedings are commenced. 35

The undersigned expressly waive presentment, demand, diligence, protest and all notices of any kind whatsoever 36

with respect to this Promissory Note. Any forbearance by the holder of this Promissory Note in exercising any 37

right or remedy under this Promissory Note, shall not be a waiver of, or preclude the exercise of any right or 38

remedy. 39

40

This Note shall be governed by and construed in accordance with the laws of the State of Idaho. 41

42

43

MAKER Signature MAKER (Print Name) 44

45

46

MAKER Signature MAKER (Print Name) 47

Teaching Sample

RE-41 AGENCY REPRESENTATION & RESPONSIBLE BROKER DISCLOSURE

JULY 2019 EDITION

Page 1 of 1



JULY 2019 EDITION RE-41 AGENCY DISCLOSURE Page 1 of 1

ID# DATE 1

2

LISTING AGENCY Office Phone # Fax # 3

Listing Agent E-Mail Phone # 4

5

SELLING AGENCY Office Phone # Fax # 6

Selling Agent E-Mail Phone # 7

8

1. BUYER(S): 9

10

2. SELLER(S):______________________________________________________________________________________________ 11

12

3. PROPERTY ADDRESS AND LEGAL DESCRIPTION. The property address and the complete legal description of the property are as 13

set forth below. 14

Address 15

City County ID, Zip16

Legal Description 17

18

or Legal and/or Property Description Attached as exhibit (Exhibit must accompany original offer and be 19

signed or initialed by BUYER and SELLER.) 20

21

4. The undersigned party(ies) acknowledges that each party will be represented by the Listing and Selling Agencies as follows: 22

23

REPRESENTATION CONFIRMATION: Check one (1) box in Section 1 and one (1) box in Section 2 below to confirm that in this 24

transaction, the brokerage(s) involved had the following relationship(s) with the BUYER(S) and SELLER(S). 25

Section 1: 26

A. The brokerage working with the BUYER(S) is acting as an AGENT for the BUYER(S). 27

B. The brokerage working with the BUYER(S) is acting as a LIMITED DUAL AGENT for the BUYER(S), without an 28

ASSIGNED AGENT. 29

C. The brokerage working with the BUYER(S) is acting as a LIMITED DUAL AGENT for the BUYER(S) and has an 30

ASSIGNED AGENT acting solely on behalf of the BUYER(S). 31

D. The brokerage working with the BUYER(S) is acting as a NONAGENT for the BUYER(S). 32

33

Section 2: 34

A. The brokerage working with the SELLER(S) is acting as an AGENT for the SELLER(S). 35

B. The brokerage working with the SELLER(S) is acting as a LIMITED DUAL AGENT for the SELLER(S), without an 36

ASSIGNED AGENT. 37

C. The brokerage working with the SELLER(S) is acting as a LIMITED DUAL AGENT for the SELLER(S) and has an 38

ASSIGNED AGENT acting solely on behalf of the SELLER(S). 39

D. The brokerage working with the SELLER(S) is acting as a NONAGENT for the SELLER(S). 40

41

Each party signing this document confirms that he has received, read and understood the Agency Disclosure Brochure adopted or 42

approved by the Idaho real estate commission and has consented to the relationship confirmed above. In addition, each party confirms that 43

the brokerage's agency office policy was made available for inspection and review. EACH PARTY UNDERSTANDS THAT HE IS A 44

“CUSTOMER” AND IS NOT REPRESENTED BY A BROKERAGE UNLESS THERE IS A SIGNED WRITTEN AGREEMENT FOR 45

AGENCY REPRESENTATION. 46

47

5. THE RESPONSIBLE BROKER SHALL BE: . The Responsible 48

Broker shall be accountable for holding the completely executed copy of the underlying Purchase and Sale Agreement. 49

50

BUYER does currently hold an active Idaho real estate license. BUYER is related to agent. 51

52

BUYER: Date: 53

54

BUYER: Date: 55

56

SELLER does currently hold an active Idaho real estate license. SELLER is related to agent. 57

58

SELLER: Date: 59

60

SELLER: Date: 61

Teaching Sample

RE-50 DELAYED POSSESSION RENTAL AGREEMENT (Seller Occupancy After Closing)



LANDLORD'S Initials (________)(________) Date ______________ TENANT'S Initials (________)(________) Date _______________


JULY 2019 EDITION RE-50 DELAYED POSSESSION RENTAL AGREEMENT Page 1 of 2

Date: ________________________________________________ 1

TENANT(s) ____________________________________________________________________________________________________ 2

agree(s) to rent from LANDLORD____________________________________________________________________________________ 3

the property commonly known as _________________________________________________________________________________ 4

in _____________________ County, Idaho (the “PREMISES”) on the following terms and conditions: 5

1. RENT. The rent shall be $________________ per ________ OR $_____________ as a flat rate and full payment for the term of 6

the lease. An initial payment of $________________ as the first period’s advance rent payment OR full advance payment for the 7

term of the lease is accompanied herewith and receipt is hereby acknowledged is due no later than: _____________________. 8

Future rents shall be payable in advance on the _________ day of each __________, commencing on 9

_______________________________. Rent shall be payable to __________________________________________________________ 10

at ____________________________________________________________________________________________________________. 11

12

2. SECURITY DEPOSIT. TENANT shall tender on or before closing $_____________ as a security deposit to be applied against 13

damage or changes by TENANT to the PREMISES. Pursuant to Idaho law security deposits cannot be applied to normal wear and tear, 14

must be returned to TENANT within twenty-one [21] days after surrender of the PREMISES and if not returned in full must be accompanied 15

by a signed statement itemizing the amounts lawfully retained, the purpose for retention and a detailed list of expenditures made from the 16

deposit. Security Deposit shall be held by: LANDLORD Selling Broker other: for the benefit of the parties hereto. 17

18

3. POSSESSION. TENANT is entitled to possession on the closing of the sale of PREMISES. 19

20

4. TERM. This Agreement shall terminate on ____________________________ or upon the complete vacancy and surrender of 21

the PREMISES by TENANT, whichever occurs first. Upon termination, any rent paid in advance shall be pro-rated on a daily basis, and 22

the surplus portion shall be refunded to TENANT within 48 hours of termination. 23

24

5. INSURANCE. LANDLORD agrees to keep the PREMISES insured against fire, personal injury liability and other normal 25

casualties. All proceeds of any such policy shall be payable to LANDLORD alone. LANDLORD shall have no responsibility for insuring 26

anything in or on the Property which belongs to the TENANT. TENANT is strongly encouraged OR required to obtain the proper 27

amount of renters insurance. 28

29

6. TAXES. LANDLORD shall be responsible for all property taxes associated with the PREMISES during the term of this 30

Agreement. 31

32

7. UTILITIES. TENANT agrees to pay for all utilities, including garbage collection charges and irrigation assessments, during the 33

term of this Agreement. 34

35

8. IMPROVEMENTS. TENANT shall not be entitled to make any improvements or alterations in the PREMISES, including painting, 36

during the term of this Agreement without the express written permission of LANDLORD. TENANT will return the PREMISES to 37

LANDLORD in as good a condition as it was upon possession, ordinary wear and tear excepted. TENANT shall be prohibited from 38

allowing liens to be filed against the PREMISES. In the event a lien is recorded against the PREMISES due to TENANT’S actions, or 39

inactions, TENANT shall indemnify LANDLORD from the same and pay any reasonable costs and attorneys fees associated with removal 40

of said lien. 41

42

9. DEFAULT. Failure of tenant to abide by any term of this Agreement, including the prompt payment of rent, shall constitute a 43

default under this Agreement. Upon default LANDLORD shall be entitled to all legal remedies available under any purchase and sale 44

agreement as well as entitlement to the possession of the property and eviction remedies authorized by Idaho Code Title 6 Chapter 3. 45

Further, due to the special circumstance of the PREMISES being sold to LANDLORD, if TENANT fails to timely surrender the PREMISES 46

precisely when required, TENANT shall be liable to LANDLORD for hold over rent and consequential damages, all of which shall be subject 47

to treble damages, regardless of TENANT’S motive, intent or lack of malice, wantonness or oppression. Or, in place of all damages stated 48

herein, LANDLORD can accept, for each day held over, an amount equal to three times the daily rent indicated herein as liquidated 49

damages. 50

51

10. SUBLETTING OR ASSIGNMENT. TENANTS may not sublet the PREMISES and may not assign TENANT’S rights under this 52

Agreement. 53

54

Teaching Sample




11. RELEASE OF REAL ESTATE BROKERAGES. LANDLORD and TENANT release all real estate brokerages, their licensees and 1

employees, and agree to indemnify all brokers, their licensees and employees from any and all claims arising as a result of this Agreement 2

or the TENANTSs possession of the PREMISES. 3

4

12. ATTORNEY'S FEES. If either party initiates or defends any arbitration or legal action or proceedings which are in any way related 5

to this Agreement, the prevailing party shall be entitled to recover from the non-prevailing party reasonable costs and attorney's fees, 6

including such costs and fees on appeal. 7

8

13. SMOKE DETECTOR. It is TENANT’S responsibility to maintain the smoke detector(s) as specified by the manufacturer, including 9

monitoring and replacement of batteries, if required. 10

11

14. LEAD PAINT DISCLOSURE: The PREMISES is is not defined as “Target Housing” regarding lead-based paint or lead-based 12

paint hazards. The term lead-based paint hazards is intended to identify lead-based paint and all residual lead-containing dusts and soils 13

regardless of the source of the lead. If yes, TENANT hereby acknowledges the following: (a) TENANT has been provided an EPA 14

approved lead-based paint hazard information pamphlet, “Protect Your Family From Lead in Your Home”, and (b) TENANT acknowledges 15

there is a potential for the presence of lead-based paint hazards in said PREMISES. Additionally, if any structure was built before 1978 16

and is a residential home, apartment or child-occupied facility such as a school or day-care center, federal law requires contractors that 17

disturb lead-based paint in that structure to provide the owner with a “Renovate Right” pamphlet. The contractor shall be certified and follow 18

specific work practices to prevent lead contamination. 19

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15. MOLD DISCLAIMER: TENANT is hereby advised that mold and/or other microorganisms may exist in the PREMISES. 21

TENANT acknowledges and agrees to accept full responsibility and risk for any matters that may result from mold and/ or other 22

microorganisms and to hold LANDLORD and any Broker or agent representing LANDLORD or TENANT harmless from any 23

liability or damages (financial or otherwise) relating to such matters. 24

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14. OTHER TERMS AND/OR CONDITIONS: 26

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LANDLORD: Date: 44

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TENANT: Date: 49

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RE-51 RENTAL AGREEMENT (Occupancy Prior to Closing)



LANDLORD'S Initials (________)(________) Date ______________ TENANT'S Initials (________)(________) Date _______________


JULY 2019 EDITION RE-51 RENTAL AGREEMENT- OCCUPANCY PRIOR TO CLOSING Page 1 of 2

Date: ________________________________________________ 1

TENANT(s) 2

_____________________________________________________________________________________________________ 3

agree(s) to rent from LANDLORD____________________________________________________________________________________ 4

the property commonly known as _________________________________________________________________________________ 5

in _____________________ County, Idaho (the “PREMISES”) on the following terms and conditions: 6

1. RENT. The rent shall be $________________ per ________ OR $_____________ as a flat rate and full payment for the term of 7

the lease. An initial payment of $________________ as the first period’s rent payment OR full payment for the term of the lease is 8

accompanied herewith and receipt is hereby acknowledged is due no later than:__ ___________. Future rent shall be payable in 9

advance on the _________ day of each __________, commencing on __________. 10

Rent shall be payable to________________________ at ________________________________________________________. 11

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2. SECURITY DEPOSIT. TENANT shall tender prior to occupancy $_____________ as a security deposit to be applied against 13

damage or changes by TENANT to the PREMISES. Pursuant to Idaho law security deposits cannot be applied to normal wear and tear, 14

must be returned to TENANT within twenty-one [21] days after surrender of the PREMISES and if not returned in full must be accompanied 15

by a signed statement itemizing the amounts lawfully retained, the purpose for retention and a detailed list of expenditures made from the 16

deposit. Security Deposit shall be held by: LANDLORD Listing Broker other: for the benefit of the parties hereto. 17

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3. POSSESSION. TENANT is entitled to possession on ____________________________________________________________. 19

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4. TERM. This Agreement shall terminate on ____________________________. If the parties hereto enter into a Purchase and 21

Sale Agreement pertaining to the PREMISES , then this Agreement shall terminate on Closing of the sale of the PREMISES or, at the sole 22

discretion of the LANDLORD, upon any other termination of said Purchase and Sale Agreement.. At the time of Closing, advance rent paid 23

to LANDLORD shall be pro-rated on a daily basis, and TENANT shall be credited with any unused portion thereof. 24

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5. INSURANCE. LANDLORD agrees to keep the PREMISES insured against fire, personal injury liability and other normal 26

casualties. All proceeds of any such policy shall be payable to LANDLORD alone. LANDLORD shall have no responsibility for insuring 27

anything in or on the Property which belongs to the TENANT. TENANT is strongly encouraged OR required to obtain the proper 28

amount of renters insurance. 29

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6. TAXES. LANDLORD shall be responsible for all property taxes associated with the PREMISES during the term of this 31

Agreement. 32

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7. UTILITIES. TENANT agrees to pay for all utilities, including garbage collection charges and irrigation assessments, during the 34

term of this Agreement. 35

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8. IMPROVEMENTS. TENANT shall not be entitled to make any improvements or alterations in the PREMISES, including painting, 37

during the term of this Agreement without the express written permission of LANDLORD. In the event this Agreement terminates for any 38

reason other than TENANT’S purchase of the PREMISES, TENANT will return the PREMISES to LANDLORD in as good a condition as it 39

was upon possession, ordinary wear and tear excepted. TENANT shall be prohibited from allowing liens to be filed against the 40

PREMISES. In the event a lien is recorded against the PREMISES due to TENANT’S actions, or inactions, TENANT shall indemnify 41

LANDLORD from the same and pay any reasonable costs and attorneys fees associated with removal of said lien. 42

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9. DEFAULT. Failure of tenant to abide by any term of this Agreement, including the prompt payment of rent, shall constitute a 44

default under this Agreement. If TENANT and LANDLORD have entered into a purchase and sale agreement for the purchase of the 45

PREMISES, then a default under that purchase and sale agreement shall constitute a default under this Agreement. Similarly, default 46

under this agreement may, at the sole discretion of the landlord, also constitute a default under a purchase and sale agreement between 47

the parties. Upon default LANDLORD shall be entitled to all legal remedies available under any purchase and sale agreement as well as 48

entitlement to the possession of the property and eviction remedies authorized by Idaho Code Title 6 Chapter 3. Further, due to the special 49

circumstance of the PREMISES being designated for sale, if TENANT fails to timely surrender the PREMISES precisely when required, 50

TENANT shall be liable to LANDLORD for hold over rent and consequential damages, all of which shall be subject to treble damages, 51

regardless of TENANT’S motive, intent or lack of malice, wantonness or oppression. Or, in place of all damages stated herein, 52

LANDLORD can accept, for each day held over, an amount equal to three times the daily rent indicated herein as liquidated damages. 53

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Teaching Sample




10. SUBLETTING OR ASSIGNMENT. TENANT may not sublet the PREMISES and may not assign TENANT’S rights under this 55

Agreement. 56

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11. TIME. Time is of the essence in this Agreement. 58

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12. RELEASE OF REAL ESTATE BROKERAGES. LANDLORD and TENANT release all real estate brokerages, their licensees and 60

employees, and agree to indemnify all brokers, their licensees and employees from any and all claims arising as a result of this Agreement 61

or the TENANT’S possession of the PREMISES. 62

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13. ATTORNEY'S FEES: If either party initiates or defends any arbitration or legal action or proceedings which are in any way related 64

to this Agreement, the prevailing party shall be entitled to recover from the non-prevailing party reasonable costs and attorney's fees, 65

including such costs and fees on appeal.. 66

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14. SMOKE DETECTOR. It is TENANT’S responsibility to maintain the smoke detector(s) as specified by the manufacturer, including 68

monitoring and replacement of batteries, if required. 69

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15. LEAD PAINT DISCLOSURE: The PREMISES is is not defined as “Target Housing” regarding lead-based paint or lead-based 71

paint hazards. The term lead-based paint hazards is intended to identify lead-based paint and all residual lead-containing dusts and soils 72

regardless of the source of the lead. If yes, TENANT hereby acknowledges the following: (a) TENANT has been provided an EPA 73

approved lead-based paint hazard information pamphlet, “Protect Your Family From Lead in Your Home”, and (b) TENANT acknowledges 74

there is a potential for the presence of lead-based paint hazards in said PREMISES. Additionally, if any structure was built before 1978 75

and is a residential home, apartment or child-occupied facility such as a school or day-care center, federal law requires contractors that 76

disturb lead-based paint in that structure to provide the owner with a “Renovate Right” pamphlet. The contractor shall be certified and follow 77

specific work practices to prevent lead contamination. 78

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16. MOLD DISCLAIMER: TENANT is hereby advised that mold and/or other microorganisms may exist in the PREMISES. TENANT 80

acknowledges and agrees to accept full responsibility and risk for any matters that may result from mold and/or other microorganisms and to 81

hold LANDLORD and any Broker or agent representing LANDLORD or TENANT harmless from any liability or damages (financial or otherwise) 82

relating to such matters. 83

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14. OTHER TERMS AND/OR CONDITIONS: 85

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LANDLORD: Date: 101

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TENANT: Date: 106

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TENANT: Date: 108

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