Kansas Estate Contract Form – Fill Out and Use This PDF

RESIDENTIAL REAL ESTATE SALE CONTRACT

1THIS CONTRACT is made between: (PRINT NAMES AND INDICATE MARITAL STATUS; IF NOT

2 COMPLETED, SELLER'S NAMES TO BE INSERTED BY LICENSEE ASSISTING SELLER PRIOR TO

3 PRESENTATION TO SELLER)

4

5 SELLER: ____________________________________________________________________________

6BUYER: _____________________________________________________________________________

7

8 Bank-Owned Property (check if applicable): If the real property is bank-owned and the titled owner

9 of record is not known at the Effective Date of this Contract, BUYER and SELLER agree the name of the

10SELLER is amended to as it is stated in the Deed at Closing and is incorporated herein by reference and in

11any amendments and addenda. SELLER warrants it has full authority to sign and perform on this Contract

12on behalf of the titled owner of record.

13

14CONTRACT, ADDENDA, INCLUSIONS AND PROCESSES

161. PROPERTY. BUYER agrees to purchase and SELLER agrees to sell the real property and the

17improvements thereon (the "Property") commonly known as:

18__________________________________________________ ______________________________

23LEGAL DESCRIPTION: (As described below)

24__________________________________________________________________________________

25_________________________________________________________________________________

26_________________________________________________________________________________

27__________________________________________________________________________________

29This Contract, including the Fixtures, Equipment and Appliances paragraph of the Seller’s Disclosure

30and Condition of Property Addendum (“Seller’s Disclosure”), not the MLS, or other promotional material,

31provides for what is included in the sale of the Property.

32

33Items listed in the “Additional Inclusions” or “Exclusions” below supersede the Seller’s Disclosure and

34the pre-printed list below. If there are no “Additional Inclusions” or “Exclusions” listed, the Seller’s

35Disclosure and the pre-printed list below govern what is or is not included in the sale.

36

37IF THERE ARE DIFFERENCES BETWEEN THE SELLER’S DISCLOSURE AND THE PRE-PRINTED

38LIST BELOW, THE SELLER’S DISCLOSURE GOVERNS. Unless modified by the Seller’s

39 Disclosure and/or the “Additional Inclusions” and/or the “Exclusions”, all existing

40improvements on the Property (if any) and appurtenances, fixtures and equipment (which

41SELLER agrees to own free and clear) whether buried, nailed, bolted, screwed, glued or

42otherwise permanently attached to the Property are expected to remain with Property, including,

43but not limited to:

44

50Floor Coverings (if attached)

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51 Improvements on the Property include a manufactured/mobile home. (A manufactured/mobile

52home may be considered personal property unless certain requirements have been met.)

53

54a. Additional Inclusions. The following items, if any, supersede the Seller’s Disclosure and the pre-

72c. Limited Home Warranty. (Check if applicable):

85Home warranty plans may not cover pre-existing conditions and are not a substitute for

86inspections.

882. ADDITIONAL TERMS AND CONDITIONS._______________________________________________

89__________________________________________________________________________________

90__________________________________________________________________________________

91__________________________________________________________________________________

92__________________________________________________________________________________

93__________________________________________________________________________________

94__________________________________________________________________________________

95__________________________________________________________________________________

973. ADDENDA. The following Addenda (riders, supplements, etc.) are attached hereto and are a part of

98this Contract (Check applicable boxes):

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105 a. Effective Date. The Effective Date will be the date of final acceptance by the last party to sign

106this agreement or a Counter Offer Addendum, and Addendum(s) including the following signed by

107all parties and attached hereto: The Brokerage Relationship Disclosure Paragraph of this

108agreement; SELLER completes and BUYER and SELLER have signed a Seller’s Disclosure

109and Condition of Property Addendum and, if applicable, a Lead Based Paint Disclosure

112b. Seller’s Disclosure Status. SELLER confirms information contained in the Seller’s Disclosure and

113Condition of Property Addendum is current as of the Effective Date of the Contract. SELLER

117c. Entire Agreement and Manner of Modifications. This Contract and all attachments constitute the

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147PURCHASE PRICE, FINANCIAL TERMS AND CLOSING AND POSSESSION

176(Purchase Price less a, b & c of this paragraph) on or before Closing Date

178e. Total Additional Seller Expenses (Each line $0 if left blank):

189f. Other Financing Costs.

1911. Loan Costs. BUYER agrees to pay all customary costs necessary to obtain the Loan(s)

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2035. APPRAISED VALUE CONTINGENCY.

205If Financing is being obtained, the appraisal must be completed before the Loan commitment

206due date.

208If a cash sale, BUYER may within _______ calendar days from the Effective Date of this Contract

209(within the Inspection Period if left blank) obtain, at BUYER’S expense, an appraisal of the Property by

210an independent licensed appraiser.

211

212If the final appraised value of the Property, as determined by BUYER’S Lender’s appraiser or if a

213cash sale, BUYER’S appraiser, is not equal to or greater than the Purchase Price, BUYER may

214notify SELLER in writing, attaching a copy of the appraisal, and the following will occur:

224above, either party may cancel the Contract by written notice to the other, and BUYER’S Earnest

2286. SALE CONTINGENCY. In the event the sale is contingent upon the sale and/or Closing of BUYER’S

229Property, the Contingency For Sale and/or Closing Of Buyer’s Property Addendum must be

230attached.

231

2327. FINANCIAL TERMS.

234THIS IS A CASH SALE. BUYER must provide written verification from a depository of funds on

235deposit within ____ calendar days (5 days if left blank) which are sufficient to complete the Closing on

236this Contract.

237

238 THIS IS A FINANCED SALE. This Contract is contingent upon BUYER obtaining the financing

239described in this paragraph.

240

241BUYER may obtain Loan(s) different from those described herein provided that the terms of the Loan(s)

242do not result in additional costs to SELLER, delay the Closing date, or change the Loan approval time

243frame. These changes must be agreed in writing, by both parties, within 3 days of BUYER’S knowledge

244and no later than ____ business days before Closing Date (15 days if left blank).

245

246BUYER and SELLER are hereby informed any changes to the terms below after the Effective Date of

247the Contract have the potential to delay Closing and/or change costs due to federal regulations.

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250b. Loan Types/Terms. BUYER will obtain a Loan(s) upon the following terms.

259Interest Rate:

269according to the provisions described herein (the “Loan”). The Loan(s) will be secured by a

273c. The Loan(s) will bear interest as follows:

281BUYER has the option to “lock in” the foregoing interest rate or to “float” the interest rate.

282

283If BUYER locks in a rate, BUYER agrees to accept the “locked” rate and terms even if different than

285from BUYER’S Lender(s) for which BUYER qualifies at Closing.

287d. Loan Application(s).

291checked BUYER’S credit and indicated BUYER can qualify for a Loan(s) in an amount equal to or

292greater than the Loan(s) contemplated in this Contract, subject to satisfactory appraisal of the

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303SELLER is aware that pre-approval is not a guarantee that BUYER will receive Lender(s)

304Loan approval(s).

306e. Loan Approval(s). BUYER agrees to make a good faith effort to obtain a commitment for the

308Contract (the “Loan Approval Period”) or within ________ calendar days (3 days if left blank) prior to

317In either case, BUYER’S Earnest Money will be subject to the provisions of the Earnest Money and

330BUYER’S Earnest Money will be subject to the provisions of the Earnest Money and Additional

3338. CLOSING AND POSSESSION. On or before _______________ (“Closing Date”), SELLER will

334execute and deliver into escrow with the title company(s) or other Closing Agent(s), a general warranty

335deed (or special warranty deed or fiduciary deed, if SELLER is a corporation, association, financial

336institution or fiduciary) and all other documents and funds necessary to satisfy SELLER’S obligations

337under this Contract.

338

339On or before the Closing Date, BUYER will execute and deliver into escrow with the title company(s) or

340other Closing Agent(s), all documents (including note(s), mortgage(s)/deed(s) of trust, and any other

341documents required by BUYER’S Lender(s), if BUYER is obtaining financing) and funds (including Loan

342proceeds, if BUYER is obtaining financing) necessary to satisfy BUYER’S obligations under this

343Contract.

344

345SELLER and BUYER acknowledge all funds required for Closing must be in the form of

346cashier’s check, wire transfer or other certified funds.

347

348When all documents and funds have been executed and delivered into escrow with the title company(s)

349or other Closing Agent(s), the Closing will be completed. SELLER will deliver possession of the

350Property to BUYER on ___________________________ at _____ o’clock ____. m., (if left blank,

351Possession will be 5:00 P.M. on the Closing Date).

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352BUYER must not occupy the Property or place personal property in or on it prior to completion

353of the Closing and disbursement or availability of SELLER’S proceeds, if any, unless otherwise

354agreed upon in writing by the BUYER and the SELLER.

355

356CONDITION, MAINTENANCE AND INSPECTIONS OF THE PROPERTY

3589. UTILITIES. SELLER agrees to leave all utilities on until the date of possession unless otherwise agreed.

359

360The BUYER will pay SELLER for the amount of fuel left in tank(s) at Closing based upon SELLER’S

361actual cost at time of purchase, if applicable. SELLER will have tank read no earlier than 7 days and no

362later than 3 days prior to the Closing Date and provide documentation to BUYER.

363

36410. MAINTENANCE OF PROPERTY. SELLER will maintain the Property in its present condition

365through the Possession Date. SELLER agrees to perform ordinary and necessary maintenance,

366upkeep and repair to the Property and to keep the improvements on the Property fully insured, unless

367otherwise disclosed, until delivery of SELLER’S deed to BUYER.

368

369SELLER must advise BUYER in writing of any substantial change in the condition of the Property prior

370to Closing.

371

372Unless otherwise agreed in writing, SELLER must remove all possessions, trash and debris, and clean

373the Property, upon vacating or prior to delivery of Possession.

374

37511. CASUALTY LOSS. If before delivery of the deed to BUYER, improvements on the Property are

376damaged or destroyed by fire or other causes including those that could be covered by what is known

377as fire and extended coverage insurance, then the SELLER must notify the BUYER in writing within 24

378hours of such damage. The parties agree that the risk of that damage or destruction will be borne as

379follows:

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40912. SURVEY. BUYER may, at BUYER’S expense, obtain a "Staked Survey” of the Property no later than

410_____ calendar days (10 days if left blank) prior to the Closing Date to assure there are no defects,

411encroachments, overlaps, boundary line or acreage disputes, or other such matters that would be

412disclosed by a survey.

413

414BUYER acknowledges a Mortgage Inspection Report or "Loan Survey" normally required by a lending

415institution is not a "Staked Survey”. A title insurance company typically requires a "Staked Survey” in

416order to provide survey coverage to the BUYER.

417

418Within 2 calendar days of BUYER’S receipt of Survey, BUYER must notify SELLER of any

419encroachments of any improvements upon, from, or onto the Property or any building setback line,

420property line, or easement, which encroachment will be deemed to be a title defect. SELLER must

421remedy such defects as are susceptible of being remedied prior to the Closing Date. If SELLER does

422not remedy the defects in title, BUYER will have one of the following options:

43013. INSPECTIONS. BUYER may, within _____ calendar days (10 days if left blank) (the "Inspection

431Period") after the Effective Date of this Contract, at BUYER’S expense, have property inspections by an

432independent, qualified inspector(s) which may include, but are not limited to:

433

434appliances, plumbing (including septic system), electrical, heating system, central air conditioning,

435fireplace, chimney, foundation, roof, siding, windows, doors, ceilings, floors, insulation, drainage, interior

436and exterior components, any wall, decks, driveways, patios, sidewalks, fences, slabs, pest infestation,

437health and/or environmental concerns (including lead based paint, mold, asbestos and radon) as

438provided below and in the Additional Disclosures Including Those Mandated by State or Federal Law

439paragraph.

440

441a. Property Insurability. It is recommended homeowner’s insurance availability be ascertained

449c. Access to Property and Re-Inspections. SELLER must provide BUYER reasonable access to the

450Property to conduct the inspections, re-inspections, inspection of any corrective measures

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459f. Wood-Destroying Insects. SELLER AGREES TO PAY TO HAVE THE PROPERTY TREATED

468The inspection report must be delivered WITHIN THE INSPECTION PERIOD, or any treatment

469will be at the BUYER’S expense.

482g. What If Buyer Does Not Conduct Inspections? If BUYER does not conduct inspections,

490i. What If Buyer Does Not Give Timely Notice Of Unacceptable Conditions? If BUYER conducts

497Contract. Any items marked Excluded (EX) on Seller’s Disclosure and Condition of Property

502k. What If Buyer's Inspections Reveal Unacceptable Conditions? If BUYER’S inspections reveal

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513l. BUYER’S notice of cancellation or offer to renegotiate terminates the Inspection Period and

514must be accompanied by the applicable written inspection report(s) in their entirety from the

515independent, qualified inspector(s) who conducted the inspection(s).

517m. Resolution of Unacceptable Conditions. BUYER and SELLER will have _____ calendar days

518(5 days if left blank) after SELLER’S receipt of BUYER’S Inspection Notice/Offer to

519Renegotiate (the "Renegotiation Period"), to reach an agreement resolving the Unacceptable

520Conditions.

533If no agreement resolving the Unacceptable Conditions is reached as provided above, prior

534to the expiration of the Renegotiation Period, then after expiration of the Renegotiation

535Period, either party may cancel this Contract by written notice to the other and the Earnest

536Money will be returned subject to the provisions of Earnest Money and Additional Deposits

537paragraph of this Contract.

539DEFAULTS AND REMEDIES

54114. DEFAULTS AND REMEDIES. SELLER or BUYER will be in default under this Contract if either fails to

542comply with any material covenant, agreement or obligation within any time limits required by this

543Contract. Following a default by either SELLER or BUYER under this Contract, the other party will

544have the following remedies, subject to the provisions of Earnest Money and Additional Deposits

545paragraph of this Contract.

547If SELLER defaults, BUYER may:

549a. Specifically enforce this Contract and recover damages suffered by BUYER as a result of the delay in

552b. Terminate this Contract by written notice to SELLER and, at BUYER’S option, pursue any remedy

553and damages available by law or in equity. If BUYER elects to terminate this Contract, the Earnest

554Money will be returned to BUYER subject to the provisions of Earnest Money and Additional Deposits

555paragraph of this Contract.

556

557If BUYER defaults, SELLER may:

559a. Specifically enforce this Contract and recover damages suffered by SELLER as a result of the delay

562b. Terminate this Contract by written notice to BUYER and, at SELLER’S option, either retain the

563Earnest Money as liquidated damages as SELLER’S sole remedy (the parties recognizing that it

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574ADDITIONAL DISCLOSURES INCLUDING THOSE MANDATED BY STATE OR FEDERAL LAW

57615. RADON, MICROBIALS AND OTHER ENVIRONMENTAL POLLUTANTS.

578a. Radon. Every BUYER of residential real property is notified the Property may present exposure to

579dangerous concentrations of indoor radon gas that may place occupants at risk of developing

594b. Microbials and Other Environmental Pollutants. BUYER acknowledges mold, fungi, bacteria and

61216. LEAD BASED PAINT DISCLOSURE. If the property was built prior to 1978, BUYER acknowledges

613receiving, reading and signing the Federally required disclosure regarding lead based paint.

614

61517. CRIMINAL OFFENDERS. In Missouri and Kansas, law requires persons who are convicted of certain

616crimes, including certain sexually violent crimes, to register with the Sheriff of the county in which they

617reside. If you, as the BUYER, desire information regarding those registrants, you may find information

618on the homepage of the Kansas Bureau of Investigation (KBI) at http://www.Kansas.gov/kbi or by

619contacting the local Sheriff’s office in Kansas. In Missouri, BUYER should contact the Sheriff of the

620county in which the Property is located.

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62118. BROKERAGE RELATIONSHIP DISCLOSURE.

623SELLER and BUYER acknowledge the Real Estate Brokerage Relationship Brochure has been

624furnished to them and the brokerage relationships were disclosed to them no later than the first

625showing, upon first contact, or immediately upon the occurrence of any change to that relationship.

627SELLER and BUYER acknowledge the real estate Licensee(s) involved in this transaction may be

628acting as Agents of the SELLER, Agents of the BUYER, Transaction Broker(s) or Disclosed Dual

629Agents (Available only in Missouri.).

631Licensee acting in the capacity of:

632

633a. Agent for the SELLER has a duty to represent the SELLER’S interest and will not be the Agent of

660SOURCE OF COMPENSATION. Brokerage fees, to include but not limited to broker commissions and

661other fees, will be paid out of escrow at Closing as follows, unless otherwise described in the terms of the

662respective agency agreements or other SELLER/BUYER agreements. SELLER and BUYER

663understand and agree Brokers may be compensated by more than one party in the transaction.

664(Check all applicable boxes)

668The signatures below only apply to the Brokerage Relationship Disclosure.

670_________________________________________ __________________________________________

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678TERMS AND CONDITIONS

68019. EARNEST MONEY AND ADDITIONAL DEPOSITS. Upon acceptance of this Contract, unless

681otherwise agreed, any Earnest Money or Additional Deposits will be deposited within 5 business days

682(if Kansas Property)/10 banking days (if Missouri Property) of the Effective Date, in an insured escrow

683account maintained by Listing Broker or Escrow Agent. BUYER and SELLER agree the Listing Broker

684or Escrow Agent may retain any interest earned on escrowed funds.

686If this Contract is terminated by the express provisions of this Contract or by either party pursuant to a

687right expressly given in this Contract, the Earnest Money and Additional Deposits will be returned to

688BUYER, and neither party will have any further rights or obligations under this Contract, except as

689otherwise stated in this Contract.

691Notwithstanding any other terms of this Contract providing for the forfeiture or refund of Earnest Money

692and Additional Deposits, the parties understand neither the Listing Broker nor the Escrow Agent can

693distribute the Earnest Money and Additional Deposits without the written consent of all parties to this

694Contract unless permitted to do so by applicable state laws.

696If BUYER and SELLER are unable to agree in writing upon the disposition of the Earnest Money and

697Additional Deposits or any other funds, Listing Broker or Escrow Agent may commence an inter-pleader

698or similar proceeding and BUYER and SELLER authorize Listing Broker or Escrow Agent to pay all

699funds to the Clerk of the Court for disposition as the Court may direct.

701BUYER and SELLER agree Listing Broker or Escrow Agent will be entitled to reimbursement of its

702costs incurred in connection with the inter-pleader or similar proceeding including without limitation,

703reasonable attorney fees and expenses.

705BUYER and SELLER agree, in the absence of a dispute or written consent to distribution, the failure by

706either to respond in writing to a certified letter from Listing Broker or Escrow Agent within 7 days (if

707Kansas Property)/15 days (if Missouri Property) of receipt thereof or failure to make written demand for

708return or forfeiture of the Earnest Money and Additional Deposits within 30 days (if Kansas Property)/60

709days (if Missouri Property) of notice of cancellation of this Contract will constitute consent to distribution

710of the Earnest Money and Additional Deposits as suggested in such certified letter.

711

712All parties acknowledge any Earnest Deposit funds that remain in the Broker’s escrow account for over

7131 year (if Missouri Property)/5 years (if Kansas Property) may be sent to the respective states as

714requested or required by law.

715

71620. TAXES, PRORATIONS AND SPECIAL ASSESSMENTS. All general/state/county/school and

717municipal real estate taxes, homeowner’s association dues and fees, special assessments, interest on

718existing Loans to be assumed by BUYER, and any other contractual obligations of SELLER to be

719assumed by BUYER for years prior to the current calendar year will be paid by SELLER.

726disclosure is required by Kansas law, and may be found in the Seller’s Disclosure and Condition of

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729the public record, the amount of the item for the preceding year will be used for the current year’s

731estimated by using the current year’s appraised value, if available from the county taxing authority,

732and last year’s mill levy. If appraised value is not available, the Contract Purchase Price will be used

74121. EVIDENCE OF TITLE. Within a reasonable time after the Effective Date, but prior to the Closing Date

742(the “Commitment Delivery Date”), SELLER agrees, at SELLER’s expense, to deliver to BUYER a title

743insurance commitment from a company(s) authorized to ensure titles in the state where the Property is

744located, showing the condition of title to the Property as of the date of issuance of the commitment.

745

746Unless there is a defect in title to the Property that is not corrected prior to the Closing Date, BUYER

747may not object to untimely delivery of the title commitment. The title commitment will commit to ensure

748a marketable fee Simple Title to the BUYER upon the recording of the deed or other document of

749conveyance. However, title to the Property will be subject to the conditions in this Contract and to

750customary covenants, declarations, restrictions, zoning laws, easements, party wall agreements,

751special assessments, and community Contracts of record as of the Effective Date of the title

752commitment (the “Permitted Exceptions”).

753

754BUYER will have a reasonable time after receipt of the title commitment (the “Objection Period”) to

755notify SELLER in writing of any valid objections to title to the Property. SELLER will then make a good

756faith effort to remedy the defects in title. If SELLER does not remedy the title defects before the Closing

757Date, BUYER may elect to waive the objections, extend the Closing Date a reasonable time for the

758SELLER to remedy the defects, or cancel this Contract.

759

760If the time between the Effective Date and the Closing Date is too short to permit compliance, both the

761Commitment Delivery Date and the Objection Period will be as soon as reasonably possible but no later

762than the Closing Date.

763

764SELLER agrees to provide and pay for an owner’s title insurance policy in the amount of the

765Purchase Price ensuring marketable fee simple title in BUYER, subject to the Permitted Exceptions

766and with the exception of any liens, encumbrances or other matters affecting title to the Property

767created by BUYER or arising by virtue of BUYER’s activities or ownership. The policy will also ensure

768BUYER as of the date of recording of the deed or other document of conveyance, against any lien, or

769right to a lien for services, labor or material imposed by law and not shown by the public records,

770SELLER agrees to comply with the requirements of the title company for issuance of this coverage.

771

772UNLESS OTHERWISE PROVIDED IN THIS CONTRACT, THE OWNER’S TITLE POLICY WILL

773INCLUDE MECHANIC’S LIEN COVERAGE.

774

775If Property (Missouri only) has not been occupied by SELLER and has had recent construction work

776performed, the SELLER may be required to post and record a “notice of intended sale”, as stated in

777Chapter 429 of the Missouri Revised Statutes, in order for BUYER to obtain Mechanic's Lien Coverage.

778All parties are advised to consult with the title company regarding these requirements.

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