Buyer Contracts
** Buyer Agreement –Exclusive Right to Represent Buyer (Do not submit this with your contract offer)
Elements of a contract offer:
Residential Sales Contract
- Conventional Financing Addendum| FHA | VA
- Lender approval letter
- Copy of Earnest Money Deposit
- Property disclosure form (if seller provides it in MLS in documents)
DETAILS
The Buyer agreement
- States we represent buyer,
- States buyer will pay 2.5% commission.
- But in sales contract we will state that the seller is paying it for the buyer.
- Buyer agreement signed by client, and not submitted with contract offer.
- After client signs: Submit in case processing sheets.
- Broker Paul Hartke will sign and return to you to provide to client.
- The Buyer Agreement is not submitted to listing agent with offer.
- The Sales Contract
- Full price suggested.
- Seller paying buyer broker commission
- MBH Settlement – see 18 locations in VA (pdf) plus DC,MD
- America’s Preferred Home Warranty. For buyers or sellers. See prices and application (pdf)
- Financing Addendum (Conventional)
- Buyer to apply for formal loan application asap after ratification.
- Write 25 days to remove financing contingency.
- Lender letter of approval
Lender Andy Sikora Colonial Mortgage (703) 505-2999 andy@andysikora.com - Copy of EMD check (earnest money) – Payable to National Realty and submitted into case processing sheets after ratification.
Home Inspection Contingency Also included Radon Inspection (less common)
Escalation Addendum – Used to outbid other offers.
Other Addendums if applicable:
Home Inspection Removal –Seller agrees to repair items and remove contingency.
Contingencies and Clauses – if applicable.
Lead Paint Disclosure – Required if home built before 1978.
Appraisal Contingency Notice – If appraisal comes in short.
Blank Addendum -for any general agreement.
Settlement locations sheet – To show buyer all MBH locations
Termination of (Void) Contract Notice Both addendums required
Release of Contract and Deposit Both addendums required