In exchange for Seller agreeing to extend the closing date, Buyer agrees to pay Holder additional earnest money in the amount of $_____________________ on or before the date of ________________.

In the event that, within ____ days of the Binding Agreement Date, the appraised value comes in below the Purchase Price, the Buyer agrees to pay up to $____________________________ over the appraised value not the exceed the Purchase Price (“Buyer Adjusted Purchase Price). In the event that the Buyer’s Adjusted Purchase Price is less than the Purchase Price, the Seller agrees to reduce the original Purchase Price up to $__________________________ but not lower than the Buyer’s Adjusted Purchase Price (“Seller’s Adjusted Purchase Price”). If the Buyer’s Adjusted Purchase Price and Seller’s Adjusted Purchase Price are equal, the Buyer and Seller agree to execute an Amendment to the Sales Price reflecting the revised Purchase Price. If the Buyer’s Adjusted Purchase Price and Seller’s Adjusted Purchase Price are not equal, the Buyer shall have the right but not the obligation to terminate this Agreement by giving Notice to Seller within ____ days of Buyer receiving the appraisal. If the Buyer does not terminate by that date, Buyer waives the right to terminate and shall pay the original Purchase Price at Closing.

Buyer’s obligations in this Agreement are contingent upon the absence of asbestos-containing materials or, if present, confirmation that such materials are encapsulated and pose no safety hazard.

As additional consideration for Seller granting Buyer the right to terminate as set forth in the Due Diligence provision of this Agreement as modified herein, Buyer hereby agrees that Buyer is not currently under contract to purchase real property and shall not enter into any contract to purchase other real property (hereinafter “Other Contract”) unless Buyer has the ability to purchase all real property Buyer has entered into a contract to purchase (hereinafter “All Properties”).  In the event Buyer has or does enter into any such Other Contract, Buyer shall deliver to Seller (1) the All Cash Sale Exhibit and the Verification of Funds details required in that Exhibit demonstrating the ability to purchase All Properties or (2) a pre-qualification letter demonstrating the ability to obtain financing to purchase All Properties (hereinafter “Proof of Ability to Purchase”) within one Business Day of Binding Agreement or within one Business Day of entering into said Other Contract, whichever is later.  Buyer and Seller acknowledge that this requirement may occur multiple times in the event the Buyer enters into more than one Other Contract.  In the event Buyer fails to deliver the Proof of Ability to Purchase as required in this paragraph, Seller shall have the right to terminate the Agreement due to Buyer default and Seller shall be entitled to retain the earnest money as liquidated damages in full satisfaction of all claims of Seller against Buyer.

This Agreement is contingent upon Buyer obtaining confirmation that the covenants & restrictions will allow short term rental and that there are no actions Under Consideration (as defined in the GAR® Community Association Disclosure) to restrict short term rentals. If the covenants and restrictions do not allow the intended use of Property as a short term rental or restrictions are Under Consideration, Buyer may terminate this Agreement and receive a full refund of their earnest money by notice to the Seller no later than __________________________________. If the restrictions change during the contract period to disallow short term rental or a restriction becomes Under Consideration, the Buyer may terminate this Agreement and receive a full refund of their earnest money.

Earnest Money shall be paid to Seller as non-refundable option money, in consideration for Seller agreeing to allow Buyer to change the financing contingency to FHA (or VA).

Buyer’s obligations in this Agreement are contingent upon Level 2 chimney inspection verifying the chimney and flue are free of obstructions, creosote buildup, and structural defects.

Buyer has the right to terminate this Agreement and receive a refund of Buyer’s Earnest Money if the Buyer is denied funding from ______________________, a downpayment assistance program (“DPA”), and provides Seller with a written denial from the DPA within Financing Contingency Period.

Buyer’s obligations in this Agreement are contingent upon a licensed electrical contractor verifying that the electrical system is up to current code and free from safety hazards or necessary repairs.

Buyer’s obligations in this Agreement are contingent upon a licensed elevator inspector confirming that the system is in safe working order and compliant with local inspection standards.

Buyer’s obligations in this Agreement are contingent upon a licensed professional engineer reporting no material structural defects or conditions requiring immediate repair or which represent a safety hazard.

Buyer agrees that the Purchase Price shall increase by $______________ over next highest offer not to exceed a maximum Purchase Price of $_____________________. If other offers include escalation terms, this automatic increase made be used multiple times. In the event this escalation is used, the Seller will provide Buyer a copy of the offer used as a basis for the escalation or written confirmation by Seller’s Broker of the terms of the offer if the Seller has a written and signed agreement to keep the other offer confidential.

Buyer’s obligations in this Agreement are contingent upon Buyer confirming that airport or flight path noise does not exceed 60 dB DNL (60 decibels Day-Night Average Level)

Buyer’s obligations in this Agreement are contingent upon inspection of the foundation or crawl space revealing no water intrusion, major cracks, or evidence of structural settlement.

Buyer’s obligations in this Agreement are contingent upon proof that Community Association rules allow _______________________ [buyer’s intended use].

Seller shall have _______ days from the Binding Agreement Date to provide Buyer with ________________________ (“HOA Docs”). In the event that Seller fails to timely provide the HOA Docs, Buyer may terminate this Agreement within _______ days from the Binding Agreement Date by providing written Notice to Seller. Notwithstanding anything to the contrary contained herein, in consideration for the sum of Ten Dollars ($10) paid directly by the Buyer to the Seller, the receipt and sufficiency of which is hereby acknowledged by Seller (and which shall not be considered Earnest Money and shall not be refundable), the Seller agrees that, should the Buyer determine that for any reason the Property is unacceptable to Buyer, within _______ days of Buyer’s receipt of the HOA Docs, Buyer may terminate this Agreement.

Potential HOA Docs:
Declaration of Covenants, Conditions, and Restrictions (CC&Rs) for the Property, including any amendments thereto
⚫️ Bylaws of the Community Association
⚫️ Architectural Guidelines or Design Review Standards for the Community Association
⚫️ Annual Community Association budget (Current and Prior Year)
⚫️ Community Association meeting minutes for the last 12 months
⚫️ Most recent financial statements (balance sheet and income statement) for the Community Association
⚫️ Maintenance responsibility matrix for Community Association
⚫️ Records regarding recent (last 12 months) and upcoming capital expenditures, repairs and improvement
⚫️ Community Association engineering and structural reports
⚫️ Community Association services contracts – termite bond, pest control plan, landscaping, trash, elevator, security, etc.
⚫️ Community Association common area insurance
⚫️ Community Association pet policies and restrictions
⚫️ Community Association leasing policies and restrictions
⚫️ Community Association security policies
⚫️ Community Association amenity use and access documentation

Buyer’s obligations in this Agreement are contingent upon licensed HVAC contractor confirming that all heating and cooling systems are operational and do not require immediate repair or replacement.

Buyer and Seller agree that, in exchange for the Seller retaining possession for a period after Closing, Seller will purchase an insurance policy that provides comprehensive coverage for damage or loss of Seller’s personal property and at least $100,000.00 in personal liability coverage. The Seller will provide Buyer with a copy of the policy prior to closing.

Buyer’s obligations in this Agreement are contingent upon air quality and surface testing showing no presence of mold requiring remediation as determined by a mold professional who holds current certification from a nationally recognized mold certification body (e.g., IICRC, ACAC, NAMP) and regularly performs mold inspections or remediation as part of their professional services.

Buyer’s obligations in this Agreement are contingent upon a licensed plumber confirming that the plumbing system is free of active leaks and all fixtures are in good working order.

Seller’s obligations under this Agreement are contingent upon the issuance of Letters [“Testamentary” or “of Administration”] from the Probate Court on or before _______.  In the event said court order is not received by said date, Buyer may terminate this Agreement without penalty upon Notice to Seller and receive a full refund of their Earnest Money.

Seller’s obligations under this Agreement are contingent upon the issuance of Letters [“Testamentary” or “of Administration”] from the Probate Court on or before _______.  In the event said court order is not received by said date, Buyer may terminate this Agreement without penalty upon Notice to Seller and receive a full refund of their Earnest Money.  Buyer and Seller further agree that the Due Diligence Period is amended to be _____ days from the day Seller gives Notice to Buyer that the court order has been issued by said court.

Buyer and Seller acknowledge that a portion of the funds for Closing will come from the sale or lease of property.  The Buyer will provide to Seller the Required Information (as defined in the No Financing Exhibit) for the portion of funds that is currently available to the Buyer within ________ days of the Binding Agreement Date.  The Buyer will provide to Seller an estimated settlement statement for the sale of ________________________________ prepared by the closing attorney for that transaction with ______ days of the Binding Agreement Date.  The total funds shown is Required Information.  

In addition to the rights listed in the Right to Extend Closing Date contained in this Agreement, the Buyer may unilaterally extend the Closing Date for up to ten (10) days if the Property is not in the condition required under the Risk of Damage to Property paragraph.  The Seller will contribute $__________ to Buyer at closing as a result of the failure to complete repairs or deliver property in the required condition.  The seller will also pay at closing the cost of any rate lock extension charged by the lender as a result of the delay in the Closing Date.

Buyer’s obligations in this Agreement are contingent upon radon levels in the home testing below 4.0 picocuries per liter (pCi/L), as measured by a licensed radon professional.

Buyer’s obligations in this Agreement are contingent upon a professional roofing contractor, who maintains general liability insurance of at least $500,000 per occurrence and $1,000,000 aggregate, confirming that the roof has no active leaks and is expected to have at least five (5) years of remaining useful life.

Buyer and Seller agree that Seller will not complete the replacement of the roof prior to Closing. For and in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, it is agreed that the items referenced above shall be completed by Seller within 30 days after the Closing at Seller’s sole cost and expense. Seller warrants that the roof replacement will be completed in a good and workmanlike manner. This provision shall survive Closing. Additionally, the Buyer and Seller agree that the Buyer may unilaterally extend the Closing Date until 7 days after the roof replacement is complete if the Buyer is unable to secure insurance for any reason related to the age or condition of the roof.

For and in consideration of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree this Agreement is contingent upon Seller’s ability to enter into a contract to purchase replacement property within ______ days of the Binding Agreement Date (“Replacement Property Period”). If the Seller does not contract for the purchase of replacement property, the Seller may terminate this Agreement within one (1) day of the end of the Replacement Property Period. If the Seller does not terminate timely, the Seller waives the right to terminate.

Upon the expiration of the financing contingency contained in this Agreement, the Seller hereby requests delivery of the Buyer’s Evidence of ability to close per the Right of Seller to Request Evidence of Buyer’s Ability to Close paragraph of the financing contingency. If Evidence is not delivered to Seller within 8 days of the end of the financing contingency, Seller hereby notifies the Buyer that the Buyer will be in default and the Seller will have the right to exercise the remedy contained in the Seller’s Right to Terminate paragraph of the financing contingency.

Buyer’s obligations in this Agreement are contingent upon a licensed septic inspector confirming that the system does not indicate that the system is not functioning properly or recommends repair, replacement, pumping, or further evaluation.

If the restrictions change during the contract period to disallow short term rental or a restriction becomes Under Consideration (as defined in the GAR® Community Association Disclosure), the Buyer may terminate this Agreement and receive a full refund of their earnest money.

Buyer’s obligations in this Agreement are contingent upon the Buyer obtaining a survey of the Property that shows _____________________________________________ (“Survey Contingency”). Buyer must give Notice on or before ____________________ as to whether the Survey Contingency has been fulfilled and furnish Seller will a copy of the survey.
If the survey shows this Survey Contingency has been fulfilled, it is no longer part of the Agreement.
If the survey shows this Survey Contingency cannot be fulfilled, this Agreement will terminate
If Buyer does not give Notice and provide the survey timely the Contingency is deemed to have been satisfied.

Buyer’s obligations in this Agreement are contingent upon Seller lifting the current property tax appeal.

If the Buyer or the Seller unilaterally extends the Closing Date to allow Seller to satisfy “valid title objections” as defined in the Agreement, Seller will pay at closing the cost of any rate lock extension charged by the lender as a result of the delay in the Closing Date.

Buyer’s obligations in this Agreement are contingent upon water testing confirming potable quality and absence of harmful contaminants that exceed state, local or EPA standards.