Form 2043 – Fill Out and Use This PDF

53493283

This document has legal consequences.

© ST. LOUIS ASSOCIATION OF REALTORS ®

Approved by Counsel for the St. Louis Association of REALTORS ®

If you do not understand it, consult your attorney.

and by the Bar Association of Metropolitan St. Louis.

Form # 2043

04/11

To be used exclusively by REALTORS®

and members of the Bar Association of Metropolitan St. Louis.

This document has legal consequences.

SPECIAL SALE CONTRACT

If you do not understand it, consult your attorney.

Form # 2043

DATE:

2

,

4

of

Missouri (legal description on Seller's title to govern) being all the real property Seller owns at

5

said address:

.

16

$

is the total purchase/sale price to be paid as follows:

17

$

earnest money received for delivery to/deposit by

18

Title Partners Agency, LLC

, escrow agent. Selling broker to be

19

escrow agent if none specified above.

20

$

additional earnest money to be delivered to escrow agent within

21

days after the "Acceptance Deadline" date or

.

31

(the "Loan Commitment Date") then this condition shall be deemed

53493283

101

If any defects are discovered as a

result of the title examination, title commitment or the

102

survey

and

if

Buyer

chooses

to

act

on

this

contingency,

Buyer

shall

within

10

days

103

(25 if none stated) after the "Acceptance Deadline" date, furnish a copy of the document

104

evidencing the defect to Seller or listing

broker

stating, in

writing,

any

title

or survey

defects

105

that

are

1)

unacceptable

to

Buyer;

2)

not

listed

above;

and

3)

adversely

affect the

use

of

106

the

property

as

it

exists

for

residential

purposes

at the time of the

contract. Failure

by Seller

107

or listing broker to receive such

objections to title or survey within such time will

108

constitute

a

waiver by Buyer of any

objections

to

the

title

so

long as Buyer is able

to

obtain

109

at closing, an Owner's title insurance policy in the latest ALTA form including mechanics lien

110

coverage. If Buyer does timely object

to

any

title

or survey defects, Seller has five

(5)

days

111

from receipt of Buyer's notice of objection by Seller or listing broker,

to agree

in

writing

to

112

correct the defects prior to closing

at

Seller's expense. If Seller does not so agree,

this

113

contract is terminated unless Buyer,

within

two

(2)

additional

days,

agrees

in

writing

to

114

accept the title and survey "as is".

If the contract is terminated in accordance with the

115

provisions

of this

paragraph,

Buyer's

earnest money to be refunded, subject to paragraph

116

12, and Seller agrees to reimburse

Buyer's

cost

to

pay

for

title,

survey,

inspection(s)

and

117

appraisal.

Seller

shall

be

responsible

for clearing

any

defects

that

arise between the date

of

120

of the property. Construction of improvements (for example: a room addition, fence or

123

all easements, government regulations, and subdivision indentures before making an offer to

125

easements, surveys, indentures, or other matters affecting title or use of the property, he should

128

Buyer and Seller shall have prorated and adjusted

between

them on

the

basis

of

thirty (30)

129

days to

the month

as of

the date of

closing

(Seller

to pay

for

last

day);

current

rents (Seller

130

to receive rent for day of closing); rents which are delinquent over thirty (30) days are to be

131

collected by seller and not adjusted; general taxes

(based

on

assessment

and

rate

for

132

current year, if both are available, otherwise, based on previous year); district improvement

133

assessments for current year (buyer to pay thereafter); subdivision upkeep assessments and

134

monthly condominium fees; interest (when Buyer

assumes existing loan); flat rate utility

135

charges including waste, sewer and trash. Seller to pay for special taxes and special

136

assessments levied before closing. Buyer shall pay

the Seller the fair market value of any

137

heating oil or propane gas in tank(s) on the property at closing based

on

suppliers

current

138

charges. Seller and/or Buyer to pay real estate

compensation to broker(s) per separate

139

written

agreement;

Seller

authorizes

selling

portion

of commission

to

be

paid

directly

to

142

Risk of loss to the improvements of the property shall be borne by the Seller until title is

143

transferred.

If any

improvements covered by this contract are damaged or

destroyed,

Seller

144

shall immediately notify Buyer or selling broker

in writing of the damage or destruction,

the

145

amount of insurance proceeds payable, if any, and whether Seller intends prior to closing,

to

146

restore

the

property

to its condition at the time

of the contract. In the event

Seller

restores

147

the

property

to

its

prior condition before scheduled closing, and

provides

Buyer with

proof

of

148

the

repairs,

Buyer

and

Seller shall proceed with closing. In

the

event

the

149

property is not to be restored to its prior condition by the Seller before closing, Seller shall

150

immediately

provide

Buyer

or selling broker with a copy of any

policies

of

insurance,

the

151

name

and

number

of

the

agent

for

each

of

said

policies,

and

written

authorization

(if

152

needed)

for

Buyer

to communicate with the insurer. Buyer may either

a)

proceed

with

153

closing and be entitled to the amount of insurance proceeds relating to real property

154

improvements, if any, payable to Seller under

all policies insuring the improvements

plus

155

receive

a

credit

from the Seller at

closing

in

an

amount equal

to

the deductible not

covered

156

by

insurance,

or

b) terminate the contract, thereby releasing all parties from liability

157

hereunder. If all of the aforementioned insurance information is received

by

the

Buyer

or

158

selling

broker more

than ten (10) days prior to the scheduled closing date,

Buyer

is

to give

159

written

notification to Seller

or listing broker as to his election of

(a)

or (b)

above

within

ten

160

(10)

days

after

the

Buyer or selling broker's receipt of such information; and

if not

received

161

by Buyer

or

selling

broker more than ten (10) days prior to the scheduled closing

date,

Buyer

162

may, at Buyer's option and

by written notice to Seller or listing broker, extend

the

closing

163

date up to ten (10) days,

during which time Buyer may make his election

as to

(a) or

(b)

164

above.

Failure

by

Buyer to notify Seller shall constitute an election

to

terminate

the

165

contract.

If

the

contract

is

terminated

in

accordance

with the

provisions

of

this

paragraph,

169

This

contract is assignable

by Buyer,

but

not without the written

consent

of

Seller

if

a) Seller

170

is taking back a note and deed of trust as

part

of the purchase price, or

b)

Buyer

is

assuming

171

the

existing note. Assignment

does not

relieve the

parties from their

obligations

under

this

contract.

3 of 6

173

Time is of the essence in the performance of the obligations of the parties. All references to a

180

this contract shall be deposited

within

ten (10) banking days after the "Acceptance

181

Deadline" date.

Additional earnest

money,

if applicable, is to be deposited by escrow

182

agent within ten

(10) banking days

after

receipt. Any earnest money received within ten

185

the

purchase. If

any earnest money

is

being

returned to Buyer, Buyer agrees

186

that

any expenses

for services requested

by

Buyer

may be withheld by escrow agent and

188

In the event of a dispute over any earnest

money

held by the escrow agent, the escrow

189

agent shall continue to hold said deposit

in

its

escrow account until: 1) escrow agent has a

190

written release from all

parties

consenting

to

its

disposition;

or 2) until a civil

action

is

filed

191

to determine its disposition (at which time payment

may be made into court,

and

in

such

192

event, court costs and escrow agent's attorney fees

will be

paid

from

earnest

money);

or 3)

193

until a final court judgment mandates its disposition;

or 4) as may be required by applicable

194

law. The parties specifically acknowledge and agree that whenever ownership of the earnest

195

money or any other escrowed funds, received by a Missouri licensed real estate broker, is in

196

dispute between the parties, said broker is required

by Missouri Statute, Section 339.105.4

197

RSMo to report and deliver the monies to the State Treasurer within 365 days of the initial

198

projected closing date.

Broker

shall not

report

and

deliver

any

such

monies

to the

State

205

If either party defaults in the performance of any obligation of this contract, the party claiming

207

notifying party may, but is not required to, provide the defaulting party with a deadline for

210

release Buyer from the contract (in lieu of making any claim in court), or may pursue any

213

this transaction will be reimbursed, and balance to go one-half to Seller, and one-half divided

214

equally between listing broker and selling broker (if working as subagent of Seller) in lieu of

215

commission on this contract. If the default is by Seller, Buyer may either release Seller from

228

understandings, written or oral, relating to the subject matter hereof. The contract may not be

231

Words and phrases shall be construed as in the singular or plural number, and as masculine,

233

to one

of the following: a) a broker

working

for

the Seller

under a

listing

234

contract; or b) a broker assisting the Seller as

a transaction broker, whichever is

235

appropriate. When the term "selling broker" is used, it

refers to one of the following: a) a

236

broker working for the Buyer under a buyer's agency

agreement; b) a broker assisting the

237

Buyer as a subagent of the Seller; or c) a

broker

assisting the Buyer as a transaction

238

broker,

whichever is appropriate. The term

"broker"

shall

include the

broker's

affiliated

242

Buyer may terminate this contract if

any portion of the property is located in a designated 100

243

year flood plain unless disclosed to

Buyer in writing prior to contract. If so terminated, earnest

246

Upon reasonable advance notice to Seller or listing broker, Seller agrees to provide access for

247

appraiser(s) and other professionals as may be provided for in the contract

or required by

248

Buyer's lender or insurer. Buyer and selling broker may be present. Seller grants Buyer and

249

selling

broker

the right

to

enter and walk-through

the property and the

right

to

have

250

utilities

turned

on or transferred, at Buyer's expense, within four (4) days prior

to closing.

This

251

right is

for the

Buyer to

see

that the property is in the

same condition, ordinary wear

and

tear

253

The closing does not relieve Seller of his obligation to complete improvements and repairs

258

259

260

261

262

263

Inspection Rider (Form #2184)

Short Sale Rider (Form #2176)

264

Other #

Other #

266

Buyer confirms

that

before

signing this offer

to purchase, Buyer has read a copy of the

267

Seller's Disclosure Statement for this property. The Seller's Disclosure Statement is not a

268

substitute for any inspection that

Buyer may wish to obtain. Buyer is advised to address any

269

concerns Buyer

may

have

about

information in

the statement by use of contingencies in the

271

Seller agrees to

provide Buyer

with a Seller's Disclosure Statement within one (1) day after

272

the "Acceptance Deadline" date. Buyer shall have three (3) days after the "Acceptance

273

Deadline"

date

to review said

statements and

to declare in

writing that the

contract is

274

terminated

with

earnest money

to be returned to

Buyer, subject

to paragraph 12,

otherwise,

(“Seller”) and

(“Buyer”) concerning the property known as

___________________________________________ . Seller and Buyer agree that the

SIGNED FOR IDENTIFICATION this day of

, 2011.

561569-1

3