OFFER LETTER

OFFER TO PURCHASE REAL ESTATE

TO: _______________________________ DATE:________________________

Seller

This property herein referred to is identified as follows:

Address:____________________________________ Town/City ________________________State____________________

Approximate Lot Size_______________ Book _______ Page ______ Registry of Deeds_____________________________

I hereby offer to buy said property, which has been offered to me by ____________________________________________
      (Listing Office)
______________________________________________________ as the broker(s) under the following terms and conditions:
          (Selling Office)
1.   I will therefore pay $ _______________________ , of which
(a) $ _______________________ is paid herewith as a deposit to bind this Offer.
(b) $ _______________________ is to be paid as an additional deposit upon the execution of the Purchase and Sale Agreement provided for below;
(c) $ _______________________
(d) $ _______________________ is to be paid at a time of delivery of the deed in cash, or by certified, cashier's treasurer's or bank check
(e) $ _______________________ Total Purchase Price
2. ACCEPTANCE:
This offer is good until ___________A.M./P.M. on ____________________, 20__ at or before which time a copy shall be signed by you, the Seller, signifying acceptance of this Offer and returned to the Buyer, otherwise this Offer shall be considered rejected and the deposit will be returned to the Buyer.
3. INSPECTION CLAUSE:
This Offer is subject to the Buyer using reasonable and diligent effort to obtain, at the Buyer's options and expense, a complete home and real property inspection, including but not limited to termite/pest, lead paint, radon, septic system, well and water inspections, on or before ________________, 20____, from a person normally engaged in the business of conduction such inspections. If the property contains serious structural, mechanical or other major defects, then, at the option of the Buyer, with written notification, this offer shall be null and void and all deposits returned to the Buyer.  Should the Buyer fail to notify the Seller or his agent, in writing, on or before ______________, 20____, then it shall be conclusively presumed that the Buyer is satisfied with the inspection and this contingency shall lapse and the Buyer shall be bound to perform his obligations under this Offer.  In the event the Buyer does not elect ot have such inspection or to so terminate on or before ___________, 20___, the Seller and the Broker(s) are hereby released from liability relating to defects in the premises which the Buyer or Buyer's consultant(s) could reasonably discover. If applicable, the mandatory lead paint disclosure form is attached hereto.
4. PURCHASE AND SALE AGREEMENT:
The parties will, on or before  _________A.M./P.M. on ____________________, 20__ , execute a standard Purchase and Sale Agreement prepared on the Northeast Association Of REALTOR©'s form, or any other form which contains substantially the same provision, which, when executed, shall be the agreement between the parties.
5. FINANCING:
The Buyer agrees to apply on or before ________________, 20___, for Conventional, FHA, MHFA, VA mortgage loan in an amount of $ _________________ from an institutional lender at current interest rates, points, and terms.  If the Buyer, having used all due diligence, fails to obtain a firm commitment for such a loan by _________________, 20___, all other obligations of the parties hereto shall cease and all deposits will be returned to the Buyer.  The Buyer shall be deemed to have waived his rights under this paragraph if the Seller and Agent have not been notified in writing by _____________, 20___, of the Buyer's inability to obtain said mortgage commitment.
6. CLOSING:
A good and sufficient Deed, conveying a good and clear record and marketable title shall be delivered at ________A.M./P.M. on ________________, 20___, at the appropriate Registry of Deeds, unless some other time and place are mutually agreed upon in writing.
7. ADDITIONAL TERMS AND CONDITIONS:_________________________________________________
___________________________________________________________________________________
___________________________________________________________________________________
8. DISCLOSURE REQUIREMENTS:
(a) _____ Acknowledgement of Agency Disclosure.
(b) _____ Acknowledgement of Lead Paint Disclosure (if applicable).
9. This is of the essence of this agreement.