Broker Information Sheet

The seller requires the following items:

Caution: Please be extremely detailed when filling out any and all paperwork. The bank will not allow any changes to its paperwork and will not sign or contract with the buyer unless all forms are completed correctly.

Bank Addendum/Counter

Each page requires initials at the bottom of each page. Please insure that you have initialed and that the signature page at the end of the addendum has been signed and dated. Be careful to have the buyer initial everywhere required!

As- Is Addendum

Only the top of the first page is to be initialed. Inspections are solely for informational purposes only. Buyer has a right to an inspection and able to rescind their offer if the condition of the property is not suitable for the buyer. However, by the signing this addendum the buyer is fully aware that they are purchasing the property “As-Is”. Buyer is only required to sign this addendum at closing- which will be notarized by the closing/escrow agent as witness. The definition of “As-Is” is that the buyer is purchasing the property in its current condition. Because FHA has certain guidelines for property condition it would be advantageous for the buyer to discuss FHA re-hab loans with their preferred mortgage consultant if they are seeking this type of financing.

Proof of Funds

   1). If the property is being financed: A lender pre-approval letter must accompany the offer-

    2). If the property is being purchased with cash: Proof of funds is required-

Agent/Broker Purchases as Buyer

If you as the agent are preparing to purchase the property for yourself, please call Sarah Solomon direct for more details.

Title

The property will be conveyed via Special Warranty Deed. If buyer wishes to purchase additional coverage other than the standard policy this will be the buyer responsibility.

Contract & Earnest Money

You will need to bring all documents with buyer’s original initials/signatures along with the earnest money to my office before I can fax to the bank for it’s approval (this includes the original contract, disclosures {if applicable} any addenda as well as the bank’s addenda). Please allow at least 24-48 hours for seller to sign and send back.

If the property is winterized and the buyer wishes to have the water turned on for inspection, a cashier’s check (to cover the cost of dewinterizing and rewinterizing) for $225 payable to Sarah Solomon must accompany buyer signed contract documents. This cost in non-refundable. For natural gas turn on please schedule with me direct 3 days prior inspection time.

Please remember, in transactions where the buyer is obtaining financing, the title company must have figures and any documents requiring seller signatures at least 48 business hours before closing. Otherwise, your buyer may have to wait for possession to the property- as the seller needs time to sign off on the HUD1. We cannot close the last three days of the month.

The future belongs to those who believe in the beauty of their dreams
- Eleanor Roosevelt