Contract Roulette Interactive 2

Legal Update I (26-27) Chapter 2 – Contract Form Basics Contract Roulette Interactive 2

Scenario

Buyer wants to submit a cash offer on a five-acre ranchette in a new development. The buyer is an equestrian and is excited that the property owners' association welcomes horses. The seller is a builder who just finished constructing a single-family home and installed several corrals that will convey with the sale of the property. The buyer intends to use funds from the sale of their current residence and a loan from their parents to fund the purchase of the property.

Addenda Options

  • Third Party Financing Addendum

  • Non Realty Items Addendum

  • Addendum for Sale of Other Property

  • Seller's Disclosure Notice

  • Addendum for Property Subject to Mandatory Membership in a Property Owners Association

What Addenda should be used in this scenario?
Feel free to share your rationale

Please answer as a comment below before Marking Complete

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