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OREC RESIDENTIAL SALES (1-2011)

OKLAHOMA REAL ESTATE COMMISSION

This is a legally binding Contract;

if not understood seek advice from an attorney

OKLAHOMA UNIFORM CONTRACT

RESIDENTIAL CONTRACT OF SALE OF REAL ESTATE

CONTRACT DOCUMENTS. The Contract is dened as this document with the following attachment(s):

(check as applicable)

____ Conventional Supplemental ___ Single Family Mandatory Homeowners’ Association Supplemental

____ FHA Supplemental ___ Condominium Association Supplemental

____ VA Supplemental ___ Townhouse Association Supplemental

____ Assumption/Other ___ Supplemental Addendum

____ Seller Carry ___ ______________________

PARTIES. THE CONTRACT is entered into between:

___________________________________________________________________________________________________________ “Seller”

and _________________________________________________________________________________________ “Buyer”.

The Parties’ signatures at the end of the Contract, which includes any attachments or documents incorporated by reference, with delivery

to their respective Brokers, if applicable, will create a valid and binding Contract, which sets forth their complete understanding of the

terms of the Contract. The Contract shall be executed by original signatures of the parties or by signatures as reected on separate

identical Contract counterparts (carbon, photo or fax copies). All prior verbal or written negotiations, representations and agreements are

superceded by the Contract, which may only be modied or assigned by a further written agreement of Buyer and Seller.

Seller agrees to sell and convey by General Warranty Deed, and Buyer agrees to accept such deed and buy the Property described

herein, on the following terms and conditions:

The Property shall consist of the following described real estate located in _____________________________ County, Oklahoma.

1. LEGAL DESCRIPTION. ____________________________________________________________________________

___________________________________________________________________________________________________

______________________________________________________________________________________________________________

Property Address City Zip

Together with all xtures and improvements, and all appurtenances, subject to existing zoning ordinances, plat or deed restrictions,

utility easements serving the Property, including all mineral and water rights owned by Seller unless expressly reserved by Seller

in the Contract and excluding mineral rights previously reserved or conveyed of record (collectively referred to as “the Property”.)

2. PURCHASE PRICE, EARNEST MONEY AND SOURCE OF FUNDS. This is a CASH TRANSACTION unless a Financing

Supplement Agreement is attached. The Purchase Price is $__________________________ payable by Buyer as follows:

Buyer has paid $__________________________ as Earnest Money on execution of the Contract, and Buyer shall pay the

balance of the purchase price and Buyer’s Closing costs at Closing. Upon execution of the Contract, the Earnest Money shall

be deposited in the trust account of ______________________________________or if left blank, the Listing Broker’s trust

account, as part payment of the purchase price and/or closing costs. If interest accrues on Earnest Money Deposit in Listing

Broker’s trust account, said interest shall be paid to “Oklahoma Housing Foundation”.

3. CLOSING, FUNDING AND POSSESSION. The Closing process includes execution of documents, delivery of deed and

receipt of funds by Seller and shall be completed on or before __________________________________________, (“Closing

Date”) or not later than __________________________________ days (ve [5] days if left blank) thereafter caused by a delay

of the Closing process, or such later date as may be necessary in the Title Evidence provision (reference Paragraph 10 D and

E). Possession shall be transferred upon conclusion of Closing process unless otherwise provided below:

__________________________________________________________________________________________________.

In addition to costs and expenses otherwise required to be paid in accordance with terms of the Contract, Buyer shall pay

Buyer’s Closing fee, Buyer’s recording fees, and all other expenses required from Buyer. Seller shall pay documentary

stamps required, Seller’s Closing fee, Seller’s recording fees, if any, and all other expenses required from Seller. Funds

required from Buyer and Seller at Closing shall be either cash, cashier’s check or wire transfer.

This form was created by

the Oklahoma Real Estate

Contract Form Committee and

approved by the Oklahoma

Real Estate Commission.

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