DRAFT
RPA 12/21 (PAGE 1 OF 16)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT
ESCROW INSTRUCTIONS
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS(RPA PAGE 1 OF 16)
Date Prepared:________________
________________________________________________________________________(“Buyer”).
to be acquired is _________________________________________________________________, situated
in _______________________________ (City), _________________________ (County), California, ___________(Zip Code),
Assessor’s Parcel No(s)._______________________________________________________________________(“Property”).
Buyer and Seller are referred to herein as the “Parties.” Brokers and Agents are not Parties to this Agreement.
The Parties each acknowledge receipt of a “Disclosure Regarding Real Estate Agency Relationships” (C.A.R.
Form AD) if represented by a real estate licensee. Buyer’s Agent is not legally required to give to Seller’s Agent the AD form
Signed by Buyer. Seller’s Agent is not legally obligated to give to Buyer’s Agent the AD form Signed by Seller.
The following agency relationships are hereby confirmed for this transaction:
Seller’s Brokerage Firm __________________________________________________License Number_________________
Is the broker of (check one):
n the Seller; or n both the Buyer and Seller (Dual Agent).
Seller’s Agent____________________________________________________________License Number_________________
Is (check one):
n the Seller’s Agent (Salesperson or broker associate); n both the Buyer’s and Seller’s Agent (Dual Agent).
Buyer’s Brokerage Firm __________________________________________________License Number_________________
Is the broker of (check one):
n the Buyer; or n both the Buyer and Seller (Dual Agent).
Buyer’s Agent____________________________________________________________License Number_________________
Is (check one):
n the Buyer’s Agent (Salesperson or broker associate); n both the Buyer’s and Seller’s Agent (Dual Agent).
n More than one Brokerage represents n Seller and/or n Buyer, Additional Broker Acknowledgement (C.A.R. Form ABA)
attached.
The Parties each acknowledge receipt of a n “Potential Representation
of More than One Buyer or Seller - Disclosure and Consent” (C.A.R. Form PRBS).
AND ALLOCATION OF COSTS The items in this paragraph are contractual terms of the Agreement.
Referenced paragraphs provide further explanation of these contractual terms.
Paragraph
#
Paragraph Title or Contract
Term
Terms and Conditions Additional Terms
A 5 Purchase Price $ ____________________________________ n All Cash
B Close Of Escrow (COE) _____ Days after Acceptance
OR on ____________ (date)
(mm/dd/yyyy)
C 32A Expiration of Offer 3 Days after Buyer Signature or
_____________ (date) at 5PM or _____
n AM/
n PM
D(1) 5A(1) Initial Deposit Amount $ ______________ (_____% of purchase price)
(% number above is for calculation purposes
and is not a contractual term)
within 3 (or _____) business days
after Acceptance
D(2) 5A(2)
n Increased Deposit
(money placed into escrow after
the initial deposit)
$ ______________ (_____% of purchase price)
(% number above is for calculation purposes
and is not a contractual term)
Upon removal of all contingencies
OR n __________________ (date)
OR
n _______________________
E(1) 5C(1) First
Interest Rate
Points
If FHA or VA checked, Deliver list of
lender required repairs
$ ______________ (_____% of purchase price)
Fixed rate or
n Initial adjustable rate up to:
_____%
Buyer to pay zero points or up to _____% of the
loan amount
17 (or _____) Days after Acceptance
Conventional or, if checked,
n FHA n VA n Seller Financing
n Other:
________________________
(CAR Forms FVAC, HID attached)
E(2) 5C(2) Additional Financed Amount
Interest Rate
Points
$ ____________ (_____% of purchase price)
Fixed rate or
n Initial adjustable rate not to
exceed _____%
Buyer to pay zero points or up to _____% of the
loan amount
Conventional or, if checked,
n Seller Financing
n Other:
________________________
E(3) 7A Occupancy Type Primary, or if checked,
n Secondary n Investment
F 5D Balance of Down Payment $________________________________
PURCHASE PRICE TOTAL $________________________________
© 2020, California Association of REALTORS®, Inc.
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
4
CALIFORNIA
ASSOCIATION
OF REALTORS
®
DRAFT
Paragraph
#
Paragraph Title or Contract
Term
Terms and Conditions Additional Terms
G 5E n $________ (_____% of purchase price)
(% number above is for calculation purposes and
is not a contractual term)
Seller credit to be applied to closing
costs ) OR
n Other: _____________________
H(1) 5B Verification of All Cash (sufficient
funds)
Attached to the offer or
n 3 Days after
Acceptance
H(2) 6A Verification of Down Payment and
Closing Costs
Attached to the offer or
n 3 Days after
Acceptance
H(3) 6B Verification of Loan Application Attached to the offer or
n 3 Days after
Acceptance
n Prequalification n Preapproval
n Fully underwritten preapproval
I Intentionally Left Blank
J 16 Final Verification of Condition 5 (or _____) Days prior to COE
K 23 Assignment Request 17 (or _____) Days after Acceptance
L 8 CONTINGENCIES TIME TO REMOVE CONTINGENCIES
Contingencies may be removed or waived at time of the offer by checking the applicable box(es)
L(1) 8A Loan 17 (or _____) Days after Acceptance
n No loan contingency
L(2) 8B Appraisal contingency
based upon appraised value at a
minimum of purchase price or
n $ ____________________
17 (or _____) Days after Acceptance n No appraisal contingency
L(3) 8C Investigation of Property 17 (or _____) Days after Acceptance
Informational Access to Property 17 (or _____) Days after Acceptance
Buyer’s right to access the Property for informational purposes only is NOT a contingency
and does NOT create additional cancellation rights for Buyer.
L(4) 8D Review of Seller Documents 17 (or _____) Days after Acceptance, or 5 Days
after receipt, whichever is later
L(5) 8E Preliminary ("Title") Report 17 (or _____) Days after Acceptance or 5 Days
after receipt, whichever is later
L(6) 8F
11F(1)
Common Interest Disclosures
required by Civil Code § 4525 or this
Agreement
17 (or _____) Days after Acceptance, or 5 Days
after receipt, whichever is later
L(7) 8G Review of leased or liened items
(Such as for solar panels or propane
tanks or PACE or HERO liens)
17 (or _____) Days after Acceptance, or 5 Days
after receipt, whichever is later
L(8) 8J Sale of Buyer's Property
Sale of Buyer’s property is not a
contingency, UNLESS checked
here:
n C.A.R. Form COP attached
M Possession Time for Performance Additional Terms
M(1) Time of Possession Upon notice of recordation, OR n 6 PM or
n _____ n AM/n PM on date specified, as
applicable, in 3M(2) or attached TOPA.
M(2) 7C Seller Occupied or Vacant units COE date or, if checked below,
n ____ Days after COE (29 or fewer Days)
n ____ Days after COE (30 or more Days)
C.A.R. Form SIP attached if 29 or
fewer Days. C.A.R. Form RLAS
attached if 30 or more Days.
M(3) 4A
n Tenant Occupied units If checked, see Tenant Occupied Property
Addendum (C.A.R. form TOPA) attached
N Documents/Fees/Compliance Time for Performance Additional Terms
N(1) 14A Seller Delivery of Documents 7 (or _____) Days after Acceptance
N(2) 19 Sign and return Escrow Holder
General Provisions, Supplemental
Instructions
5 (or _____) Days after receipt
N(3) 11F(2) Time to pay fees for ordering HOA
Documents
3 (or _____) Days after Acceptance
N(4) 10B(1) Install smoke alarm(s), CO detector(s),
water heater bracing
7 (or _____) Days after Acceptance
O
Intentionally Left Blank
RPA 12/21 (PAGE 2 OF 16)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 2 OF 16)
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
DRAFT
RPA 12/21 (PAGE 3 OF 16)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 3 OF 16)
P Items Included and Excluded
P(1)
9
n Stove(s), oven(s), stove/ n Security system(s)/alarm(s), other than n Above-ground pool(s)/ n spa(s);
oven combo(s); separate video doorbell and camera n Bathroom mirror(s), unless
n Refrigerator(s); equipment); excluded below;
n Wine Refrigerator(s); n Video doorbell(s); n Electric car charging system(s)
n Washer(s) n Security camera equipment; and station(s);
n Dryer(s); n Smart home control devices; n ________________________;
n Dishwasher(s); n Wall mounted brackets for video n ________________________;
n Microwave(s); or audio equipment; n ________________________;
n __________________________; n ____________________________; n ________________________;
P(2) 9
n __________________________; n ____________________________; n ________________________;
Q Allocation of Costs
Paragraph
#
Item Description Who Pays (if Both is checked, cost to be split
equally unless Otherwise Agreed)
Additional Terms
Q(1) 10 Natural Hazard Zone Disclosure
Report, including tax information
n Buyer n Seller n Both _________________
_____________________________________
_____________________________________
n Environmental
n Other ____________________
n Provided by:
___________________________
___________________________
Q(2) _______________________ Report
n Buyer n Seller n Both _________________
Q(3) _______________________ Report
n Buyer n Seller n Both _________________
Q(4) 10B(1) Smoke alarms, CO detectors, water
heater bracing
n Buyer n Seller n Both _________________
Q(5) 10B(2)(i) Government Required Point of Sale
inspections, reports
n Buyer n Seller n Both _________________
Q(6) 10B(2)(ii) Government Required Point of Sale
corrective/remedial actions
n Buyer n Seller n Both _________________
Q(7) 19A Escrow Fees
n Buyer n Seller n Both _________________
n Each to pay their own fees
Escrow Holder:
____________________________
Q(8) 13 Owner's title policy
n Buyer n Seller n Both _________________ Title Company (If different
from Escrow Holder):
____________________________
Q(9) Buyer’s Lender title policy Buyer Unless Otherwise Agreed, Buyer
shall purchase any title insurance
policy insuring Buyer’s lender.
Q(10) County transfer tax, fees
n Buyer n Seller n Both _________________
Q(11) City transfer tax, fees
n Buyer n Seller n Both _________________
Q(12) 11F(2) HOA fee for preparing disclosures Seller
Q(13) HOA certification fee Buyer
Q(14) HOA transfer fees
n Buyer n Seller n Both _________________ Unless Otherwise Agreed, Seller
shall pay for separate HOA move-
out fee and Buyer shall pay for
separate move-in fee. Applies if
separately billed or itemized with
cost in transfer fee.
Q(15) Private transfer fees Seller, or if checked,
n Buyer n Both
_____________________________________
Q(16) ___________________ fees or costs
n Buyer n Seller n Both _________________
Q(17) ___________________ fees or costs
n Buyer n Seller n Both _________________
Q(18) 10C Home warranty plan, one year
n Buyer n Seller n Both _________________
n Buyer waives home warranty plan
Cost not to exceed $ ___________.
Issued by:
____________________________
R(1)
________________________________________________________________________________________________________________
R(2)
________________________________________________________________________________________________________________________
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
4
DRAFT
RPA 12/21 (PAGE 4 OF 16)
(check all that apply)
This Agreement is subject to the terms contained in the Addenda checked below:
n Probate Agreement Purchase Addendum (C.A.R. Form PAPA)
n Manufactured Home Purchase Addendum (C.A.R. Forms MH-PA)
n Tenant Occupied Property Addendum (C.A.R. Form TOPA) (Should be checked whether current tenants will remain or not.)
n Tenancy in Common Purchase Addendum (C.A.R. Form TIC-PA)
n Stock Cooperative Purchase Addendum (C.A.R. Form COOP-PA)
n Other _______________________________________________________________________________________________
This Agreement is subject to the terms contained in the Addenda checked below:
n Addendum #______________ (C.A.R. Form ADM) n Short Sale Addendum (C.A.R. Form SSA)
n Back Up Offer Addendum (C.A.R. Form BUO) n Court Confirmation Addendum (C.A.R. Form CCA)
n Septic, Well and Property Monument Addendum n Buyer Intent to Exchange Addendum (C.A.R. Form BES)
(C.A.R. Form SWPI)
n Seller Intent to Exchange Addendum (C.A.R. Form SES)
n Other ___________________________________
n Buyer’s Inspection Advisory (C.A.R. Form BIA) n Fair Housing and Discrimination Advisory (C.A.R. Form FHDA)
n Wire Fraud Advisory (C.A.R. Form WFA) n Cal. Consumer Privacy Act Advisory (C.A.R. Form CCPA)
(Agents who are covered businesses under the CCPA may have their own separate disclosure.)
n Wildfire Disaster Advisory (C.A.R. Form WDFA) n Statewide Buyer and Seller Advisory (C.A.R. Form SBSA)
n Trust Advisory (C.A.R. Form TA) n Short Sale Information and Advisory (C.A.R. Form SSIA)
n REO Advisory (C.A.R. Form REO) n Probate Advisory (C.A.R. Form PA)
n Other: ___________________________________________
ADDITIONAL TERMS AFFECTING PURCHASE PRICE: Buyer represents that funds will be good when deposited with Escrow
Holder.
(1) Buyer shall deliver deposit directly to Escrow Holder in any manner acceptable to Escrow Holder. If
acceptable to Escrow Holder, delivery shall be by
n wire transfer, n personal check, or n cashier’s check.
(2) Increased deposit to be delivered to Escrow Holder in the same manner as the Initial Deposit. If
the Parties agree to liquidated damages in this Agreement, they also agree to incorporate the increased deposit into the
liquidated damages amount by signing a new liquidated damages clause (C.A.R. Form DID) at the time the increased deposit
is delivered to Escrow Holder.
(3)
real
estate attorney before adding any other clause specifying a remedy (such as release or forfeiture of deposit or
invalid unless the clause independently satisfies the statutory liquidated damages requirements set forth in the
If an all cash offer is specified in paragraph 3A, no loan is needed to purchase the Property. This Agreement
is NOT contingent on Buyer obtaining a loan. Buyer shall, within the time specified in paragraph 3H(1), Deliver written verification
of funds sufficient for the purchase price and closing costs.
(1) This loan will provide for conventional financing UNLESS FHA, VA, Seller (C.A.R. Form SFA), or Other is
checked in paragraph 3E(1).
(2) If an additional financed amount is specified in paragraph 3E(2), that amount will
provide for conventional financing UNLESS Seller financing (C.A.R. Form SFA), or Other is checked in paragraph 3E(2).
(3) Buyer authorizes Seller to contact Buyer’s lender(s) to determine the status of any Buyer’s loan
specified in paragraph 3E, (or any alternate loan Buyer pursues) whether or not a contingency of this Agreement. If the
contact information for Buyer’s lender(s) is different from that provided under the terms of paragraph 6B, Buyer shall Deliver
the updated contact information within 1 Day of Seller’s request.
(4) If specified in paragraph 3E(1): A FHA/VA amendatory clause (C.A.R. Form FVAC) shall be a part of this
transaction. Buyer shall, within the time specified in paragraph Deliver to Seller written notice (C.A.R. Form RR or
AEA) (i) of any lender-required requirements that Buyer requests Seller to pay for or otherwise correct or (ii) that there are no
lender requirements. Notwithstanding Seller’s agreement that Buyer may obtain FHA or VA financing, Seller has no obligation
to pay or satisfy any or all lender requirements unless agreed in writing.
to be deposited with Escrow Holder
pursuant to Escrow Holder instructions.
Any credit to Buyer, from any source, for closing or other costs that is agreed to by the Parties
(“Contractual Credit”) shall be disclosed to Buyer’s lender, if any, and made at Close Of Escrow. If the total credit allowed by
Buyer’s lender (“Lender Allowable Credit”) is less than the Contractual Credit, then (i) the Contractual Credit from Seller shall be
reduced to the Lender Allowable Credit, and (ii) in the absence of a separate written agreement between the Parties, there shall
be no automatic adjustment to the purchase price to make up for the difference between the Contractual Credit and the Lender
Allowable Credit.
Written verification of Buyer's down payment and closing costs
may be made by Buyer or Buyer’s lender or loan broker pursuant to paragraph 6B.
Buyer shall Deliver to Seller, within the time specified in paragraph 3H(3) a
letter from Buyer’s lender or loan broker stating that, based on a review of Buyer’s written application and credit report, Buyer is
prequalified or preapproved for any NEW loan specified in paragraph 3E. If any loan specified in paragraph 3E is an adjustable
rate loan, the prequalification or preapproval letter shall be based on the qualifying rate, not the initial loan rate.
44
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 4 OF 16)
44
DRAFT
RPA 12/21 (PAGE 5 OF 16)
Seller is relying on Buyer’s representation of the type of financing specified (including, but not
limited to, as applicable, all cash, amount of down payment, or contingent or non-contingent loan). Seller has agreed to a specific
closing date, purchase price and to sell to Buyer in reliance on Buyer’s covenant concerning financing. Buyer shall pursue the
financing specified in this Agreement. Seller has no obligation to cooperate with Buyer’s efforts to obtain any financing other
than that specified in this Agreement. Buyer's inability to obtain alternate financing does not excuse Buyer from the obligation to
purchase the Property and close escrow as specified in this Agreement.
Buyer intends to occupy the Property as indicated in paragraph 3E(3). Occupancy may impact available financing.
(1) Unless Otherwise Agreed: (i) the Property shall be delivered “As-Is” in its PRESENT physical condition as of the date of
Acceptance; (ii) the Property, including pool, spa, landscaping and grounds, is to be maintained in substantially the same
condition as on the date of Acceptance; and (iii) all debris and personal property not included in the sale shall be removed
by Close Of Escrow or at the time possession is delivered to Buyer, if not on the same date. If items are not removed when
possession is delivered to Buyer, all items shall be deemed abandoned. Buyer, after first Delivering to Seller written notice to
remove the items within 3 Days, may pay to have such items removed or disposed of and may bring legal action, as per this
Agreement, to receive reasonable costs from Seller.
(2) Buyer is strongly advised to conduct investigations of the entire Property in order to determine its present
SELLER REMAINING IN POSSESSION AFTER CLOSE OF ESCROW If Seller has the right to remain in possession after Close
Of Escrow pursuant to paragraph 3M(2) or as Otherwise Agreed, (i) the Parties are advised to consult with their insurance and
legal advisors for information about liability and damage or injury to persons and personal and real property; (ii) Buyer is advised
to consult with Buyer’s lender about the impact of Seller’s occupancy on Buyer’s loan; and (iii) consult with a qualified California
real estate attorney where the Property is located to determine the ongoing rights and responsibilities of both Buyer and Seller
with regard to each other, including possible tenant rights, and what type of written agreement to use to document the relationship
between the Parties.
Seller assigns to Buyer any assignable warranty rights for items included in the sale; and (ii) Seller shall
Deliver to Buyer available Copies of any such warranties. Agents cannot and will not determine the assignability of any warranties.
Seller shall, on Close Of Escrow unless Otherwise Agreed and even if Seller remains in possession, provide keys, passwords,
codes and/or means to operate all locks, mailboxes, security systems, alarms, home automation systems, intranet and Internet-
connected devices included in the purchase price, garage door openers, and all items included in either paragraph 3P or
paragraph 9. If the Property is a condominium or located in a common interest development, Seller shall be responsible for
securing or providing any such items for Association amenities, facilities, and access. Buyer may be required to pay a deposit to
the Homeowners’ Association (“HOA”) to obtain keys to accessible HOA facilities.
(1) This Agreement paragraph contingent upon Buyer obtaining the loan(s) specified
above. If contingent, Buyer shall act diligently and in good faith to obtain the designated loan(s). If there is no appraisal
at the purchase price does not entitle Buyer to exercise the cancellation right pursuant to the loan contingency if
Buyer is otherwise qualified for the specified loan and Buyer is able to satisfy lender’s non-appraisal conditions
(2) Buyer is advised to investigate the insurability of the Property as early as possible, as this may be a requirement for lending.
Buyer’s ability to obtain insurance for the Property, including fire insurance, is part of Buyer’s Investigation of Property
contingency. Failure of Buyer to obtain insurance may justify cancellation based on the Investigation contingency but not the
loan contingency.
(3) Buyer’s contractual obligations regarding deposit, balance of down payment and closing costs are not contingencies of this
Agreement, unless Otherwise Agreed.
(4) If there is an appraisal contingency, removal of the loan contingency shall not be deemed removal of the appraisal contingency.
(5) If No loan contingency is checked in paragraph 3L(1), obtaining any loan specified above is
NOT a contingency of this Agreement. If Buyer does not obtain the loan specified, and as a result is unable to purchase the
Property, Seller may be entitled to Buyer’s deposit or other legal remedies.
(1) This Agreement specified in paragraph 3L(2), contingent upon a written appraisal of the Property
by a licensed or certified appraiser at no less than the amount specified in paragraph 3L(2), without requiring repairs or
improvements to the Property. Appraisals are often a reliable source to verify square footage of the subject Property. However,
the ability to cancel based on the measurements provided in an appraisal falls within the Investigation of Property contingency.
The appraisal contingency is solely limited to the value determined by the appraisal. For any cancellation based upon this
appraisal contingency, Buyer shall Deliver a Copy of the written appraisal to Seller, upon request by Seller.
(2) If "No appraisal contingency" is checked in paragraph 3L(2), then Buyer may not use the
loan contingency specified in paragraph 3L(1) to cancel this Agreement if the sole reason for not obtaining the loan is that the
appraisal relied upon by Buyer’s lender values the property at an amount less than that specified in paragraph 3L(2). If Buyer
is unable to obtain the loan specified solely for this reason, Seller may be entitled to Buyer’s deposit or other legal remedies.
This Agreement is, as specified in paragraph 3L(3), contingent upon Buyer’s acceptance of
the condition of, and any other matter affecting the Property.
This Agreement is, as specified in paragraph 3L(4), contingent upon Buyer’s review of
Seller’s documents required in paragraph 14A.
(1) This Agreement is, as specified in paragraph 3L(5), contingent upon Buyer’s ability to obtain the title policy provided for in
paragraph 13G and on Buyer’s review of a current Preliminary Report and items that are disclosed or observable even if not
on record or not specified in the Preliminary Report, and satisfying Buyer regarding the current status of title. Buyer is advised
to review all underlying documents and other matters affecting title, including, but not limited to, any documents or deeds
referenced in the Preliminary Report and any plotted easements.
(2) Buyer has 5 Days after receipt to review a revised Preliminary Report, if any, furnished by the Title Company and cancel the
transaction if the revised Preliminary Report reveals material or substantial deviations from a previously provided Preliminary
Report.
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 5 OF 16)
DRAFT
RPA 12/21 (PAGE 6 OF 16)
This Agreement is, as specified in paragraph
3L(6), contingent upon Buyer’s review of Common Interest Disclosures required by Civil Code § 4525 and under paragraph 11F
(“CI Disclosures”).
Buyer’s review of and ability and willingness to assume
any lease, maintenance agreement or other ongoing financial obligation, or to accept the Property subject to any lien, disclosed
pursuant to paragraph 9B(6), is, as specified in paragraph 3L(7), a contingency of this Agreement. Any assumption of the
lease shall not require any financial obligation or contribution by Seller. Seller may cancel this Agreement if Buyer, at least 5
Days prior to Close Of Escrow, refuses to enter into any necessary written agreements to accept responsibility for all obligations
of Seller-disclosed leased or liened items.
If Buyer does remove a contingency without first receiving all required information from Seller, Buyer is
relinquishing any contractual rights that apply to that contingency. If Buyer removes or waives any contingencies without an
(1)
(2) For the contingency for Review of Seller Documents and the contingency for Condominium/Planned Development
Disclosures, Buyer shall, within the time specified in paragraph 3L or 5 Days after receipt of Seller Documents or CI
Disclosures, whichever occurs later, remove the applicable contingency in writing or cancel this Agreement.
(3) If Buyer does not remove the contingency within the above timeframes, Seller, after first giving Buyer a Notice to Buyer to
Perform (C.A.R. Form NBP), shall have the right to cancel this Agreement.
This Agreement and Buyer’s ability to obtain financing are NOT contingent upon the sale of any
property owned by Buyer unless the Sale of Buyer’s Property (C.A.R. Form COP) is checked as a contingency of this Agreement
in paragraph 3L(8).
Items listed as included or excluded in the Multiple Listing Service (MLS), flyers, marketing
materials, or disclosures are NOT included in the purchase price or excluded from the sale unless specified in paragraph 3P. Any
items included herein are components of the home and are not intended to affect the price. All items are transferred without value
and without Seller warranty, unless Otherwise Agreed.
(1) All EXISTING fixtures and fittings that are attached to the Property;
(2) EXISTING electrical, mechanical, lighting, plumbing and heating fixtures, ceiling fans, fireplace inserts, gas logs and grates,
solar power systems, built-in appliances and appliances for which special openings or encasements have been made (whether
or not checked in paragraph 3P), window and door screens, awnings, shutters, window coverings (which includes blinds,
curtains, drapes, shutters or any other materials that cover any portion of the window), attached floor coverings, television
antennas, satellite dishes, air coolers/conditioners, pool/spa equipment (including, but not limited to, any cleaning equipment
such as motorized/automatic pool cleaners, pool nets, pool covers), garage door openers/remote controls, mailbox, in-ground
landscaping, potted trees/shrubs, water features and fountains, water softeners, water purifiers , light bulbs (including smart
bulbs) and all items specified as included in paragraph 3P,
If Seller does not intend to include any item specified as being included above because it is not owned by Seller,
whether placed on the Property by Agent, stager or other third party, the item should be listed as being excluded in paragraph
3P or excluded by Seller in a counter offer.
(3) Security System includes any devices, hardware, software, or control units used to monitor and secure the Property, including
but not limited to, any motion detectors, door or window alarms, and any other equipment utilized for such purpose. If checked
in paragraph 3P, all such items are included in the sale, whether hard wired or not.
(4) Home Automation (Smart Home Features) includes any electronic devices and features including, but not limited to, thermostat
controls, kitchen appliances not otherwise excluded, and lighting systems, that are connected to a control unit, computer,
tablet, phone, or other “smart” device. Any Smart Home devices and features that are physically affixed to the real property,
and also existing light bulbs, are included in the sale. Buyer is advised to use paragraph 3P(1) or an addendum to address
more directly specific items to be included. Seller is advised to use a counter offer to address more directly any items to be
excluded.
(5) Non-Dedicated Devices: If checked in paragraph 3P, all smart home control devices are included in the sale, except for any
non-dedicated personal computer, tablet, or phone used to control such features. Buyer acknowledges that a separate device
and access to wifi or internet may be required to operate some smart home features and Buyer may have to obtain such device
after Close Of Escrow. Buyer is advised to change all passwords and ensure the security of any smart home features.
(6) Seller, within the time specified in paragraph 3N(1), shall (i) disclose to
Buyer if any item or system specified in paragraph 3P or 9B or otherwise included in the sale is leased, or not owned by Seller,
or is subject to any maintenance or other ongoing financial obligation, or specifically subject to a lien or other encumbrance or
loan, and (ii) Deliver to Buyer all written materials (such as lease, warranty, financing, etc.) concerning any such item.
(7) Seller represents that all items included in the purchase price, unless Otherwise Agreed, (i) are owned by Seller and shall
be transferred free and clear of liens and encumbrances, except the items and systems identified pursuant to paragraph
and (ii) are transferred without Seller warranty regardless of value. Seller shall cooperate with the identification of any
software or applications and the transfer of any services needed to operate any Smart Home Features or other items included
in this Agreement, including, but not limited to, utilities or security systems.
Unless Otherwise Agreed, the following items are excluded from sale: (i) All items specified
in paragraph 3P(2); (ii) audio and video components (such as flat screen TVs, speakers and other items) if any such item is
not itself attached to the Property, even if a bracket or other mechanism attached to the component or item is attached to the
Property; (iii) furniture and other items secured to the Property for earthquake or safety purposes. Unless Otherwise Agreed
in paragraph 3P(1)
.
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 6 OF 16)
DRAFT
RPA 12/21 (PAGE 7 OF 16)
10
Paragraphs 3Q(1) - (3) only determines who is to pay for the inspection, test,
certificate or service (“Report”) mentioned; it does not determine who is to pay for any work recommended or identified
agreement
(1) Any required installation of smoke alarm or
carbon monoxide device(s) or securing of water heater shall be completed within the time specified in paragraph 3N(4). If
Buyer is to pay for these items, Buyer, as instructed by Escrow Holder, shall deposit funds into escrow or directly to the vendor
completing the repair or installation. Prior to Close Of Escrow, Seller shall Deliver to Buyer written statement(s) of compliance
in accordance with any Law, unless Seller is exempt. If Seller is to pay for these items and does not fulfill Seller's obligation
in the time specified, and Buyer incurs costs to comply with lender requirements concerning those items, Seller shall be
responsible for Buyer’s costs. Buyer may notify Escrow Holder of the costs incurred, provide an invoice, and request Escrow
Holder deduct the amount from Seller’s proceeds and release those funds to Buyer.
(2)
(A) Point of sale inspections, reports and repairs refer to any such actions required to be completed before or after Close Of
Escrow that are required in order to close under any Law. Unless Parties Otherwise Agree to another time period, any
such repair shall be completed prior to final verification of Property. If Buyer agrees to pay for any portion of such repair,
Buyer, shall (i) directly pay to the vendor completing the repair or (ii) provide an invoice to Escrow Holder, deposit funds
into escrow sufficient to pay for Buyer’s portion of such repair and request Escrow Holder pay the vendor completing the
repair.
(B) Buyer shall be provided, within the time specified in paragraph 3N(1), unless Parties Otherwise Agree to another
time period, a Copy of any required government-conducted or point-of-sale inspection report prepared pursuant to this
Agreement or in anticipation of this sale of the Property.
(3) If any repair in paragraph 10B(1) is not completed within the time specified and the lender requires
an additional inspection to be made, Seller shall be responsible for any corresponding reinspection fee. If Buyer incurs costs
to comply with lender requirements concerning those items, Buyer may notify Escrow Holder of the costs incurred and request
Escrow Holder deduct the amount from Seller’s proceeds and release those funds to Buyer.
(4) Buyer and Seller are advised to seek information from a knowledgeable
source regarding local and State mandates and whether they are point of sale requirements or requirements of ownership.
Agents do not have expertise in this area and cannot ascertain all of the requirements or costs of compliance.
(1) Buyer shall choose the coverages within the cost limit specified in paragraph 3Q(18). Buyer shall pay the cost of the home
warranty plan chosen by Buyer that exceeds the amount allocated to Seller in paragraph 3Q(18). Buyer is informed that
home warranty plans have many optional coverages, including but not limited to, coverages for Air Conditioner and Pool/Spa.
Buyer is advised to investigate these coverages to determine those that may be suitable for Buyer.
(2) purchase a home
(1) Seller shall, within the time specified in paragraph 3N(1), Deliver to Buyer: unless exempt, fully completed disclosures or
notices required by §§ 1102 et. seq. and 1103 et. seq. of the Civil Code (“Statutory Disclosures”). Statutory Disclosures include,
but are not limited to, a Real Estate Transfer Disclosure Statement (C.A.R. Form TDS), Natural Hazard Disclosure Statement
("NHD"), notice or actual knowledge of release of illegal controlled substance, notice of special tax and/or assessments (or,
if allowed, substantially equivalent notice regarding the Mello-Roos Community Facilities Act of 1982 and Improvement Bond
Act of 1915) and, if Seller has actual knowledge, of industrial use and military ordnance location (C.A.R. Form SPQ or ESD),
and, if the Property is in a high or very high fire hazard severity area, the information, notices, documentation, and agreements
required by §§ 1102.6(f) and 1102.19 of the Civil Code (C.A.R. Form HHDA).
(2) The Real Estate Transfer Disclosure Statement required by this paragraph is considered fully completed if Seller has completed
the section titled Coordination with Other Disclosure Forms by checking a box (Section I), and Seller has completed and
answered all questions and Signed the Seller’s Information section (Section II) and the Seller’s Agent, if any, has completed
and Signed the Seller’s Agent's section (Section III), or, if applicable, an Agent Visual Inspection Disclosure (C.A.R. Form
AVID). Section V acknowledgment of receipt of a Copy of the TDS shall be Signed after all previous sections, if applicable,
have been completed. Nothing stated herein relieves a Buyer’s Agent, if any, from the obligation to (i) conduct a reasonably
competent and diligent visual inspection of the accessible areas of the Property and disclose, on Section IV of the TDS, or
an AVID, material facts affecting the value or desirability of the Property that were or should have been revealed by such an
inspection or (ii) complete any sections on all disclosures required to be completed by Buyer’s Agent.
(3)
(4) Seller shall, within the time specified in paragraph 3N(1), provide the following “Supplemental Disclosures” as follows:
(i) unless exempt from the obligation to provide a TDS, complete a Seller Property Questionnaire (C.A.R. Form SPQ) by
answering all questions and Signing and Delivering a Copy to Buyer; (ii) if exempt from the obligation to provide a TDS,
complete an Exempt Seller Disclosure (C.A.R. Form ESD) by answering all questions and Signing and Delivering a Copy to
Buyer.
(5) Buyer shall, within the time specified in paragraph 3L(3) OR 5 Days after Delivery of Statutory Disclosures, whichever is
later, return Signed Copies of the Statutory Disclosures to Seller.
(6) In the event Seller or Seller’s Agent, prior to Close Of Escrow, becomes aware of adverse conditions materially affecting
the Property, or any material inaccuracy in disclosures, information or representations previously provided to Buyer under
this paragraph, Seller shall, in writing, promptly provide a subsequent or amended TDS, Seller Property Questionnaire or
other document, in writing, covering those items. Any such document shall be deemed an amendment to the TDS or SPQ.
discovered by Buyer or disclosed in reports or documents provided
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 7 OF 16)
DRAFT
RPA 12/21 (PAGE 8 OF 16)
(7) If any Statutory or Supplemental Disclosure, or subsequent or amended Statutory or Supplemental Disclosure is Delivered to
Buyer after the offer is Signed, Buyer shall have the right to rescind this Agreement within 3 Days after Delivery in person, or
5 Days after Delivery by deposit in the mail, or by an electronic record, or email satisfying the Uniform Electronic Transactions
Act (UETA), by giving written notice of rescission to Seller or Seller’s Authorized Agent. If Buyer does not rescind within this
time period, Buyer is deemed to have approved the new disclosure and shall not have the right to cancel, and a Notice to
Buyer to Perform (C.A.R. Form NBP) shall not be required.
(1) Seller shall, within the time specified in paragraph 3N(1), for any residential property built before January 1, 1978, unless
exempted by Law, Deliver to Buyer a fully completed Federal Lead-Based Paint Disclosures (C.A.R. Form FLD) and pamphlet
(“Lead Disclosures”).
(2)
(3) Buyer shall, for the time specified in paragraph 3L(3), have the opportunity to conduct a risk assessment or to inspect for the
presence of lead-based paint hazards.
(4) Buyer shall, within the time specified in paragraph 3L(3) OR 5 Days after Delivery of Lead Disclosures, whichever is later,
return Signed Copies of the Lead Disclosures to Seller.
(5) If any Lead Disclosure is Delivered to Buyer after the offer is Signed, Buyer shall have the right to rescind this Agreement
by the later of: (i) the time specified in paragraph 3J(3), or (ii) 3 Days after delivery in person, or 5 Days after Delivery by
deposit in the mail, or by an electronic record, or email satisfying the Uniform Electronic Transactions Act (UETA), by giving
written notice of rescission to Seller or Seller’s Authorized Agent. If Buyer does not rescind within this time period, Buyer has
been deemed to have approved the new disclosure and shall not have the right to cancel, and a Notice to Buyer to Perform
(C.A.R. Form NBP) shall not be required.
Seller shall, within the time specified in paragraph 3N(1), if required by Law:
(i) Deliver to Buyer earthquake guides (and questionnaire), which is required for all residential property with 1-4 units and any
manufactured or mobile home built before January 1, 1960, and environmental hazards booklet; and (ii) even if exempt from the
obligation to provide a NHD, disclose if the Property is located in a Special Flood Hazard Area; Potential Flooding (Inundation)
Area; Very High Fire Hazard Zone; State Fire Responsibility Area; Earthquake Fault Zone; Seismic Hazard Zone; and (iii) disclose
any other zone as required by Law and provide any other information required for those zones.
FIRE HARDENING DISCLOSURE Seller shall, within the time specified in paragraph 3N(1), if the
home was constructed before January 1, 2010, Deliver to Buyer: (i) a home hardening disclosure required by law; and (ii) a
statement of features of which the Seller is aware that may make the home vulnerable to wildfire and flying embers; and (iii) if
Seller has obtained one, a final inspection report regarding compliance with defensible space requirements if one was prepared
pursuant to Government Code § 51182 (C.A.R. Form HHDA).
Seller shall, within the time specified in paragraph 3N(1), Deliver to
Buyer (i) a disclosure of whether the Property is in compliance with any applicable defensible space laws designed to protect a
structure on the Property from fire; and (ii) an addendum allocating responsibility for compliance with any such defensible space
law (C.A.R. Form TBD).
F
(1) Seller shall, within the time specified in paragraph 3N(1), disclose to Buyer whether the Property is a condominium or is
located in a planned development, other common interest development, or otherwise subject to covenants, conditions, and
restrictions (C.A.R. Form SPQ or ESD).
(2) If the Property is a condominium or is located in a planned development or other common interest development with a HOA,
Seller shall, within the time specified in paragraph 3N(3), order from, and pay any required fee for the following items to
the HOA (C.A.R. Form HOA-IR): (i) Copies of any documents required by Law (C.A.R. Form HOA-RS); (ii) disclosure of
any pending or anticipated claim or litigation by or against the HOA; (iii) a statement containing the location and number of
designated parking and storage spaces; (iv) Copies of the most recent 12 months of HOA minutes for regular and special
meetings; (v) the names and contact information of all HOAs governing the Property; (vi) pet restrictions; and (vii) smoking
restrictions (“CI Disclosures”). Seller shall itemize and Deliver to Buyer all CI Disclosures received from the HOA and any CI
Disclosures in Seller’s possession. Seller shall, as directed by Escrow Holder, deposit funds into escrow or direct to HOA or
management company to pay for any of the above.
G Buyer and Seller hereby instruct Escrow Holder to withhold the applicable required amounts to comply
with federal and California withholding Laws and forward such amounts to the Internal Revenue Service and Franchise Tax Board,
respectively. However, no federal withholding is required if, prior to Close Of Escrow, Seller Delivers (i) to Buyer and Escrow
Holder a fully completed affidavit (C.A.R. Form AS) sufficient to avoid withholding pursuant to federal withholding Law (FIRPTA);
(ii) to a qualified substitute (usually a title company or an independent escrow company) a fully completed affidavit (C.A.R.
Form AS) sufficient to avoid withholding pursuant to federal withholding Law AND the qualified substitute Delivers to Buyer and
Escrow Holder an affidavit signed under penalty of perjury (C.A.R. Form QS) that the qualified substitute has a received the fully
completed Seller’s affidavit and the Seller states that no federal withholding is required; or (iii) to Buyer other documentation
satisfying the requirements under Internal Revenue Code § 1445 (FIRPTA). No withholding is required under California Law if,
prior to Close Of Escrow, Escrow Holder has received sufficient documentation from Seller that no withholding is required, and
Buyer has been informed by Escrow Holder.
H Notice: Pursuant to § 290.46 of the Penal Code, information about specified
registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at
. Depending on an offender’s criminal history, this information will include either the address at which the
offender resides or the community of residence and ZIP Code in which he or she resides. (Neither Seller nor Agent are required to
check this website. If Buyer wants further information, Agent recommends that Buyer obtain information from this website during
Buyer’s investigation contingency period. Agents do not have expertise in this area.)
I This notice is being provided simply
to inform you that information about the general location of gas and hazardous liquid transmission pipelines is available to the
public via the National Pipeline Mapping System (NPMS) Internet Web site maintained by the United States Department of
Transportation at . To seek further information about possible transmission pipelines near the
Property, you may contact your local gas utility or other pipeline operators in the area. Contact information for pipeline operators is
searchable by ZIP Code and county on the NPMS Internet Website. (Neither Seller nor Agent are required to check this website.
If Buyer wants further information, Agent recommends that Buyer obtain information from this website during Buyer’s investigation
contingency period. Agents do not have expertise in this area.)
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 8 OF 16)
DRAFT
RPA 12/21 (PAGE 9 OF 16)
Seller shall, within the time specified in paragraph 3N(1), DISCLOSE KNOWN MATERIAL FACTS
AND DEFECTS affecting the Property, including, but not limited to, known insurance claims within the past five years, or provide
Buyer with permission to contact lender to get such information (C.A.R. Form ARC), and make any and all other disclosures
required by Law.
Buyer shall, within the time specified in paragraph 3L(3), have the right, at Buyer’s expense unless Otherwise Agreed, to conduct
inspections, investigations, tests, surveys and other studies (“Buyer Investigations”).
Buyer Investigations include, but are not limited to:
(1) Inspections regarding any physical attributes of the Property or items connected to the Property, such as:
(A) A general home inspection.
(B) An inspection for lead-based paint and other lead-based paint hazards.
(C) An inspection specifically for wood destroying pests and organisms. Any inspection for wood destroying pests and
organisms shall be prepared by a registered Structural Pest Control company; shall cover the main building and attached
structures; may cover detached structures; shall NOT include water tests of shower pans on upper level units unless
the owners of property below the shower consent; shall NOT include roof coverings; and, if the Property is a unit in
a condominium or other common interest subdivision, the inspection shall include only the separate interest and any
exclusive-use areas being transferred, and shall NOT include common areas; and shall include a report (“Pest Control
Report”) showing the findings of the company which shall be separated into sections for evident infestation or infections
(Section 1) and for conditions likely to lead to infestation or infection (Section 2).
(D) Any other specific inspections of the physical condition of the land and improvements.
(2) All other Buyer Investigations not specified above. See, for example, Buyer’s Inspection Advisory (C.A.R. Form BIA).
(3) A review of reports, disclosures or information prepared by or for Seller and Delivered to Buyer pursuant to paragraphs 3, 10,
11, and 14A.
Without Seller’s prior written consent, Buyer shall neither make nor cause to be made: (i) invasive or destructive Buyer
Investigations, except for minimally invasive testing required to prepare a Pest Control Report, which shall not include any holes
or drilling though stucco or similar material; or (ii) inspections by any governmental building or zoning inspector or government
employee, unless required by Law.
Seller shall make the Property available for all Buyer Investigations. Seller is not obligated to move any existing personal property.
Seller shall have water, gas, electricity and all operable pilot lights on for Buyer’s Investigations and through the date possession
is delivered to Buyer. Buyer shall (i) as specified in paragraph 3L(3) complete Buyer Investigations and satisfy themselves as
to the condition of the Property, and either remove the contingency or cancel this Agreement, and (ii) by the time specified in
paragraph 3L(3) or 3 Days after receipt of any Investigation report, whichever is later, give Seller at no cost, complete Copies of
all such reports obtained by Buyer, which obligation shall survive the termination of this Agreement. This Delivery of Investigation
reports shall not include any appraisal.
Buyer shall: (i) keep the Property free and clear of liens;
(ii) repair all damage arising from Buyer Investigations; and (iii) indemnify and hold Seller harmless from all resulting liability,
claims, demands, damages and costs. Buyer shall carry, or Buyer shall require anyone acting on Buyer’s behalf to carry, policies
of liability, workers’ compensation and other applicable insurance, defending and protecting Seller from liability for any injuries to
persons or property occurring during any Buyer Investigations or work done on the Property at Buyer’s direction prior to Close Of
Escrow. Seller is advised that certain protections may be afforded Seller by recording a “Notice of Non-Responsibility” (C.A.R.
Form NNR) for Buyer Investigations and work done on the Property at Buyer’s direction. Buyer’s obligations under this paragraph
shall survive the termination of this Agreement. This delivery of Investigation reports shall not include any appraisal, except an
appraisal received in connection with an FHA or VA loan.
Buyer shall, within the time specified in be provided a current Preliminary Report by the person responsible
for paying for the title report in paragraph 3Q(8). If Buyer is responsible for paying, Buyer shall act diligently and in good faith
to obtain such Preliminary Report within the time specified. The Preliminary Report is only an offer by the title insurer to issue a
policy of title insurance and may not contain every item affecting title. The company providing the Preliminary Report shall, prior
to issuing a Preliminary Report, conduct a search of the General Index for all Sellers except banks or other institutional lenders
selling properties they acquired through foreclosure (REOs), corporations, and government entities.
Title is taken in its present condition subject to all encumbrances, easements, covenants, conditions, restrictions, rights and other
matters, whether of record or not, as of the date of Acceptance except for: (i) monetary liens of record unless Buyer is assuming
those obligations or taking the Property subject to those obligations; and (ii) those matters which Seller has agreed to remove in
writing. For any lien or matter not being transferred upon sale, Seller will take necessary action to deliver title free and clear of such
lien or matter.
Seller shall within 7 Days after request, give Escrow Holder necessary information to clear title.
Seller shall, within the time specified in paragraph 3N(1), disclose to Buyer all matters known to Seller affecting title, whether of
record or not.
If Buyer is a legal entity and the Property purchase price Is at least $300,000 and the purchase price is made without a bank loan
or similar form of external financing, a Geographic Targeting Order (GTO) issued by the Financial Crimes Enforcement Network,
U.S. Department of the Treasury, requires title companies to collect and report certain information about the Buyer, depending on
where the Property is located. Buyer agrees to cooperate with the title company effort to comply with the GTO.
Buyer shall receive a “Homeowner’s Policy of Title Insurance” or equivalent policy of title insurance, if applicable to the type of
property and buyer. Escrow Holder shall request this policy. If a Homeowner’s Policy of Title Insurance is not offered, Buyer
shall receive a CLTA Standard Coverage policy unless Buyer has chosen another policy and instructed Escrow Holder in writing
of the policy chosen and agreed to pay any increase in cost. Buyer should consult with the Title Company about the availability,
and difference in coverage, and cost, if any, between a Homeowner’s Policy and a CLTA Standard Coverage policy and other
title policies and endorsements. Buyer should receive notice from the Title Company on its Preliminary (Title) Report of the type
of coverage offered. If Buyer is not notified on the Preliminary (Title) Report or is not satisfied with the policy offered, and Buyer
nonetheless removes the contingency for Review of the Preliminary Report, Buyer will receive the policy as specified in this
paragraph.
The following time periods may only be
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 9 OF 16)
DRAFT
RPA 12/21 (PAGE 10 OF 16)
Seller shall, within the time specified in paragraph 3N(1), Deliver to Buyer all Reports,
disclosures and information for which Seller is responsible as specified in EF
.
(1) Buyer has the time specified in paragraph 3 to: (i) perform Buyer Investigations; review all disclosures, reports, lease
documents to be assumed by Buyer pursuant to paragraph 9B(6), and other applicable information, which Buyer receives
from Seller; and approve all matters affecting the Property; and (ii) Deliver to Seller Signed Copies of Statutory and Lead
Disclosures and other disclosures Delivered by Seller in accordance with paragraphs 11A and 11B.
(2) Buyer may, within the time specified in paragraph 3L(3), request that Seller make repairs or take any other action regarding
the Property (C.A.R. Form RR). Seller has no obligation to agree to or respond to Buyer’s requests (C.A.R. Form RR or
RRRR). If Seller does not agree or does not respond, Buyer is not contractually entitled to have the repairs or other requests
made and may only cancel based on contingencies in this Agreement.
(3) Buyer shall, by the end of the times specified in paragraph 3L (or as Otherwise Agreed), Deliver to Seller a removal of the
applicable contingency or cancellation (C.A.R. Form CR or CC) of this Agreement. However, if any report, disclosure, or
information for which Seller is responsible, other than those in paragraphs 11A or 11B, is not Delivered within the time
specified in paragraph 3N(1), then Buyer has 5 Days after Delivery of any such items, or the times specified in paragraph
3L, whichever is later, to Deliver to Seller a removal of the applicable contingency or cancellation of this Agreement. Late
Delivery of any report, disclosure, or information does not create a contractual contingency right to cancel if there is not
an existing contingency on the date of Delivery pertaining to that report, disclosure or information. This does not alter any
termination rights under paragraph 11A or 11B.
(4) Even after the end of the time specified in paragraph 3L and before Seller cancels, if at all,
pursuant to paragraph 14C, Buyer retains the right, in writing, to either (i) remove remaining contingencies, or (ii) cancel this
Agreement based on a remaining contingency. Once Buyer’s written removal of all contingencies is Delivered to Seller, Seller
may not cancel this Agreement pursuant to paragraph 14C(1).
(1) If, by the time specified in this Agreement, Buyer does not Deliver
to Seller a removal of the applicable contingency or cancellation of this Agreement, then Seller, after first Delivering to Buyer
a Notice to Buyer to Perform (C.A.R. Form NBP), may cancel this Agreement. In such event, Seller shall authorize the return
of Buyer’s deposit, except for fees incurred by Buyer.
(2) Seller, after first Delivering to Buyer a Notice to Buyer
to Perform, may cancel this Agreement if, by the time specified in this Agreement, Buyer does not take the following action(s):
(i) Deposit funds as required by paragraph 3D(1) or 3D(2) or if the funds deposited pursuant to paragraph 3D(1) or 3D(2)
are not good when deposited; (ii) Deliver updated contact information for Buyer’s lender(s) as required by paragraph 5C(3);
(iii) Deliver a notice of FHA or VA costs or terms, if any, as specified by paragraph 5C(4) (C.A.R. Form RR); (iv) Deliver
verification, or a satisfactory verification if Seller reasonably disapproves of the verification already provided, as required
by paragraph 5B or 6A; (v) Deliver a letter as required by paragraph 6B; (vi) In writing assume or accept leases or liens
specified in paragraph 8G; (vii) Return Statutory and Lead Disclosures as required by paragraphs 11A and 11B; or (viii)
Cooperate with the title company effort to comply with the GTO as required by paragraph 13E; (ix) Sign or initial a separate
liquidated damages form for an increased deposit as required by paragraph 29; (x) Provide evidence of authority to Sign in
a representative capacity as specified in paragraph 28; or (xi) Perform any additional Buyer contractual obligation included
in this Agreement. In such event, Seller shall authorize the return of Buyer’s deposit, except for fees allocated to Seller in this
Agreement and already paid by Escrow prior to cancellation of this Agreement and notification to Escrow.
(3) SELLER RIGHT TO CANCEL; SELLER CONTINGENCIESSeller may cancel this Agreement by good faith exercise of
any Seller contingency included in this Agreement, or Otherwise Agreed, so long as that contingency has not already been
removed or waived in writing.
(1) If, by the time specified in this Agreement, Seller does not Deliver
to Buyer a removal of the applicable contingency or cancellation of this Agreement, then Buyer, after first Delivering to Seller
a Notice to Seller to Perform (C.A.R. Form NSP), may cancel this Agreement. In such event, Seller shall authorize the return
of Buyer’s deposit, except for fees allocated to Seller in the Agreement and already paid by Escrow prior to cancellation of this
Agreement and notification to Escrow.
(2) If, by the time specified, Seller has not Delivered any
item specified in paragraph 3N(1) or Seller has not performed any Seller contractual obligation included in this Agreement
by the time specified, Buyer, after first Delivering to Seller a Notice to Seller to Perform, may cancel this Agreement.
(3) Buyer may cancel this Agreement by good faith exercise of any
Buyer contingency included in paragraph 8, or Otherwise Agreed, so long as that contingency has not already been removed
in writing.
The Notice to Buyer to Perform or Notice to Seller to Perform shall: (i) be in
writing; (ii) be Signed by the applicable Buyer or Seller; and (iii) give the other Party at least 2 Days after Delivery (or until the time
specified in the applicable paragraph, whichever occurs last) to take the applicable action. A Notice to Buyer to Perform or Notice
to Seller to Perform may not be Delivered any earlier than 2 Days prior to the expiration of the applicable time for the other Party
to remove a contingency or cancel this Agreement or meet an obligation specified in paragraph 14, whether or not the Scheduled
Performance Day falls on a Saturday, Sunday or legal holiday. If a Notice to Buyer to Perform or Notice to Seller to Perform is
incorrectly Delivered or specifies a time less than the above time frame, the notice shall be deemed invalid and void. Seller or
Buyer shall be required to Deliver a new Notice to Buyer to Perform or Notice to Seller to Perform with the specified timeframe.
(1) If Buyer removes, in writing, any contingency or cancellation rights, unless
Otherwise Agreed in writing, Buyer shall conclusively be deemed to have: (i) completed all Buyer Investigations, and review
of reports and other applicable information and disclosures pertaining to that contingency or cancellation right; (ii) elected
to proceed with the transaction; and (iii) assumed all liability, responsibility and expense for the non-delivery of any reports,
disclosures or information outside of Seller’s control and for any Repairs or corrections pertaining to that contingency or
cancellation right, not Otherwise Agreed, or for the inability to obtain financing.
(2) If Seller removes, in writing, any contingency or cancellation rights, unless
Otherwise Agreed in writing, Seller shall conclusively be deemed to have: (i) satisfied themselves regarding such contingency,
(ii) elected to proceed with the transaction; and (iii) given up any right to cancel this Agreement based on such contingency.
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 10 OF 16)
DRAFT
RPA 12/21 (PAGE 11 OF 16)
Before Buyer or Seller may cancel this Agreement for failure of the other Party to close escrow
pursuant to this Agreement, Buyer or Seller must first Deliver to the other Party a Demand to Close Escrow (C.A.R. Form DCE).
The DCE shall: (i) be Signed by the applicable Buyer or Seller; and (ii) give the other Party at least 3 Days after Delivery to
close escrow. A DCE may not be Delivered any earlier than 3 Days prior to the scheduled Close Of Escrow, whether or not the
Scheduled Performance Day falls on a Saturday, Sunday or legal holiday. If a DCE is incorrectly Delivered or specifies a time less
than the above time frame, the DCE shall be deemed invalid and void. Seller or Buyer shall be required to Deliver a new DCE with
the appropriate time frame.
If Buyer or Seller gives written notice of cancellation pursuant to rights duly
exercised under the terms of this Agreement, the Parties agree to Sign and Deliver mutual instructions to cancel the sale and
escrow and release deposits, if any, to the Party entitled to the funds, less (i) fees and costs paid by Escrow Holder on behalf
of that Party, if required by this Agreement; and (ii) any escrow cancellation fee charged to that party. Fees and costs may be
payable to service providers and vendors for services and products provided during escrow. A release of funds will require
which
Party
whether either Party has acted in good faith or which Party
advised to seek the advice of a qualified California
Repairs shall be completed prior to final verification of condition unless Otherwise Agreed. Repairs to be performed at
Seller’s expense may be performed by Seller or through others, provided that the work complies with applicable Law, including
governmental permit, inspection and approval requirements. Repairs shall be performed in a good, skillful manner with materials
of quality and appearance comparable to existing materials. Buyer acknowledges that exact restoration of appearance or cosmetic
items following all Repairs may not be possible. Seller shall: (i) obtain invoices and paid receipts for Repairs performed by others;
(ii) prepare a written statement indicating the Repairs performed by Seller and the date of such Repairs; and (iii) provide Copies of
invoices and paid receipts and statements to Buyer prior to final verification of condition.
Buyer shall have the right to make a final verification of the Property condition within the time
specified in paragraph 3J, NOT AS A CONTINGENCY OF THE SALE, but solely to confirm: (i) the Property is maintained pursuant
to paragraph 7B; (ii) Repairs have been completed as agreed; and (iii) Seller has complied with Seller’s other obligations under this
Agreement (C.A.R. Form VP).
Unless Otherwise Agreed, the following items shall be PAID CURRENT
and prorated between Buyer and Seller as of Close Of Escrow: real property taxes and assessments, interest, Seller rental payments,
HOA regular assessments due prior to Close Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and
assessments assumed by Buyer, and payments on Mello-Roos and other Special Assessment District bonds and assessments that
are now a lien. Seller shall pay any HOA special or emergency assessments due prior to Close Of Escrow. The following items shall be
assumed by Buyer WITHOUT CREDIT toward the purchase price: prorated payments on Mello-Roos and other Special Assessment
District bonds and assessments and HOA special or emergency assessments that are due after Close Of Escrow. Property will be
reassessed upon change of ownership. Any supplemental tax bills delivered to Escrow Holder prior to closing shall be prorated and
paid as follows: (i) for periods after Close Of Escrow, by Buyer; and (ii) for periods prior to Close Of Escrow, by Seller (see C.A.R.
Form SPT or SBSA for further information). Seller agrees all service fees, maintenance costs and utility bills will be paid current up and
through the date of Close Of Escrow. TAX BILLS AND UTILITY BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED
DIRECTLY BETWEEN BUYER AND SELLER. Prorations shall be made based on a 30-day month.
Seller or Buyer, or both, as applicable, agree to pay compensation to Broker as specified in a separate written
agreement between Broker and that Seller or Buyer. Compensation is payable upon Close Of Escrow, or if escrow does not close,
as otherwise specified in the agreement between Broker and that Seller or Buyer. If there is no separate written agreement for
compensation between a Seller or Buyer and that principal’s broker and Buyer or Seller wants to know how much the principal’s
broker is being paid in the transaction the applicable Seller or Buyer is advised to ask, in writing, its broker.
Buyer and Seller acknowledge and agree that Agent: (i) Does not decide what price Buyer should pay or
Seller should accept; (ii) Does not guarantee the condition of the Property; (iii) Does not guarantee the performance, adequacy or
completeness of inspections, services, products or repairs provided or made by Seller or others; (iv) Does not have an obligation
to conduct an inspection of common areas or areas off the site of the Property; (v) Shall not be responsible for identifying defects
on the Property, in common areas, or offsite unless such defects are visually observable by an inspection of reasonably accessible
areas of the Property or are known to Agent; (vi) Shall not be responsible for inspecting public records or permits concerning the
title or use of Property; (vii) Shall not be responsible for identifying the location of boundary lines or other items affecting title; (viii)
Shall not be responsible for verifying square footage, representations of others or information contained in Investigation reports,
Multiple Listing Service, advertisements, flyers or other promotional material; (ix) Shall not be responsible for determining the fair
market value of the Property or any personal property included in the sale; (x) Shall not be responsible for providing legal or tax
advice regarding any aspect of a transaction entered into by Buyer or Seller; and (xi) Shall not be responsible for providing other
advice or information that exceeds the knowledge, education and experience required to perform real estate licensed activity.
Buyer and Seller agree to seek legal, tax, insurance, title and other desired assistance from appropriate professionals.
which Escrow Holder is to use along with any related counter offers and addenda, and
any additional mutual instructions to close the escrow: paragraphs 1,3N(3),,,
, 11G, 13 (except 13D), 14H, 17, 18A, 19, 23, 25,, and paragraph 3 of the Real Estate
The terms and conditions of this Agreement not set forth in the specified paragraphs are additional matters for
the information of Escrow Holder, but about which Escrow Holder need not be concerned.
Buyer and Seller will receive Escrow Holder’s general provisions, if any, directly from Escrow Holder. To the extent the general
provisions are inconsistent or conflict with this Agreement, the general provisions will control as to the duties and obligations of
Escrow Holder only. Buyer and Seller shall Sign and return Escrow Holder’s general provisions or supplemental instructions within
the time specified in paragraph 3L(2). Buyer and Seller will execute additional instructions, documents and forms provided by
Escrow Holder that are reasonably necessary to close the escrow and, as directed by Escrow Holder, within 3 Days, shall pay to
Escrow Holder or HOA or HOA management company or others any fee required by , 10, 11, or elsewhere in this
Agreement.
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 11 OF 16)
DRAFT
RPA 12/21 (PAGE 12 OF 16)
A Copy of this Agreement including any counter offer(s) and addenda shall be delivered to Escrow Holder within 3 Days after
Acceptance. Buyer and Seller authorize Escrow Holder to accept and rely on Copies and Signatures as defined in this Agreement
as originals, to open escrow and for other purposes of escrow. The validity of this Agreement as between Buyer and Seller
is not affected by whether or when Escrow Holder Signs this Agreement. Escrow Holder shall provide Seller’s Statement of
Information to Title Company when received from Seller, if a separate company is providing title insurance. If Seller delivers
an affidavit to Escrow Holder to satisfy Seller’s FIRPTA obligation under paragraph 11D, Escrow Holder shall deliver to Buyer,
Buyer’s Agent, and Seller’s Agent a Qualified Substitute statement that complies with federal Law. If Escrow Holder’s Qualified
Substitute statement does not comply with federal law, the Parties instruct escrow to withhold all applicable required amounts
under paragraph 11D.
Agents are not a party to the escrow except for the sole purpose of receiving compensation pursuant to paragraph 18A and
paragraph 3 of the Real Estate Brokers Section. If a Copy of the separate compensation agreement(s) provided for in either
of those paragraphs is deposited with Escrow Holder by Agent, Escrow Holder shall accept such agreement(s) and pay out from
Buyer’s or Seller’s funds, or both, as applicable, the Broker’s compensation provided for in such agreement(s).Buyer and Seller
irrevocably assign to Brokers compensation specified in paragraph 18A, and irrevocably instruct Escrow Holder to disburse
those funds to Brokers at Close Of Escrow or pursuant to any other mutually executed cancellation agreement. Compensation
instructions can be amended or revoked only with the written consent of Brokers. Buyer and Seller shall release and hold harmless
Escrow Holder from any liability resulting from Escrow Holder’s payment to Broker(s) of compensation pursuant to this Agreement.
Upon receipt, Escrow Holder shall provide Buyer, Seller, and each Agent verification of Buyer’s deposit of funds pursuant to
paragraph 5A(1) and 5A(2). Once Escrow Holder becomes aware of any of the following, Escrow Holder shall immediately
notify each Agent: (i) if Buyer’s initial or any additional deposit or down payment is not made pursuant to this Agreement, or is not
good at time of deposit with Escrow Holder; or (ii) if Buyer and Seller instruct Escrow Holder to cancel escrow.
A Copy of any amendment that affects any paragraph of this Agreement for which Escrow Holder is responsible shall be delivered
to Escrow Holder within 3 Days after mutual execution of the amendment.
Agents do not guarantee the performance of any vendors, service or product providers
(“Providers”), whether referred by Agent or selected by Buyer, Seller or other person. Buyer and Seller may select ANY Providers of
their own choosing.
Agents are authorized to report to the MLS that an offer has been accepted and, upon
Close Of Escrow, the sales price and other terms of this transaction shall be provided to the MLS to be published and disseminated
to persons and entities authorized to use the information on terms approved by the MLS. Buyer acknowledges that: (i) any pictures,
videos, floor plans (collectively, “Images”) or other information about the Property that has been or will be inputted into the MLS, at the
instruction of Seller or in compliance with MLS rules, will not be removed after Close Of Escrow; (ii) Seller and Seller’s Agent have no
obligation or ability to remove such Images or information; and (iii) the MLS is required to maintain such Images and information and
as a result they may be displayed or circulated on the internet.
In any action, proceeding, or arbitration between Buyer and Seller arising out of this Agreement,
the prevailing Buyer or Seller shall be entitled to reasonable attorney fees and costs from the non-prevailing Buyer or Seller, except as
provided in paragraph 31A.
Buyer shall have the right to assign all of Buyer’s interest in this Agreement to Buyer’s own trust or to any wholly owned
entity of Buyer that is in existence at the time of such assignment. Otherwise, Buyer shall not assign all or any part of Buyer’s interest
in this Agreement without first having obtained the separate written consent of Seller to a specified assignee. Such consent shall not
be unreasonably withheld. Prior to any assignment, Buyer shall disclose to Seller the name of the assignee and the amount of any
monetary consideration between Buyer and assignee. Buyer shall provide assignee with all documents related to this Agreement
including, but not limited to, the Agreement and any disclosures. If assignee is a wholly owned entity or trust of Buyer, that assignee
does not need to re-sign all documents provided. Buyer shall, within the time specified in paragraph 3K, Deliver any request to assign
this Agreement for Seller’s consent. If Buyer fails to provide the required information within this time frame, Seller’s withholding of
consent shall be deemed reasonable. Any total or partial assignment shall not relieve Buyer of Buyer’s obligations pursuant to this
Agreement unless Otherwise Agreed by Seller (C.A.R. Form AOAA).
The Property is sold in compliance with federal, state and local anti-discrimination Laws.
The following words are defined terms in this Agreement, shall be indicated by initial capital
letters throughout this Agreement, and have the following meaning whenever used:
means the time the offer or final counter offer is fully executed, in writing, by the recipient Party and is Delivered to
the offering Party or that Party’s Authorized Agent.
means the Broker, salesperson, broker-associate or any other real estate licensee licensed under the brokerage firm
identified in the Confirmation of Agency paragraph.
means this document and any counter offers and any incorporated addenda or amendments, collectively forming
the binding agreement between the Parties. Addenda and amendments are incorporated only when Signed and Delivered by all
Parties.
means that Seller shall make full disclosure of known material facts and defects as of the date of Acceptance and perform
only those repairs specified in this Agreement, and Buyer shall have the right to inspect the Property and exercise any contingency
cancellation specified in this Agreement.
means an individual real estate licensee specified in the Real Estate Broker Section.
means the most current version of the specific form referenced or another comparable form agreed to by the
Parties.
including “COE”, means the date the grant deed, or other evidence of transfer of title, is recorded for any real
property, or the date of Delivery of a document evidencing the transfer of title for any non-real property transaction
means copy by any means including photocopy, facsimile and electronic.
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 12 OF 16)
Seller’s Initials _________/__________
Buyer’s Initials _________/__________
DRAFT
is done as follows unless Otherwise Agreed: (1) The first Day after an event is the first full calendar date following
the event, and ending at 11:59 pm. For example, if a Notice to Buyer to Perform (C.A.R. form NBP) is Delivered at 3 pm on the
7th calendar day of the month, or Acceptance of a counter offer is personally received at 12 noon on the 7th calendar day of
the month, then the 7th is Day “0” for purposes of counting days to respond to the NBP or calculating the Close Of Escrow date
or contingency removal dates and the 8th of the month is Day 1 for those same purposes. (2) All calendar days are counted in
establishing the first Day after an event. (3) All calendar days are counted in determining the date upon which performance must
be completed, ending at 11:59 pm on the last day for performance. (4) After Acceptance, if the last day for performance of any act
required by this Agreement, including Close Of Escrow, (“Scheduled Performance Day”) lands on a Saturday, Sunday, or legal
holiday, the performing party shall be allowed to perform on the next day that is not a Saturday, Sunday or legal holiday (“Allowable
Performance Day”), and ending at 11:59 pm. (5) For the purposes of COE, any day that the Recorder’s office in the County where
the Property is located is closed, the COE shall occur on the next day the Recorder’s office in that County is open. (6) COE is
considered Day 0 for purposes of counting days Seller is allowed to remain in possession, if permitted by this Agreement.
or "means calendar day or days. However, delivery of deposit to escrow is based on business days.
of documents, unless Otherwise Agreed, means and shall be effective upon personal
receipt of the document by Buyer or Seller or their Authorized Agent. Personal receipt means (i) a Copy of the document is in the
possession of the Party or Authorized Agent, regardless of the Delivery method used (i.e. e-mail, text, other), or (ii) an electronic
Copy of the document has been sent to the designated electronic delivery address specified in the Real Estate Broker Section on
the page for Broker and Escrow signatures. After Acceptance, Agent may change the designated electronic delivery address for
that Agent by, in writing, Delivering notice of the change in designated electronic delivery address to the other Party.
means, as applicable, an electronic copy or signature complying with California
Law. Buyer and Seller agree that electronic means will not be used by either Party to modify or alter the content or integrity of this
Agreement without the knowledge and consent of the other Party.
means any law, code, statute, ordinance, regulation, rule or order, which is adopted by a controlling city, county, state or
federal legislative, judicial or executive body or agency.
means an individual who has authority to Sign for the principal as specified in paragraph 32 or
means any repairs (including pest control), alterations, replacements, modifications or retrofitting of the Property
provided for under this Agreement.
means either a handwritten or Electronic Signature on an original document, Copy or any counterpart.
This is an offer to purchase the Property on the terms and conditions herein. The individual
Liquidated Damages and Arbitration of Disputes paragraphs are incorporated in this Agreement if initialed by all Parties or if incorporated
by mutual agreement in a counter offer or addendum.
agreement is reached. Seller has the right to continue to offer the Property for sale and to accept any other offer at any time prior to
notification of Acceptance and to market the Property for backup offers after Acceptance. The Parties have read and acknowledge
receipt of a Copy of the offer and agree to the confirmation of agency relationships. If this offer is accepted and Buyer subsequently
defaults, Buyer may be responsible for payment of Brokers’ compensation. This Agreement and any supplement, addendum or
modification, including any Copy, may be Signed in two or more counterparts, all of which shall constitute one and the same writing.
By signing this offer or any document in the transaction, the Party Signing the document is deemed to have read the document in its
entirety.
Time is of the essence. All understandings between the Parties are
incorporated in this Agreement. Its terms are intended by the Parties as a final, complete and exclusive expression of their Agreement
with respect to its subject matter and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement.
If any provision of this Agreement is held to be ineffective or invalid, the remaining provisions will nevertheless be given full force and
effect. Except as otherwise specified, this Agreement shall be interpreted, and disputes shall be resolved in accordance with the Laws
of the State of California.
.
Wherever the signature or initials of the Legally Authorized Signer identified in paragraph 32 or
33 appear on this Agreement or any related documents, it shall be deemed to be in a representative capacity for the entity described
and not in an individual capacity, unless otherwise indicated. The Legally Authorized Signer (i) represents that the entity for which that
person is acting already exists and is in good standing to do business in California and (ii) shall Deliver to the other Party and Escrow
Holder, within 3 Days after Acceptance, evidence of authority to act in that capacity (such as but not limited to: applicable portion of
the trust or Certification Of Trust (Probate Code §18100.5), letters testamentary, court order, power of attorney, corporate resolution,
or formation documents of the business entity).
SHALL SIGN A SEPARATE LIQUIDATED DAMAGES PROVISION INCORPORATING THE INCREASED DEPOSIT
Buyer’s Initials _______/_______ Seller’s Initials_______/_______
RPA 12/21 (PAGE 13 OF 16)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 13 OF 16)
DRAFT
RPA 12/21 (PAGE 14 OF 16)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 14 OF 16)
30
The Parties agree to mediate any dispute or claim arising between them out of this Agreement, or any resulting transaction, before
resorting to arbitration or court action. The mediation shall be conducted through the C.A.R. Real Estate Mediation Center for
Consumers or through any other mediation provider or service mutually agreed to by the Parties.
The Parties
. Mediation fees, if any, shall be divided
equally among the Parties involved, and shall be recoverable under the prevailing party attorney fees clause. If, for any dispute
or claim to which this paragraph applies, any Party (i) commences an action without first attempting to resolve the matter through
mediation, or (ii) before commencement of an action, refuses to mediate after a request has been made, then that Party shall not
be entitled to recover attorney fees, even if they would otherwise be available to that Party in any such action. THIS MEDIATION
PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED.
1B; (ii) The
obligation to mediate does not preclude the right of either Party to seek a preservation of rights under paragraph 31C;
and (iii) Agent's rights and obligations are further specified in paragraph 31
31
The Parties agree that any dispute or claim in Law or equity arising between them out of this Agreement or any
discovery in accordance with Code of Civil Procedure §
defined in Civil Code §
Buyer’s Initials _______/_______ Seller’s Initials_______/_______
OFFER
This offer shall be deemed revoked and the deposit, if any, shall be returned to Buyer unless by the
date and time specified in paragraph 3C, the offer is Signed by Seller and a Copy of the Signed offer is delivered to Buyer, Buyer's
“Authorized Agent”, or ____________________________________, who is authorized to receive it. Seller has no obligation
n
(1) One or more Buyers is a trust, corporation, LLC, probate estate, partnership, holding a power of attorney or
n Other: ________________________________________________________________________________________.
(2) This Agreement is being Signed by a Legally Authorized Signer in a representative capacity and not for him/herself as an
individual. See paragraph 28 for additional terms.
(3) The name(s) of the Legally Authorized Signer(s) is/are: _____________________________________________________.
(4) If a trust, identify Buyer as trustee(s) of the trust or by simplified trust name (ex. John Doe, co-trustee, Jane Doe, co-trustee
or Doe Revocable Family Trust). If the entity is a trust or under probate, the following is the full name of the trust or probate
case, including case #: ______________________________________________________________________________
________________________________________________________________________________________________.
________________________________________________________________________ _____________
(Signature) By, ________________________________________________ Title, if applicable, ________________________________
________________________________________________________________________ _____________
(Signature) By, ________________________________________________ Title, if applicable, ________________________________
n IF MORE THAN TWO SIGNERS, USE Additional Signature Addendum (C.A.R. Form ASA).
ACCEPTANCE
Seller warrants that Seller is the owner of the Property or has the authority to execute this Agreement.
Seller accepts the above offer and agrees to sell the Property on the above terms and conditions. Seller has read and acknowledges
receipt of a Copy of this Agreement and authorizes Agent to Deliver a Signed Copy to Buyer.
n (If checked) (C.A.R. Form SCO or SMCO) or Back Up Offer
Addendum (C.A.R. Form BUO) dated: ____________. Seller shall return and include the entire agreement with any response.
n
(1) One or more Sellers is a trust, corporation, LLC, probate estate, partnership, holding a power of attorney or n Other
________________________________________________________________________________________________.
(2) This Agreement is being Signed by a Legally Authorized Signer in a representative capacity and not for him/herself as an
individual. See paragraph 28 for additional terms.
(3) The name(s) of the Legally Authorized Signer(s) is/are: ____________________________,_________________________.
(4) If a trust, identify Seller as trustee(s) of the trust or by simplified trust name (ex. John Doe, co-trustee, Jane Doe, co-trustee
or Doe Revocable Family Trust). If the entity is a trust or under probate, the following is the full name of the trust or probate
case, including case #: ______________________________________________________________________________
________________________________________________________________________________________________.
_______________________________________________________________________ _____________
(Signature) By, ________________________________________________ Title, if applicable, ________________________________
_______________________________________________________________________ _____________
(Signature) By, ________________________________________________ Title, if applicable, ________________________________
n IF MORE THAN TWO SIGNERS, USE Additional Signature Addendum (C.A.R. Form ASA).
(_______)(_______) No counteroffer is being made. This offer was not accepted by Seller ___________(date)
Seller’s Initials
RPA 12/21 (PAGE 15 OF 16)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 15 OF 16)
DRAFT
© 2021, California Association of REALTORS®, Inc. United States copyright law (Title 17 U.S. Code) forbids the unauthorized distribution, display and reproduction of
this form, or any portion thereof, by photocopy machine or any other means, including facsimile or computerized formats. THIS FORM HAS BEEN APPROVED BY THE
CALIFORNIA ASSOCIATION OF REALTORS®. NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ACCURACY OF ANY PROVISION IN ANY SPECIFIC
TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE,
CONSULT AN APPROPRIATE PROFESSIONAL.This form is made available to real estate professionals through an agreement with or purchase from the California Association
of REALTORS®. It is not intended to identify the user as a REALTOR®. REALTOR® is a registered collective membership mark which may be used only by members of the
NATIONAL ASSOCIATION OF REALTORS® who subscribe to its Code of Ethics.
Seller’s Initials _________/__________Buyer’s Initials _________/__________
Seller's Broker agrees to pay Buyer's Broker and Buyer's Broker agrees to accept, out of
Seller's Broker’s proceeds in escrow, the amount specified in the MLS, provided Buyer's Broker is a Participant of the MLS in which
the Property is offered for sale or a reciprocal MLS. If Seller's Broker and Buyer's Broker are not both Participants of the MLS, or
a reciprocal MLS, in which the Property is offered for sale, then compensation must be specified in a separate written agreement
(C.A.R. Form CBC). If Buyer’s Broker has not already done so, Buyer’s Broker will disclose to Buyer (i) the compensation Seller’s
Broker agrees to pay as specified in the MLS, or as modified, or in the separate written agreement, whichever is applicable; and
(ii) after receipt, the final compensation paid to Buyer’s Broker. Declaration of License and Tax (C.A.R. Form DLT) may be used
to document that tax reporting will be required or that an exemption exists.
Pursuant to the National Association of REALTORS
®
Standard of Practice 1-7, if Buyer’s Agent
makes a written request, Seller’s Agent shall confirm in writing that this offer has been presented to Seller.
Buyer’s Brokerage Firm ______________________________________________________ Lic. #______________________
By _____________________________________________________ Lic. #__________________ Date ______________________
By _____________________________________________________ Lic. #__________________ Date ______________________
n More than one agent represents Buyer, Additional Agent Acknowledgement (C.A.R. Form AAA) attached.
Address ________________________________________ City _________________________ State _______ Zip __________
Email _____________________________________________________ Phone for Text _____________________________
Alternate Designated Electronic Delivery Address ____________________________________________________________
n if checked, Delivery shall be made to the alternate designated electronic delivery address only.
Seller’s Brokerage Firm ______________________________________________________ Lic. #______________________
By _____________________________________________________ Lic. #__________________ Date ______________________
By _____________________________________________________ Lic. #__________________ Date ______________________
n More than one agent represents Seller, Additional Agent Acknowledgement (C.A.R. Form AAA) attached.
Address _______________________________________ City _________________________ State _______ Zip __________
Email _____________________________________________________ Phone for Text _____________________________
Alternate Designated Electronic Delivery Address (to be completed by Seller’s Agent): ________________________________
n if checked, Delivery shall be made to the alternate designated electronic delivery address only.
Escrow Holder acknowledges receipt of a Copy of this Agreement, (if checked,
n a deposit in the amount of $ ____________),
counter-offer numbers ____________________________ and ____________________, and agrees to act as Escrow Holder subject
to paragraph 19 of this Agreement, any supplemental escrow instructions and the terms of Escrow Holder’s general provisions.
Escrow Holder is advised by _______________________________ that the date of Acceptance of the Agreement is ____________
Escrow Holder ____________________________________________________________ Escrow # ________________________
By _____________________________________________________________________ Date _____________________________
Address _________________________________________________________________________________________________
Phone/Fax/E-mail__________________________________________________________________________________________
Escrow Holder has the following license number # __________________
n Department of Financial Protection and Innovation, n Department of Insurance, n Department of Real Estate.
(________/_______) Seller’s Brokerage Firm presented this offer to Seller on ______________(date).
Broker or Designee Initials
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (RPA PAGE 16 OF 16)
RPA 12/21 (PAGE 16 OF 16)
Published and Distributed by:
REAL ESTATE BUSINESS SERVICES, LLC.
a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS
®
525 South Virgil Avenue, Los Angeles, California 90020
