Depuzzle the form forms 092314 by Karen Schlosser

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Back-Up Contract Addendum A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel, except for underlined items, for exclusive use by REALTORS®. This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

The

undersigned

Buyer

and

Seller,

having

executed

purchase

contract

dated

___________________________________, __________, (the “Contract") covering the real property known as _______________________________________________________________________________________________, further agree as follows: The Contract is accepted only as a Back-Up Contract. As used herein, the term “Back-Up Contract” shall mean a binding contract between Buyer and Seller that is contingent upon Seller failing to sell the Property to a third party pursuant to a separate contract previously entered into by and between Seller and a third party (the “Initial Contract”). Buyer expressly acknowledges that Seller has previously executed the Initial Contract with a third party, and that Buyer’s right to purchase the Property and Seller’s obligation to sell the Property pursuant to the Contract vests only upon Seller failing to sell the Property to the original buyer pursuant to the terms and conditions of the Initial Contract, or any previously executed Back-Up Contracts. This is Back-Up Contract # ______ concerning the sale of the Property. Any change in Back-Up Contract position(s) shall be promptly communicated to all parties. Seller shall promptly notify Buyer, in writing, by signing the Initial Contract Termination Notice below, upon the termination of the Initial Contract, or any previously executed Back-Up Contract which became an Initial Contract. The Contract shall be deemed a primary contract upon Seller’s delivery of the Initial Contract Termination Notice. Commencement of time periods for performance of the Contract, including the deposit of Earnest Money, shall begin the day after the date Seller delivers the Initial Contract Termination Notice. Notwithstanding anything to the contrary contained herein, Buyer shall have the right to terminate the Contract, in writing, at any time prior to receiving the Initial Contract Termination Notice. This Back-Up Contract Addendum, upon execution by the parties, becomes an integral part of the Contract. Except as amended or modified by this addendum, the Contract, in all other respects, remains the same. __________________________________________ Date / Time

__________________________________________ Date / Time

__________________________________________ Buyer

__________________________________________ Seller

__________________________________________ Buyer

__________________________________________ Seller

This section to be used to notify Buyer that the Back-Up Contract has become the Primary Contract Initial Contract Termination Notice: Seller hereby notifies Buyer that the Initial Contract has been terminated. The Contract is now the primary contract and commencement of time periods for performance of the Contract, including the deposit of Earnest Money, shall commence as stated above. __________________________________________ Date / Time

__________________________________________ Date / Time

__________________________________________ Seller

Condominium and Homeowner Association Checklist A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved for exclusive use by REALTORS®

This checklist is to be used to assist sellers of real estate subject to homeowner association regulations in preparing for requests from buyers or potential buyers for information related to those regulations. This document does not constitute an agreement between parties to a real estate contract, nor is it to be construed as a warranty of any of the information provided in conjunction with this checklist. Real Estate known as ___________________________________________________________ (address) Unit Number _____________ ("Real Estate"), County of ___________________________________________, State of _______________________, Zip code _________________ Seller to make a good faith effort to provide the most current available information checked below (“Information”). Any expenses incurred in the procurement of the Information shall be the sole responsibility of the Seller. • Seller to note any unavailable item requested on the Condominium and Homeowner Association Checklist as not available (N/A) and initial beside it.

 Name of Unit Owners Association _________________________________________________________________________________________ 

 Condominium Board Contact (officer-name-phone) ___________________________________________________________________________  Management Company Contact (company-name-phone) ______________________________________________________________________  Declaration & Bylaws which submit the property to the provisions of the Ohio Condominium Statute (Chapter 5311 of the Ohio Revised Code).  Condominium Drawings showing this unit, buildings, easements and limited common areas specific to this unit.  Amendments to the Declaration, specifically those affecting this unit or affecting changes in the common or limited common areas.  Articles of Incorporation of the Unit Owners’ Association (assuming that the association has been incorporated).  Rules and Regulations of the Unit Owners’ Association, addressing such issues as number and designation of officers, meetings, quorums, voting rights, etc.

 Financial Statements showing the nature of the association’s assets. 1. 2. 3. 4. 5. 6.

Most current balance sheet Most current income and expense statement Current budget A statement of the amount of any assessment against this unit Most recent bank statement of Reserve Account with certification from the management company that unencumbered reserves are adequate to repair and replace major capital items in the normal course of operations without the necessity of special assessments Five year history of dues increases and assessments

 Occupancy Rate: A statement from the association showing the percentage of Owner Occupied units vs. Rental units.  Law Suits, Legal Actions or Judgments: A statement from the association indicating the nature and status of any pending law suits, legal actions or judgments in which the unit owners’ association is a party.

 Rights of Refusal: A statement from the association of any rights of first refusal given to a person or the association to preemptively purchase the unit. If existing, these rights must be released or waived not later than 10 (ten) days after the Buyer’s receipt of this document.

 Insurance: A certificate of insurance from the association insurance provider.  Minutes: A copy of the minutes of the three most recent board meetings and the minutes of the most recent annual meeting.  Payment of Dues and Other Financial Obligations: A statement from the association confirming when the next (assessment) payment is due, the amount of such payment and that dues are current. Include Association Initiation fee, Reserve Contribution, Association Transfer Fee and statement of amount of any unpaid fees, penalties, arrearages, etc., if applicable.

 Community Development Charge: Documentation of community development charge, if any, applicable to the premises which was created by a covenant in a recorded instrument. Include the following information: recorded at (county) ___________________________________, Vol.________________, Page number___________, or Instrument number_____________. (Note: If the foregoing information is not provided and a community development charge affects the premises, the contract may not be enforceable by the Seller or binding upon the Buyer pursuant to Section 349.07 of the Ohio Revised Code.)

 Other Documentation: ________________________________________________________________________________________________ Seller represents that the Information provided is done so in good faith based on his/her actual knowledge as of the date signed by Seller. _______________________________ DATE/TIME ______________ (Seller’s Signature)

_______________________________ DATE/TIME ______________ (Seller’s Signature)

Buyer Receipt and Acknowledgement: Buyer’s signature below does not constitute approval of any provided information. _______________________________ DATE/TIME ______________ (Buyer’s Signature)

_______________________________ DATE/TIME ______________ (Buyer’s Signature)

Copyright© January 2012 CINCINNATI AREA BOARD OF REALTORS®, Inc. ______________________________________________________________________________________________________________________________________________________

Contingent Sales Addendum With Prior Notice [MLS Regulations Require Listing to be Changed to “Pending” Status]

A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel, except for underlined items, for exclusive use by REALTORS®.

This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

This Addendum is hereby made part of the Contract to Purchase (“Contract”) dated _______________________ on the Real Estate located at ___________________________________________ by and between ___________________________________ (“Buyer”) and ____________________________________ (“Seller”). 1. Buyer’s obligation to close this transaction shall be contingent upon Buyer successfully completing and closing the sale of his/her property located at ____________________________________ (“Buyer’s Real Estate”) on or before ____________________ (“Contingency Period”). This contingency is solely for the benefit of Buyer and may be waived by Buyer at any time prior to the end of the Contingency Period. 2. During the Contingency Period, Seller shall have the right to continue to market the Real Estate for sale through a broker. On or before the last day of the Contingency Period, Buyer shall notify Seller, in writing (“Buyer’s Notice”), at such time Buyer and a third party have entered into a contract to purchase the Buyer’s Real Estate (“Buyer’s Contract”), the sale of which shall close within __________ days of the date of Buyer’s Notice. The transaction contemplated by the Contract shall close within ___________ days of the date of Buyer’s Notice. 3. If Seller receives an acceptable offer from another buyer prior to Seller’s receipt of Buyer’s Notice, Seller or Seller’s agent shall notify Buyer, in writing, of the receipt of the acceptable offer, and Buyer shall be given ________ hours to waive this contingency without regard to the successful sale and closing of Buyer’s Real Estate. If Buyer fails to waive this contingency within the stated time period, then the Contract shall become null and void and all parties to the transaction shall be released from all obligations related to the Contract and any earnest money shall be returned to the Buyer in accordance with state law. 4. All notices required herein shall be in writing and delivered to the party or his or her agent with evidence of receipt. 5. All times and/or dates specified in this Addendum shall be of the essence. By signing this Addendum, Buyer and Seller acknowledge that all performance dates and contingencies in the Contract commence upon the effective date of the Contract. 6. By signing this Addendum, Buyer and Seller acknowledge that the status of the listing in MLS will be changed to “Pending” in accordance with MLS Regulations [Article 16, Section16.1 (e) and (f)].

Date: __________________

_______________________________ Buyer _______________________________ Buyer

Date: _________________

_______________________________ Seller _______________________________ Seller

Contingent Sales Addendum Without Notice [MLS Regulations Allow Listing to Remain in “Active” Status]

A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel, except for underlined items, for exclusive use by REALTORS®.

This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

This Addendum is hereby made part of the Contract to Purchase (“Contract”) dated ___________________ on the Real Estate located at ____________________________________ by and between ___________________________________ (“Buyer”) and ____________________________________ (“Seller”). 1. Buyer’s obligation to close this transaction shall be contingent upon Buyer successfully completing and closing the sale of his/her property located at ____________________________________ (“Buyer’s Real Estate”) on or before ____________________ (“Contingency Period”). This contingency is solely for the benefit of Buyer and may be waived by Buyer at any time prior to the end of the Contingency Period. 2. During the Contingency Period, Seller shall have the right to continue to market the Real Estate for sale through a broker. On or before the last day of the Contingency Period, Buyer shall notify Seller, in writing (“Buyer’s Notice”), at such time Buyer and a third party have entered into a contract to purchase the Buyer’s Real Estate (“Buyer’s Contract”), the sale of which shall close within __________ days of the date of Buyer’s Notice. The transaction contemplated by the Contract shall close within ___________ days of the date of Buyer’s Notice. Upon receipt of Buyer’s Notice, the status of the listing in MLS will be changed to “Pending” in accordance with MLS Regulations. 3. If prior to Seller’s receipt of Buyer’s Notice, Seller receives another acceptable offer, then the Seller shall have the right to accept the other offer without providing any notice to Buyer. If that offer is accepted and does not contain a contingent sales addendum/clause, this acceptance shall operate to automatically terminate the Contract in its entirety. In such event, notice of the termination shall be given to the Buyer and all parties shall be released from any rights and/or obligations related to the Contract and any earnest money shall be returned to the Buyer. If the accepted offer does contain a contingent sales addendum/clause, all parties shall continue to be obligated under the terms of the Contract. Upon receiving written notification from any other contingent buyer that their contingent sales contingency is removed, Seller shall notify Buyer, in writing, of termination of the Contract and all parties shall be released from any rights and/or obligations related to the Contract and any earnest money shall be returned to the Buyer in accordance with state law. 4. All notices required herein shall be in writing and delivered to the party or his or her agent with evidence of receipt. 5.

All times and/or dates specified in this Addendum shall be of the essence.

6. By signing this Addendum, Buyer and Seller acknowledge that the status of the listing in MLS may remain “Active” in accordance with MLS Regulations [Article 16, Section16.1(e) and (f), until such time that Buyer’s Notice as described in Section 2 of this Addendum is received by Seller or Seller’s broker]. Date: __________________

_________________________________ Buyer _________________________________ Buyer

Date: _________________

_________________________________ Seller _________________________________ Seller

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Notice From Buyer’s Broker to Seller of a Limited Service Listing A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel, except for underlined items, for exclusive use by REALTORS®.

This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

To:

_______________________________________________________________ Seller(s)

From: _______________________________________________________________ (Agent/Broker) Re:

_______________________________________________________________ (Property)

Date: _______________________________________________________________ A. Your real estate broker has asked that I deliver the enclosed offer to you. ___________________ (Brokerage) has been notified via the listing agent and/or the MLS that the listing agent of your property has requested that offers be delivered directly to you as opposed to being delivered to your agent at his/her office as is more the norm for our area. In our attempt to comply with this request, we are delivering the attached paperwork directly to you for your analysis. B. My client is the prospective buyer(s). As the buyer’s agent in this transaction, we have a fiduciary relationship with the buyer and do not represent you (the seller), as noted on the attached State of Ohio Disclosure of Agency Relationship form. It is therefore inappropriate for our ___________________ (Brokerage) agent to discuss strategy or advise you in any way on your options as a seller. C. I am obligated to inform my client of any material information you provide to me. D. I am prohibited from and will not provide you with: a. opinions or advice; b. assistance in evaluating any offer; c. assistance in drafting any offer, response to any offer, disclosure, notice or other information; d. relevant market information; e. information related to any contractual duty you may have; f. assistance in arranging for the completion of any obligations you may be required to meet under a contract; or g. information related to other service providers, such as title companies, mortgage companies, insurance companies, attorneys, inspectors, contractors, surveyors, engineers, and others. E. Should you need assistance in evaluating the offer, we urge you to contact your listing agent or personal legal counsel. The Ohio Division of Real Estate and Professional Licensing Rules provide that a real estate broker is obligated under a listing agreement to fulfill all fiduciary responsibilities to the principal (seller). More information is available on the Division website at www.com.state.oh.us/real. Thank you for your understanding of the situation. We hope that we will be able to bring this transaction to a satisfactory conclusion to the benefit of all parties.

Received by: ________________________________________ Date/time: _______________________

Notice of Rescission A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved for exclusive use by REALTORS®

This form is to be used to rescind an offer/proposal or counter offer/proposal that has not been accepted. It is recommended that the rescission of any offer/proposal or counter offer/proposal be done in writing. In the event initial notification is done verbally, it is recommended that said rescission be confirmed by written notification. Please complete boxed section below if the initial notification was communicated prior to this document. Please identify, by name, the person to whom the notice of rescission was communicated.

Real Estate known as ________________________________________________ (address) Unit Number ___________ ("Real Estate"), County of ___________________________________________, State of _______________________, Zip code _________________ .

Seller (print name): _____________________________________________________________________________________ Seller (print name): _____________________________________________________________________________________ Buyer (print name): _____________________________________________________________________________________ Buyer (print name): _____________________________________________________________________________________

______________________________________________________________________________ hereby rescinds the offer/counter (Rescinding Buyer or Seller) offer/proposal made to

dated

for the above-stated real estate.

(Buyer or Seller)

 Notice of rescission was previously communicated to ________________________________________ (name of individual),

who is the  buyer

 buyer’s agent

 seller

 seller’s agent, in the following manner:  writing  verbally

 electronically (fax or electronic mail). Such notice was delivered on __________________________________ (date) at

______________________  (a.m.)  (p.m.)  (Noon) Cincinnati time.

The terms of the above described offer/counter offer/proposal are null and void and are no longer open for acceptance. Delivery of this Notice of Rescission to agent of either party is effective as delivery to such party.

_____________________________________________ DATE/TIME ____________________________ (Signature of Rescinding Party) _____________________________________________ DATE/TIME ____________________________ (Signature of Rescinding Party)

Notice of Termination of the Contract to Purchase A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

Re: ___________________________________________________________________ (Property Address) To: ___________________________________________________________________ (Seller/Buyer) From: _________________________________________________________________ (Buyer/Seller) Accepted Contract Date: ___________________________________________________ The  Buyer  Seller is terminating the Contract to Purchase for the following reason and hereby releases the other party from any and all obligations, rights and privileges arising out of the Contract to Purchase:  FINANCING CONTINGENCY (Seller termination)  APPRAISAL CONTINGENCY (Buyer termination)  HOMEOWNER ASSOCIATION/CONDOMINIUM/LANDOMINIUM DECLARATIONS, BYLAWS AND ARTICLES (Buyer termination)   REAL ESTATE INSPECTION (Buyer termination)  MAINTENANCE (Buyer termination)  Other: ________________________________________________________________________ _________________________________________________________________________________.

Signed:

____________________________________________________________________________

Printed Name (Buyer/Seller):

__________________________________________________________

Date / Time: __________________________________________________________________________

Signed:

____________________________________________________________________________

Printed Name (Buyer/Seller):

__________________________________________________________

Date / Time: __________________________________________________________________________

Post-Closing Occupancy Agreement A product of the CINCINNATI AREA BOARD OF REALTORS® Approved by Board Legal Counsel, except for underlined items, for exclusive use by REALTORS® This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult your REALTOR®.

The undersigned Buyer and Seller, having executed a Contract to Purchase ("Contract") dated _____________________ _________________________________, ___________, covering the following described real estate ("Real Estate"), located in ___________________________ (City), _________________________ (County), ________________ (State,) known as: __________________________________________________________________________________ further agree that the undersigned Seller ("Tenant") offers to lease from the Buyer ("Landlord") said Real Estate upon closing.

LEASING TERMS: (a) The lease term shall be for ____________ (days, months) beginning ________________________, ________ (Date) and ending __________________________, ________ (Date). (b) RENT: Rent, payable in advance (weekly, monthly, total), shall be: ______________________________________. (c) SECURITY DEPOSIT: Security Deposit, to be paid at closing and held by Landlord, shall be: __________________ _____________________________________ and shall be returned to Tenant pursuant to state Tenant-Landlord law. (d) MAINTENANCE BY TENANT: The Tenant at his expense shall be responsible for the maintenance and repair of the Real Estate as set forth in the Contract to Purchase. (e) REAL ESTATE TAXES: Taxes for the Real Estate shall be paid for by Landlord. (f) INSURANCE: Insurance for the Real Estate shall be paid for by the Landlord. Insurance for the tenants’ property contained in the Real Estate shall be paid for by the tenants. (Both parties shall contact their respective insurance providers regarding coverage and provide the other with evidence of coverage.) (g) UTILITIES: Utilities are to be paid for by the tenant and shall be discontinued as of _____________________ (date). (h) POSSESSION OF PROPERTY: Tenant shall vacate the property by the end of the lease term and shall remove all debris and personal possessions not included with the Contract to Purchase. (i) KEY EXCHANGE: Tenant shall deliver keys to the property to the Landlord on ________________________ (date). (j) LANDLORD'S ADDITIONAL OBLIGATIONS: Landlord shall: ____________________________________________________________________________________________. (k) TENANT'S ADDITIONAL OBLIGATIONS: Tenant shall: ____________________________________________________________________________________________. (l) Other terms:__________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________.

ACCEPTANCE: This addendum, upon execution by the parties, becomes an integral part of the Contract to Purchase. Except as amended or modified by this addendum, the Contract, in all other respects, remains the same. This addendum shall survive the closing until the expiration of the lease term defined herein. Date/Time: ________________________________

Date/Time: ________________________________

__________________________________________ Buyer (Landlord)

__________________________________________ Seller (Tenant)

__________________________________________ Buyer (Landlord)

__________________________________________ Seller (Tenant)

Witness: ___________________________________

Copyright© August, 1999 CINCINNATI AREA BOARD OF REALTORS®, INC. ____________________________________________________________________________________________________________________________________________________

RELEASE FROM CONTRACT TO PURCHASE for use only by Members of the

CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel (If not understood, seek legal advice. For real estate advice, consult your REALTOR®.)

This agreement executed at ______________________________________, ____________________ by and between CITY STATE ____________________________________ (“Seller”) and ____________________________________ (“Buyer”) constitutes a release from the Contract to Purchase dated ________________________________, __________ for the Real Estate located at _____________________________________________________________________________ _______________________________________________________________________________________________. Whereas, certain conditions and contingencies specified in the Contract have not been satisfied or waived and may not be satisfied or waived; and Whereas, it is the desire and intent of the parties to release each other and the Real Estate Broker(s) from any and all obligations, rights and privileges arising out of the Contract. 1. Each party does hereby release each other party, _____________________________(listing REALTOR® firm) and _____________________________ (cooperating REALTOR® firm), their agents and employees, from any and all claims and demands whatsoever of any nature, kind or description, arising out of or connected with, directly and indirectly, the Contract and the same is hereby agreed to be null, void and of no effect. 2. The earnest money deposit of _____________________________________ Dollars ($__________________) shall be distributed as follows: To the Seller $________________________

To the Listing Broker $________________________

To the Buyer $________________________

To the Co-op Broker $________________________

The parties have executed this release the day and year below stated: ____________________

_______________________________________

Date

Seller _______________________________________ Seller

____________________

_______________________________________

Date

Buyer _______________________________________ Buyer

____________________

_______________________________________

Date

Listing Broker/Manager; Firm

____________________

_______________________________________

Date

Co-op Broker/Manager; Firm

Release from Contract to Purchase (Without Earnest Money Disbursal) A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel for exclusive use by REALTORS® This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

This Release is entered into this _______________ day of ___________________________, 20___, by and between _____________________________________, (Seller”) and _____________________________________, “Buyer”). Whereas Buyer and Seller did enter into a Purchase Contract dated ____________________________, 20__________, for the property located at _____________________________________________________________, (“Real Estate”). Now therefore, and in consideration of the mutual covenants set forth herein, the Buyer and Seller hereby agree as follows: 1. Buyer and Seller hereby release each other from the provisions of the Purchase Contract and agree to terminate the Contract to Purchase except that Buyer and Seller reserve any and all rights and claims they may have in and to Earnest Money deposited pursuant to the terms of the Contract to Purchase. 2. The Buyer releases any and all interest in and to the Real Estate, except as stated in paragraph 1 above. Seller shall have the right to sell the Real Estate to any other party free of any interest or claim of the Buyer. 3. The Buyer and Seller hereby fully release the real estate Brokers identified below, their agents and employees from any and all liability, claims or damages resulting from, arising out of, or related to the Contract to Purchase. ____________________

_______________________________________

Date/Time

Seller _______________________________________ Seller

____________________

_______________________________________

Date/Time

Buyer _______________________________________ Buyer

____________________

_______________________________________

Date/Time

Listing Broker/Manager; Firm

____________________

_______________________________________

Date/Time

Co-op Broker/Manager; Firm

This matter affects your legal rights. If you have any questions regarding this matter, you should contact an attorney in order to protect your interests.

Copyright© January 2009 CINCINNATI AREA BOARD OF REALTORS®, INC. _____________________________________________________________________________________________________________________________________________

Seller Authorization for Release Of Information by Lien Holder A product of the CINCINNATI AREA BOARD OF REALTORS®, INC.

Approved by Board Legal Counsel for exclusive use by REALTORS® This is a legally binding document. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

Seller: _______________________________________________________________________________ Real Estate Address: ___________________________________________________________________ Lien Holder: __________________________________________ Loan No.: ______________________ Lien Holder: __________________________________________ Loan No.: ______________________ Lien Holder: __________________________________________ Loan No.: ______________________ Lien Holder: __________________________________________ Loan No.: ______________________ Lien Holder: __________________________________________ Loan No.: ______________________ Seller Consents to Lien Holder’s Release of Information. Seller consents to the release of certain information by the listed Lien Holder(s), its/their representatives and agrees that it/they may supply information and communicate any loan, financial or other information of Seller, confidential or otherwise, with any of the following involved in the transaction and their representatives (named below): Seller’s attorney, Broker or Brokerage Firm representing the Seller, transaction coordinator, title insurance company, closing company and other lien creditors. _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ _____________________________________________________________________________________ Seller: ________________________________________________ Date: _________________________ Seller: ________________________________________________ Date: _________________________ Note: This Seller Authorization should be submitted to the Lender’s Loss Mitigation Department. If the Real Estate is in foreclosure, this form should also be submitted to the Lender’s law firm.

2750556.2

Short Sale Contingency Addendum A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel for exclusive use by REALTORS® This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®. THIS ADDENDUM IS ONLY TO BE USED IN CONNECTION WITH A SHORT SALE REQUIRING THIRD-PARTY APPROVAL The undersigned Buyer and Seller, having executed a purchase contract (“Contract”) dated ____________________________, __________ for the following described real estate having an address of _________________________________________________________________________ ("Real Estate"), County of ____________________________________________________, State of ________________________________, Zip code ________________________, further agree to the terms of this Addendum, which are hereby incorporated as part of the Contract, and to the extent the terms of this Addendum modify or conflict with any provisions of the Contract, including all prior addenda and counteroffers, the terms of this Addendum supersede the terms of the Contract. 1. ACKNOWLEDGMENT OF SHORT SALE: By signing this Short Sale Addendum, Seller and Buyer acknowledge that the Contract represents a “Short Sale”, meaning that the purchase price set forth in the Contract is less than the amount(s) owed to third parties having an interest in the Real Estate (“Third Parties”) and is insufficient to discharge all debts and obligations secured by liens on the Real Estate. Therefore, Seller’s and Buyer’s performance under the Contract is dependent upon the review and approval of the Contract by the Third Parties. 2. THIRD PARTY REVIEW AND APPROVAL: Seller shall have four (4) days from the date of this Addendum (meaning the last date written below) to submit the Contract to Third Parties, together with any additional documentation required by the Third Parties, for review and approval. Buyer and Seller acknowledge that approval of the Contract by Third Parties (“Third Party Approval”) may take an extended period of time, and that Third Parties may, in their sole discretion, request modifications to the terms of the Contract, or reject the Contract. If one or more of the Third Parties requests modifications to the Contract (“Third Party Conditions”), Seller may, in its sole and absolute discretion, and no later than four (4) days after Seller’s receipt of the Third Party Conditions, (a) provide Buyer with an addendum to the Contract setting forth the Third Party Conditions (“Third Party Addendum”) or (b) terminate the Contract and return the Earnest Money to Buyer. Within four (4) days of Buyer’s receipt of the Third Party Addendum, Buyer may either (i) accept the terms and conditions thereof by executing the Third Party Addendum or (ii) terminate the Contract and receive a refund of any Earnest Money. In no event shall any Third Party Conditions be binding upon Buyer or Seller without their mutual written consent, which consent may be withheld in their respective sole discretion. If by the _______ day of ____________________, 20___, (“Approval Deadline”), (aa) Seller has not received Third Party Approval from all Third Parties, or (bb) Third Parties have not requested to impose Third Party Conditions, either party may (1) terminate the Contract and any Earnest Money shall be returned to Buyer, or (2) extend the Approval Deadline by mutual written agreement. Seller shall be solely responsible for all costs and expenses associated with obtaining Third Party Approval. In the event that Buyer or Seller fails to act within the time periods set forth in this Section 2, the other party may terminate the Contract. 3. EARNEST MONEY: Buyer shall deposit Earnest Money in accordance with the Contract terms. Seller and Buyer agree to execute a release from contract with return of Earnest Money to the Buyer in the event the contract is terminated for any of the reasons under Section 2 above. 4. IF FORECLOSURE ACTION HAS BEEN FILED: Buyer acknowledges that a foreclosure action may have been filed against the Seller prior to or during the pendency of the Contract and the sale of the Real Estate may be subject to court approval and/or redemption by the Seller. Therefore, action may be required by Seller to obtain court approval of the Short Sale or to redeem the Real Estate and complete the Short Sale. If Seller is unable to obtain such approval or to redeem the Real Estate, then Seller may terminate the Contract upon written notice to Buyer and neither party shall have any further obligations hereunder. Buyer may at its sole option, but is not obligated to, contribute to the payment of any sums required to be paid by Seller in order to obtain court approval of the Short Sale or to redeem the Real Estate. 5. CONTRACT DEADLINES: Commencement of time periods for performance on the Contract shall be defined as the day the Third Party Approval agreement notice is delivered to Buyer and all time periods provided for in the Contract, including the Inspection Period, shall commence on the day following delivery of such notice. Date deadlines provided for in the Contract may be modified in the event Buyer, Seller and the Third Parties reach a written agreement; provided, however, that any such modification shall be in accordance with any Third Party Conditions and shall be mutually agreed upon by the parties. 6. ADDITIONAL TERMS: __________________________________________________________________________________________ __________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________ __________________________________________________________________________________________________________________ _________________________________________________________________________________________________________________ 7. ALL OTHER TERMS OF THE CONTRACT, including all prior addenda and counteroffers, not modified by this Addendum shall remain unmodified and shall remain in full force and effect until otherwise modified in writing by Buyer and Seller. 8. LEGAL AND TAX ADVICE: Seller and Buyer are advised to obtain legal advice regarding the advisability and terms of any Short Sale, the Contract, any addendum thereto, dealings with creditor(s), foreclosure, and any other legal matters related to this transaction, and are advised to seek professional tax advice regarding the tax implications of any such Short Sale. SELLER ______________________________ DATE _________________

SELLER ______________________________ DATE _________________

BUYER ______________________________ DATE _________________

Short Sale Listing Addendum A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel for exclusive use by REALTORS® This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult a REALTOR®. THIS ADDENDUM IS ONLY TO BE USED IN CONNECTION WITH A SHORT SALE REQUIRING THIRD-PARTY APPROVAL The undersigned Seller, having executed an Exclusive Right to Sell contract (“Contract”) dated ___________________________________ 20_______ for the following described real estate having an address of ________________________________________________________________________ ("Real Estate"), County of ______________________________________________, State of ________________________________, Zip code ________________________, further agree to the terms of this Addendum, which are hereby incorporated as part of the Contract, and to the extent the terms of this Addendum modify or conflict with any provisions of the Contract, the terms of this Addendum supersede the terms of the Contract. 1. SHORT SALE LISTING: REALTOR® has advised Seller that the amount of money necessary to pay in full all loans and other debt or obligations that are secured by a lien(s) on the Real Estate (loans/liens), as well as REALTOR® commissions and other costs of sale, may exceed the current market value of the Real Estate. Accordingly, in order to sell the Real Estate, Seller may be required to: (1) deposit his/her own funds into escrow, (2) obtain the agreement of secured lender(s) or creditor(s) (collectively referred to as “Third Party(ies)”) to accept, as payment in full, less money than they are owed (“Short Sale”), and/or (3) pay back some or all of the shortage after the sale is complete, as a personal obligation. Any sale of the Real Estate will be contingent upon Third Party approval. 2. TAX CONSEQUENCES: REALTOR® has advised Seller that if Third Parties agree to accept less than full payment of amount owed, the difference may result in taxable income to Seller, even though Seller does not receive any cash proceeds from the sale. Seller may also be taxed on the gain in value of the Real Estate from the date of Seller’s purchase to the date of sale, regardless of the amount of any existing loans/liens. 3. CREDIT CONSEQUENCES: A Short Sale may have a negative impact of Seller’s credit rating, even if a foreclosure process has not officially begun or once begun is not completed. 4. THIRD PARTY CONSIDERATION: Seller acknowledges that a Short Sale is subject to Third Party approval. Third Parties are not obligated to accept a Short Sale. Third Parties may impose conditions prior to consideration or approval of a Short Sale, such as obtaining a new appraisal, or requiring Seller to demonstrate hardship or provide copies of tax returns, pay stubs, assets, or other financial information. Third Parties may inform the IRS or credit reporting companies of the payment shortage. REALTOR® has no control over Third Party’s decisions. Accordingly, Seller agrees to hold REALTOR® harmless for acts or omissions of Third Parties. 5. FORECLOSURE PROCEEDINGS CONTINUE: The parties acknowledge and agree that REALTOR® has no control over foreclosure proceedings as short sale marketing and negotiation are unrelated to the lender's foreclosure process, and that this Addendum does not have any legal effect on any foreclosure proceedings involving the Real Estate. 6. SELLER COOPERATION: Seller agrees to cooperate in negotiations with the Third Parties promptly upon request by REALTOR® and/or any closing attorney or closing agent involved in handling settlement and closing on any sale of the Real Estate. Seller’s cooperation shall include, but shall not be limited to, providing: (1) explanation, in writing, of financial circumstances, (2) true copies of bank records and other financial data and assets, as may be requested by the Third Parties, (3) access to the Real Estate for appraisals and/or inspections and (4) such other assistance as may be deemed necessary by the closing attorney or closing agent involved in handling settlement and closing on any sale of the Real Estate. 7. REALTOR AUTHORITY: Seller authorizes REALTOR® to: (a) market the Real Estate for sale, (b) contact Third Parties concerning Third Party’s approval of a Short Sale and Seller agrees to give REALTOR® any necessary information to negotiate with Third Parties, and (c) advertise in the MLS and other advertising medium that the Real Estate transfer, sales price, and payment of commissions are subject to Third Party approval. If Third Party will not cooperate, REALTOR® may cancel the Exclusive Right to Sell contract. 8. OTHER OPTIONS: REALTOR® has advised Seller that other options, such as, but not limited to, negotiating a modification of existing loans/liens, refinancing, bankruptcy, foreclosure, or deed in lieu of foreclosure may be more appropriate for Seller. Seller is advised to explore such options with Third Parties, to determine appropriateness for Seller. Seller agrees to notify REALTOR® if Seller decides to pursue other options. 9. LEGAL AND TAX ADVICE: REALTOR® has advised Seller to consult with legal and tax counsel, prior to signing this Contract, regarding the decision to seek a Short Sale. REALTOR® cannot give legal or tax advice. SELLER _____________________________________ (Print Seller’s Name)

SELLER _____________________________________ DATE/TIME _________________ (Seller’s Signature)

SELLER _____________________________________ (Print Seller’s Name)

SELLER _____________________________________ DATE/TIME _________________ (Seller’s Signature)

For: ______________________________________________________ (Print Listing REALTOR® Firm)

By: __________________________________________________ (Print Listing Agent)

___________________________ (Listing Agent’s Office Phone)

__________________________ (Listing Agent’s Other Phone)

______________________________________________________ (Listing Agent’s Signature / Date / Time)

___________________________________________________________ (Listing Agent’s Other Contact Information)

______________________________________________________ (Print Broker/Office Manager's Name)

Short Sale Proposal Addendum A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel for exclusive use by REALTORS® If not understood, seek legal advice. For real estate advice, consult a REALTOR®. THIS ADDENDUM IS ONLY TO BE USED IN CONNECTION WITH A SHORT SALE REQUIRING THIRD-PARTY APPROVAL The undersigned Buyer and Seller, having executed a purchase contract (“Contract”) dated ____________________________, ______________ for the following described real estate known as _________________________________________________________________________ ("Real Estate"), County of ____________________________________________________, State of ________________________________, Zip code ________________________, further agree to the terms of this Addendum which are hereby incorporated as part of the Contract, and to the extent the terms of this Addendum modify or conflict with any provisions of the Contract, including all prior addenda and counteroffers, the terms of this Addendum supersede the terms of the Contract. 1. NO BINDING CONTRACT: Seller and Buyer acknowledge that the Proposed Contract represents a “Short Sale”, meaning that the purchase price set forth in the Contract is less than the amount(s) owed to certain third parties and is insufficient to discharge all debts and obligations secured by liens on the Real Estate. Buyer and Seller acknowledge that a Short Sale requires the written approval of the Contract by certain third parties, such as a lender, lien claimant, or other party having an interest in the Real Estate, a list of which is attached hereto by Seller (the “Third Parties”), and that by virtue of executing this Addendum, the Contract is hereby rendered a non-binding offer/proposed contract (“Proposed Contract”) until such third-party approval is granted in accordance with Section 3 below. Any Earnest Money required under the Contract shall not be due and payable until the Proposed Contract is accepted and becomes binding in accordance with Section 3 below. If any Earnest Money has already been deposited or paid by Buyer, said Earnest Money shall be returned to Buyer upon the execution of this Addendum by Buyer and Seller. 2. THIRD PARTY APPROVAL OF THE SHORT SALE: No later than four (4) days after the execution of this Addendum by Seller and Buyer, Seller shall submit to the Third Parties the Proposed Contract together with any additional documentation required by the Third Parties for review and consideration. Buyer and Seller acknowledge that it may take an extended period of time to obtain written approval of the Proposed Contract by the Third Parties. Buyer and Seller acknowledge that the Third Parties may, in their sole discretion, elect to request modifications to the terms of the Proposed Contract, or reject the Proposed Contract. Seller shall instruct the Third Parties to provide approval status updates to Broker(s) and Buyer upon request. 3. THIRD PARTY CONDITIONS: If one or more of the Third Parties requests modifications to the Proposed Contract (“Third Party Conditions”), Seller shall, no later than four (4) days after Seller’s receipt of the Third Party Conditions, provide a counter offer to Buyer that includes the Third Party Conditions that modify Buyer’s obligations under the Proposed Contract. The Third Party Conditions shall not be binding upon Buyer or Seller without their mutual written consent, which consent may be withheld by Buyer and/or Seller in their respective sole discretion. If by the Approval Deadline referenced in Section 4 below, Buyer, Seller and the Third Parties reach a written agreement, evidenced by written notice signed by Seller, Buyer and Third Parties (“Agreement Notice”), and Buyer or Seller has not previously rescinded the Proposed Contract as is permitted in Section 7 below, then Buyer and Seller shall be deemed to have entered into a binding contract with each other for the purchase and sale of the Real Estate, with the Third Parties approval of the Short Sale, and the Proposed Contract shall be deemed accepted and binding on Buyer and Seller. Upon receipt of signed Agreement Notice by all parties, Buyer shall deposit or pay any Earnest Money in accordance with the Contract and Listing Broker shall update MLS listing information in accordance with MLS Regulations. 4. FAILURE TO OBTAIN THIRD PARTY APPROVAL: If by the __________ day of __________________________(“Approval Deadline”), Buyer, Seller and the Third Parties have not reached a written agreement as provided in Section 3 above, the Proposed Contract shall automatically be deemed rescinded and shall be null and void. 5. IF FORECLOSURE ACTION HAS BEEN FILED: Buyer acknowledges that a foreclosure action may have been filed against the Seller prior to or during the pendency of the Contract and the sale of the Real Estate may be subject to court approval and/or redemption by the Seller. Therefore, action may be required by Seller to obtain court approval of the Short Sale or to redeem the Real Estate and complete the Short Sale. If Seller is unable to obtain such approval or to redeem the Real Estate, then Seller may terminate the Contract upon written notice to Buyer and neither party shall have any further obligations hereunder. Buyer may at its sole option, but is not obligated to, contribute to the payment of any sums required to be paid by Seller in order to obtain court approval of the Short Sale or to redeem the Real Estate. 6. SELLER’S RIGHT TO ACCEPT ADDITIONAL OFFERS: Buyer agrees that at any time prior to Buyer, Seller and the Third Parties reaching a written agreement as provided in Section 3 above, Seller may (a) continue to market the Real Estate and advertise it through the MLS as available for sale, (b) accept additional offers for purchase of the Real Estate, and (c) at Seller’s option, forward any such additional offers to the Third Parties for review and approval. 7. RIGHT TO RESCIND PROPOSED CONTRACT: In consideration of the rights reserved by Seller under Section 6 above, Seller agrees that at any time prior to Buyer, Seller and the Third Parties reaching a written agreement as provided in Section 3 above, Seller or Buyer may rescind the Proposed Contract for any reason, or for no reason, by providing written notice of rescission to the other party. 8. CONTRACT DEADLINES: Commencement of time periods for performance on the Contract shall be defined as the day the Agreement Notice is delivered to Buyer and all time periods provided for in the Contract, including the Inspection Period, shall commence on the day following delivery of the Agreement Notice. Date deadlines provided for in the Contract may be modified in the event Buyer, Seller and the Third Parties reach a written agreement; provided, however, that any such modification shall be in accordance with any Third Party Conditions and shall be mutually agreed upon by the parties. 9.

ALL OTHER TERMS OF THE CONTRACT, including all prior addenda and counteroffers, not modified by this Addendum shall remain the same.

10. LEGAL AND TAX ADVICE: Seller and Buyer are advised to obtain legal advice regarding the advisability and terms of any Short Sale, the Contract, the Proposed Contract, any addendum thereto, this Addendum, dealings with creditor(s), foreclosure, and any other legal matters related to this transaction, and are advised to seek professional tax advice regarding the tax implications of any such Short Sale. SELLER ____________________________ DATE ____________________ SELLER ____________________________ DATE ____________________ BUYER ____________________________ DATE ____________________ BUYER ____________________________ DATE _____________________

Understanding Short Sales A product of the CINCINNATI AREA BOARD OF REALTORS®, INC.

Approved by Board Legal Counsel for exclusive use by REALTORS® This document is for informational purposes only. If not understood, seek legal advice. For real estate advice, consult a REALTOR®.

This form is provided by ____________________________________ (REALTOR® Firm). The following is an explanation regarding some of the practical and legal issues involved in Short Sales. THIS FORM IS FOR YOUR INFORMATION ONLY. 1.

The Short-Sale Defined. The term “Short Sale” is used in the real estate industry to describe a situation where the debt owing against a property is greater than the fair market value of the property. In other words, the owner cannot sell the property unless the creditor(s) (“Third Parties”) agree to accept a payment that is less, or short, of the amount(s) actually owed to the Third Parties. The Third Parties are usually mortgage lenders, mortgage insurers, bankruptcy trustees, and federal, state and local taxing authorities (such as IRS or State Tax Commission).

No Binding Contract Without Third Party Approval. A Short Sale requires the written approval of the Third Parties. Consequently, the owner of the property, and any interested buyer, are advised that even if they reach an agreement between themselves for the purchase and sale of the property, that agreement will not be binding until the Third Parties approve the terms of the Short Sale. A proposed Short Sale may require that the seller provide a list of the Third Parties having an interest in the Real Estate. If the seller wishes to keep that information confidential during the approval process, the provision should be deleted in the proposal. The interested buyer may insist on such information to determine the complexity of reaching an agreement between the seller, buyer and Third Parties. Earnest Money may not be required until all parties have reached an agreement on the terms of the Short Sale.

Third Party Rejection or Changes to Proposed Short Sale. Based upon the obvious financial loss, Third Parties will often reject a proposed Short Sale. If however, the Third Parties do not reject the proposed Short Sale, they will usually send to the owner of list of requested changes to the proposed purchase contract. Some of the changes may affect the owner and others may affect the interested buyer. For example, the Third Parties may require that the property be sold in “as-is” condition. Also, the Third Parties will often not permit the owner to pay for any of the buyer’s closing costs, repairs, etc. The owner and the interested buyer are not obligated to accept any of the changes requested by the Third Parties – in which case, there will be no Short Sale. If, however, the owner, the interested buyer, and the Third Parties reach a written agreement with each other, the Short Sale transaction may proceed to closing. Please note that if the property is in foreclosure during the pendency of the Short Sale, action may be necessary by the seller to redeem the property to complete the Short Sale.

Delays in Response from the Third Parties. Most purchase contracts for Short Sales impose a deadline for written approval by the Third Parties. Communication between the Listing and Selling agents should take place to determine the status of any action previously taken to facilitate a Short Sale and a practical approval deadline. It should be noted, however, that the Third Parties rarely meet that deadline. THE OWNER AND THE INTERESTED BUYER SHOULD BE PREPARED FOR SIGNIFICANT DELAYS IN RECEIVING ANY RESPONSE FROM THE THIRD PARTIES. Written extensions to the deadline should be obtained, if necessary. Otherwise, the proposed Short Sale may be deemed null and void.

Right of Third Parties to Encourage Additional Offers. As a condition of considering any proposed Short Sale, the Third Parties will usually require that the owner keep the property on the market, even after the owner and the interested buyer have agreed to the terms of a proposed purchase contract. Because the Third Parties are being asked to accept payment that is less than what is owed to them, they want to obtain the highest possible price for the property. Therefore, it is to their advantage to require the owner to keep the property on the market and to promptly submit to the Third Parties any additional purchase offers that the owner may receive from other interested buyers. THE OWNER AND THE INTERESTED BUYER SHOULD UNDERSTAND THAT THE THIRD PARTIES MAY NOT RESPOND TO A PROPOSED SHORT SALE TRANSACTION UNTIL THEY HAVE HAD AN OPPORTUNITY TO COMPARE THAT OFFER WITH OTHER PURCHASE OFFERS. THAT PROCESS MAY ALSO RESULT IN SIGNIFICANT DELAYS FOR ALL PARTIES.

Right of Seller or Buyer to Cancel. As provided in paragraph 5 above, the owner will usually be required by the Third Parties to continue to market the property even after the owner and the interested buyer have entered into a purchase agreement. Based upon that requirement, the owner and the interested buyer are also advised that until the owner, the interested buyer, and the Third Parties reach a written agreement, the seller or the interested buyer may cancel the proposed Short Sale transaction for any reason, or for no reason, by providing written notice to the other party.

Legal and Tax Advice. THIS FORM IS FOR YOUR INFORMATION ONLY AND DOES NOT PROVIDE ANY LEGAL OR TAX ADVICE REGARDING SHORT SALES. YOU ARE ADVISED TO OBTAIN ADVICE FROM A LEGAL AND/OR TAX PROFESSIONAL ON THE ADVISABILITY OF ANY SHORT SALE. ACKNOWLEDGEMENT OF RECEIPT The undersigned acknowledge that they have read and understand this document.

Signature: ________________________________________________ Date: ______________________ Signature: ________________________________________________ Date: ______________________

Waiver of Contingency A product of the CINCINNATI AREA BOARD OF REALTORS®, INC. Approved by Board Legal Counsel, except for underlined items, for exclusive use by REALTORS®. This is a legally binding contract. If not understood, seek legal advice. For real estate advice, consult your REALTOR®.

The undersigned hereby waive the following contingencies set forth in the Contract to Purchase dated as of ________________________ _______________________ between __________________________________________________________________________ (Seller) and _________________________________________________________________________________________ (Buyer): __________________________________________________________________________________________________________ __________________________________________________________________________________________________________ __________________________________________________________________________________________________________ __________________________________________________________________________________________________________ __________________________________________________________________________________________________________

_____________________________________________ DATE/TIME ____________________________ (Waiving Party’s Signature) _____________________________________________ DATE/TIME ____________________________ (Waiving Party’s Signature)