You are the paralegal for Michelle Robles, Esq., who specializes in Estate Planning and Real Estate Law. Some

of her clients are real estate agents who often hire her to write their real estate contracts, since each case is

different and they prefer not to be found guilty of Unlicensed Practice of Law, in addition to them wanting to

minimize claims against their Errors and Omissions Insurance.

One such client, Jack Schnittman, a Real Estate Agent with Homebuyers Realty, has clients named, Walter

Fielding and Anna Crowley, who are in a long-term relationship, and who want to purchase a house. After

several weeks of showing them houses, they fell in love with an 8 bedroom, 6 bath Mansion on a 10 acre lot in

the subdivision called Fosse d'Argent, about an hour east of Sarasota. The address is 1234 Tom Hanks Drive,

Riverdale, FL 34888, in Midland County. The house was built in 1920s. The owner, Estelle Smith, was

desperate to sell the home as her husband abandoned her and she was facing a large judgment. She was willing

to sell the house for a fraction of the value because of her money issues, but the house must close by the end of

business day Tuesday, December 5. They wish to right an offer on this property right away before another offer

comes in.

They wish to offer $400,000, which is full price. The value of this house should be at least $1,500,000. The

house is in immaculate condition, so they agree to purchase the property As-Is. There is a Homeowner

Association for the community that is required and has a yearly fee of $650. In order to purchase the house, they

have found the money to pay for it by borrowing money from Walter's client, musician Benny Lombardo, and

Anna's ex-husband, Alexander Godunov. They want to write the offer as being paid in all cash since there will

not be a mortgage required to be filed against the property, and allows them to close quickly. As consideration,

they agree to place $50,000 as an escrow deposit. The Buyer and Seller agree that the customary closing costs

shall be paid by the respective party. Since they are buying As-Is, the seller will not be responsible for any

repairs. The Buyers are also waiving the Right to Inspect because there is no time to do a Home Inspection.

The house includes all of the furniture and a 1930 Cadillac V16 antique car. Although all of the appliances are

included, the washer and dryer is not because they are not in working condition. The House was being sold by

owner, and not listed by a Real Estate Salesperson or Broker. Seller was willing to pay the Buyer's Agent a

1.5% commission because she was taking a loss on the house. Additionally, the Seller did not want to have

lawyers involved in advising the clients because she does not trust them. She only wants a lawyer to write the

contract and handle the real estate closing.

Residential Contract For Sale And Purchase THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR LY, FloridaRealtors PARTIES: ("Seller") and ("Buyer"), agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Property") pursuant to the terms and conditions of this Residential Contract For Sale And Purchase and 5 any riders and addenda ("Contract"): 6 1. PROPERTY DESCRIPTION: 7" (a) Street address, city, zip: 3 (b) Property is located in: _ 4 County, Florida. Real Property Tax ID No.: (c) Real Property: The legal description is_ 10 5 12 together with all existing improvements and fixtures, including built-in appliances, built-in furnishings and attached wall-to-wall carpeting and flooring ("Real Property") unless specifically excluded in Paragraph 1(e) or by other terms of this Contract. (d) Personal Property: Unless excluded in Paragraph 1(e) or by other terms of this Contract, the following items which are owned by Seller and existing on the Property as of the date of the initial offer are included in the purchase: range(s)/oven(s), refrigerator(s), dishwasher(s), disposal, ceiling fan(s), intercom, light fixture(s), drapery rods and draperies, blinds, window treatments, smoke detector(s), garage door opener(s), security gate and other access devices, and storm shutters/panels ("Personal Property"). 20" Other Personal Property items included in this purchase are: 22 Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer. 23" (e) The following items are excluded from the purchase: 24 25 PURCHASE PRICE AND CLOSING 26" 2. PURCHASE PRICE (U.S. currency): ..... 27' (a) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) .......$ 8 28 The initial deposit made payable and delivered to "Escrow Agent" named below 29" (CHECK ONE): (i) _ accompanies offer or (ii) | is to be made within (if left 30 blank, then 3) days after Effective Date. IF NEITHER BOX IS CHECKED, THEN 31 OPTION (II) SHALL BE DEEMED SELECTED. 32" Escrow Agent Information: Name: Address:_ 34' Phone: E-mail: Fax: 35" (b) Additional deposit to be delivered to Escrow Agent within (if left blank, then 10) 36" days after Effective Date ..... 37 All deposits paid or agreed to be paid, are collectively referred to as the "Deposit") 38" (c) Financing: Express as a dollar amount or percentage ("Loan Amount") see Paragraph 8 ... 10 39" (d) Other: 40 (e) Balance to close (not including Buyer's closing costs, prepaids and prorations) by wire 41" transfer or other COLLECTED funds .. ........2828414184834:15983414158441428434141843414183984182583415123834152353410185 11 42 NOTE: For the definition of "COLLECTION" or "COLLECTED" see STANDARD S. 43 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS; EFFECTIVE DATE: 44 (a) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 45' . this offer shall be deemed withdrawn and the Deposit, if any, shall be returned 46 to Buyer. Unless otherwise stated, time for acceptance of any counter-offers shall be within 2 days after the 47 day the counter-offer is delivered. 48 (b) The effective date of this Contract shall be the date when the last one of the Buyer and Seller has signed or 49 initialed and delivered this offer or final counter-offer ("Effective Date"). 50 4. CLOSING DATE: Unless modified by other provisions of this Contract, the closing of this transaction shall occur 51 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered ("Closing") on 12 ("Closing Date"), at the time established by the Closing Agent. Buyer's Initials Page 1 of 13 Seller's Initials Florida Restors/FloridaBar- 4x Rev 2/16 0 2015 Florida Realtors* and The Florida Bar. All rights reserved. Sonal: 083458-4001 47-4305219 formsimplicity