Paragraph 21: Options for Other Expert Services Buyers and sellers have the liberty to choose their service providers, despite the broker's recommendations for home inspections or other professionals. Paragraph 22: Changes to the Entire Contract Must Be Made in Writing Emphasizes that any modifications to the contract must be in writing, safeguarding both parties' interests. Verbal promises during negotiations aren't legally protected unless documented in writing. Paragraph 23: Additional Documents Allows the buyer to include extra conditions and documents not covered in the contract. Paragraph 24: Definition Defines terms listed in the contract for clarity. Paragraph 25: Broker Informs buyers about their agent's potential dealings with other buyers and whether their agent represents the seller as well. Alerts the seller that the seller's agent may also be involved in selling properties directly or indirectly through affiliated agents. Paragraph 26: Instructions Given by the Buyer and Seller to the Third-Party Trust Company Instructs the escrow company and informs both parties about additional document signing requirements. Directs the third-party trust company to pay the broker upon completing the sale. Paragraph 27: Commission Paid by Buyer to Broker States that the buyer is only obligated to pay a commission if specified in another written document.
Paragraph 28: Terms and Conditions of the Bid Informs the seller that a buyer is preparing to submit an offer on the home. Paragraph 29: Validity Period of Bid Specifies the person authorized to receive the seller's acceptance of the contract on behalf of the buyer. This person lacks the authority to accept or sign changes to the contract without specific authorization. Paragraph 30: Fees Paid by the Seller to the Broker Details any fees the seller agrees to pay the real estate agent. Paragraph 31: Accept Bid Allows the seller to accept the buyer's offer or counter-offer, where the seller may propose changes to certain buyer requirements while agreeing to others. Explains the conditions for legal effect and the signing process. Paragraph 32: Final Verification of the Current Condition of the House Upon Handover Gives the buyer a final chance to inspect the house before the handover, ensuring that agreed improvements have been completed. Paragraph 33: House Delivery Describes the delivery status of the house the buyer wishes to purchase. Specifies the time for existing residents to vacate, allowing both buyer and seller to confirm the key handover time.
Note: Contract terms may vary, so refer to the actual document for specific details.
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