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OREC NEW HOME CONSTRUCTION (11-2019)
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
OKLAHOMA REAL ESTATE COMMISSION
This is a legally binding Contract; if not understood, seek advice from an attorney.
OKLAHOMA UNIFORM CONTRACT OF SALE OF REAL ESTATE
NEW HOME CONSTRUCTION
CONTRACT DOCUMENTS. The Contract is dened as this document with the following attachment(s):
(check as applicable)
____ Conventional Loan ____ Single Family Mandatory Homeowners’ Association
____ FHA Loan ____ Condominium Association
____ VA Loan ____ Townhouse Association
____ Supplement
____ Sale of Buyer’s Property - Presently Under Contract Builder-provided documents:
____ Sale of Buyer’s Property - Not Under Contract ____ Builder Addendum
____ _________________________________________ ____ Allowances
____ _________________________________________ ____ Specications
____ _________________________________________ ____ Plans
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.
This agreement shall be binding upon and inure to the benet of the Parties hereto and their respective heirs, successors and permitted assigns.
The Contract shall be executed by original signatures of the Parties or by signatures as reected on separate identical Contract counterparts
(carbon, photo, fax or other electronic copy). The Parties agree that as to all aspects of this transaction involving documents an electronic signature
shall have the same force and effect as an original signature pursuant to the provisions of the Uniform Electronic Transactions Act, 12A, Oklahoma
Statutes, Section 15-101 et seq. All prior verbal or written negotiations, representations and agreements are superseded by the Contract, which may
only be modied or assigned by a further written agreement of Buyer and Seller.
The Parties agree that all notices and documents provided for in this contract shall be delivered to the Parties or their respective brokers, if
applicable. 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 Property Address City ZipMMMM
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 rights owned by Seller, which may be subject to lease, 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
is attached. The Purchase Price is $__________________________ payable by Buyer as follows: Within three (3) days of the
execution of the Contract, Buyer must deliver $______________ as Earnest Money, which shall be deposited in the trust account of
_______________________________,
or if left blank, the Listing Broker’s trust account, as partial payment of the purchase price and/or
closing costs. Buyer shall pay the balance of the purchase price and Buyer’s Closing costs at Closing. If Buyer fails to deliver the earnest
money within the time required, Seller may terminate this contract or exercise Seller’s remedies under Paragraph 15, or both, by providing
notice to Buyer before Buyer delivers the earnest money. If the last day to deliver the earnest money falls on a Saturday, Sunday, or legal
holiday, the time to deliver the earnest money is extended until the end of the next day that is not a Saturday, Sunday, or legal holiday.
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 such
later date as may be necessary in the Title Evidence Paragraph of the Contract. 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.
4. TIME PERIODS SPECIFIED IN CONTRACT. Time periods for Investigations, Inspections and Reviews and Financing Supplement
shall commence on ________________________________________________________________ (Time Reference Date),
regardless of the date the Contract is signed by Buyer and Seller. The day after the Time Reference Date shall be counted as day one
(1). If left blank, the Time Reference Date shall be the third day after the last date of signatures of the Parties.
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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OREC NEW HOME CONSTRUCTION (11-2019)
Property Address ____________________________________________________________________________________
5. INVESTIGATIONS, INSPECTIONS AND REVIEWS.
A. Buyer shall have ________________ days (10 days if left blank) after the Time Reference Date to complete any investigations,
inspections and reviews. If required by ordinance, Seller, or Seller’s Broker, if applicable, shall deliver to Buyer, or Buyer’s Broker,
if applicable, within ve (5) days after the Time Reference Date any written notices affecting the Property.
B. Buyer, together with persons deemed qualied by Buyer and at Buyer’s expense, shall have the right to enter upon the Property to
conduct any and all investigations, inspections, and reviews of the Property. Buyer’s right to enter upon the Property shall extend
to Oklahoma-licensed Home Inspectors and licensed architects for purposes of performing a home inspection. Buyer’s right to
enter upon the Property shall also extend to registered professional engineers, professional craftsman and/or other individuals
retained by Buyer to perform a limited or specialized investigation, inspection or review of the Property pursuant to a license
or registration from the appropriate State licensing board, commission or department. Finally, Buyer’s right to enter upon the
Property shall extend to any other person representing Buyer to conduct an investigation, inspection and/or review which is lawful
but otherwise unregulated or unlicensed under Oklahoma Law. Buyer’s investigations, inspections, and reviews may include, but
not be limited to, the following:
1) Flood, Storm Run off Water, Storm Sewer Backup or Water History
2) Psychologically Impacted Property and Megan’s Law
3) Hazard Insurance (Property insurability)
4) Environmental Risks, including, but not limited to soil, air, water, hydrocarbon, chemical, carbon, mold, radon gas
5) Use of Property. Property use restrictions, building restrictions, easements, restrictive covenants, zoning ordinances and
regulations, mandatory Homeowner Associations and dues
6) Square Footage. Square footage computations vary, depending on the source; therefore, Buyer shall not rely on any
quoted square footage and shall have the right to measure the Property, to include land, existing building(s), those under
construction or to be built in accordance with plans and specications. Buyer shall have the right to measure and determine
that the square footage computations are acceptable.
7) Roof, structural members, roof decking, coverings and related components
8) Fixtures, Equipment and Systems Inspection. All xtures, equipment and systems relating to plumbing (including sewer/
septic system and water supply), heating, cooling, electrical, built-in appliances, swimming pool, spa, sprinkler systems and
security systems
9) Termites and other Wood Destroying Insects Inspection
10) Building Insulation Disclosure
11) Home Inspection
12) Structural Inspection
13) �����������������������������������������������������������������������������������������������
C. Buyer, or Buyer’s Broker, if applicable, within 24-hours after expiration of the time period referenced in Paragraph 5A of the Contract,
shall deliver to Seller, in care of the Seller’s Broker, if applicable, a copy of all written reports obtained by Buyer, if any, pertaining
to the Property. If any results of Buyer’s investigation, inspections, or reviews are unsatisfactory to Buyer, then, if applicable, Buyer
shall deliver to Seller, in care of Seller’s Broker, if applicable, a written list of those unsatisfactory items as indicated on the Notice
of Treatments, Repairs and Replacements form. Buyer and Seller shall have ______________________days (3 days if left blank)
to negotiate a resolution to the unsatisfactory item(s). If a written agreement is not reached between the Buyer and Seller within the
time specied within this provision, the Contract shall become null and void and earnest money returned to Buyer.
6. TERMITE REPORT.
A. On or before the date of Closing, Seller, or Seller’s Broker, if applicable, shall either furnish Buyer, in care of Buyer’s Broker, if applicable,
at Seller’s expense, a soil treatment report issued by a licensed applicator or exterminator reecting that the ground upon which the
structure(s) has been constructed was treated prior to construction to prevent the infestation of termites; or the Seller, or Seller’s Broker,
if applicable, shall provide, at Seller’s expense, a report by a licensed exterminating company of any structure(s) on the Property. If
such report reveals visible infestation by termites or other wood destroying insects, Seller shall pay for such treatment and repairs, and
provide a subsequent report reecting that any structure(s) on the Property are free of infestation by termites and other wood destroying
insects. Soil treatment report shall be dated within one (1) year prior to date of Closing, or an inspection report shall be dated within
ninety (90) days prior to date of Closing.
B. In addition to the report provided by the Seller, Buyer at Buyer’s option and expense may have an inspection by a licensed exterminating
company of any structures on the Property. If such inspection reveals visible infestation by termites or other wood destroying insects,
Seller shall pay for such treatment and repairs, and provide a subsequent report reecting that any structure(s) on the Property are free
of infestation by termites and other wood destroying insects.
7. CONSTRUCTION ON THE PROPERTY.
A. STATUS OF IMPROVEMENTS. The improvements on the Property are (check one):
Completed at the time of Contract.
To be completed in accordance with the plans, specications and allowances, which, if not attached, shall be delivered
to the Buyer, in care of Buyer’s Broker, if applicable, within ve (5) days of the Time Reference Date. Buyer shall have
ve (5) days from receipt to review the plans, specications, allowances and square footage computations. If Buyer,
or Buyer’s Broker, if applicable, does not provide written notice of cancellation to Seller, in care of Seller’s Broker, if
applicable, within twenty-four (24) hours after expiration of this review period, Buyer shall be deemed to have accepted
the plans, specications, allowances and square footage computations.
B. CONSTRUCTION STANDARDS AND TRANSFER OF WARRANTIES.
1) Seller warrants that any improvements on the Property and improvements to be completed will be free from defects in materials
and workmanship, in accordance with construction standards prevailing in the community. Upon notice from Seller, or Seller’s
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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OREC NEW HOME CONSTRUCTION (11-2019)
Property Address ____________________________________________________________________________________
Broker, if applicable, that the improvements are substantially complete, the Buyer, at Buyer’s expense, shall be entitled to inspect
the improvements to determine whether the improvements are free of defects and have been completed in accordance with the
provisions of this Contract. At Closing, Seller shall transfer to Buyer all manufacturers and new product warranties covering xtures,
equipment and appliances.
2)
Buyer, or Buyer’s Broker, if applicable, will provide to the Seller, in care of Seller’s Broker, if applicable, a written detailed list of defects,
uncompleted work and unacceptable cosmetic and decorative items (the “Punchlist”) at least ve (5) days prior to Closing. Seller will
repair any defects, complete any uncompleted work and remedy any other agreed Punchlist items prior to Closing. Provided if any
Punchlist items cannot be completed before Closing, Seller shall have a reasonable time after Closing to complete any Punchlist items.
C. CHANGES, ALLOWANCE OVERAGES AND ALTERATIONS. All changes, allowance overages and alterations shall be agreed
to in writing. Buyer shall pay any additional cost of all changes, allowance overages and alterations to the Seller prior to installation
of such changes, allowance overages and alterations and such payment shall be non-refundable.
8. WARRANTY AND NOTICE OF DEFECT.
A.
If Seller offers a warranty in addition to the provisions in Paragraph 7 of the Contract, (CONSTRUCTION STANDARDS AND TRANSFER
OF WARRANTIES), Seller, or Seller’s Broker, if applicable, shall provide, at Seller’s expense, within ve (5) days of the Time Reference
Date a sample written warranty covering the Property, which shall be effective at Closing. Buyer shall have the time provided in Paragraph
5 of the Contract (INVESTIGATIONS, INSPECTIONS AND REVIEWS), to review the provisions of the warranty. In the event Buyer is
dissatised with the provisions of the warranty, Buyer may cancel the Contract in accordance with Paragraph 5 of the Contract.
B. If the sale of the Property is nanced by an FHA insured or a VA guaranteed loan and (i) Seller does not have a builder number
issued by FHA or VA; and (ii) the improvements were constructed without FHA or VA building inspections, then (iii) Seller agrees
to provide the following FHA or VA approved warranty:
____________________________________________________________________________________________________.
C. NOTICE OF DEFECT. Seller shall not be responsible for any defects unless Seller shall have received, within twelve (12) months
after Closing, written notice from Buyer specically listing any then existing defects.
9. USE OF PROPERTY. Seller, or Seller’s Broker, if applicable, shall provide within ve (5) days of the Time Reference Date a copy
of the recorded or proposed deed restrictions, covenants and any Homeowner’s Association governing documents with current or
proposed monthly dues and assessments applicable to the Property. Buyer shall have the time provided in Paragraph 5 of the Contract
(INVESTIGATIONS, INSPECTIONS AND REVIEWS), to review provisions of above-described documents. In the event the Buyer is
dissatised with the provisions of the documents, Buyer may cancel the Contract in accordance with Paragraph 5 of the Contract.
10. UTILITIES, METERS, TELEPHONE and CABLE.
A. Buyer is responsible for the costs of permanent telephone and cable connections.
B. Buyer is responsible for the costs of any deposits and transfer fees, if any, required to commence permanent utility service.
C. Seller is responsible for the costs of permanent installation and connection of utilities, equipment and required membership and
meters in utility districts.
11. RISK OF LOSS. Until transfer of title or transfer of possession, risk of loss to the Property, ordinary wear and tear excepted, shall be
upon Seller; after transfer of Title or transfer of possession, risk of loss shall be upon Buyer. (Parties are advised to address insurance
coverage regarding transfer of possession prior to Closing.)
12. TITLE EVIDENCE.
A. BUYER’S EXPENSE. Buyer, at Buyer’s expense, shall obtain:
(check one)
Commitment for Issuance of a Title Insurance Policy based on an Attorney’s Title Opinion which is rendered for Title
Insurance purposes for the Owner’s and Lender’s Title Insurance Policy.
OR
Attorney’s Title Opinion, which is not rendered for Title Insurance purposes.
B. SELLER’S EXPENSE. Seller, at Seller’s expense, within thirty (30) days prior to Closing Date, agrees to make available to Buyer
the following (collectively referred to as “the Title Evidence”):
1) A complete and current surface-rights-only Abstract of Title, certied by an Oklahoma-licensed and bonded abstract company;
OR
A copy of Seller’s existing owner’s title insurance policy issued by a title insurer licensed in the State of Oklahoma together with
a supplemental and current surface-rights-only abstract certied by an Oklahoma-licensed and bonded abstract company, and
2) A current Uniform Commercial Code Search Certicate.
3)
An inspection report (commonly referred to as a “Mortgage Inspection Certicate") prepared subsequent to the Time Reference Date by a
licensed surveyor, which shall include a representation of the boundaries of the Property (without pin stakes) and the improvements thereon.
C. LAND OR BOUNDARY SURVEY OR REPORT. Seller agrees that Buyer, at Buyer’s expense, may have a licensed surveyor
enter upon the Property to perform:
(check one)
a Land or Boundary (Pin Stake) Survey, or
a Mortgage Inspection Report
that shall then be considered as part of the Title Evidence.
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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OREC NEW HOME CONSTRUCTION (11-2019)
Property Address ____________________________________________________________________________________
D. BUYER TO EXAMINE TITLE EVIDENCE.
1
) Buyer shall have ten (10) days after receipt to examine the Title Evidence and to deliver Buyer’s objections to Title to Seller, or Seller’s
Broker, if applicable. In the event the Title Evidence is not made available to Buyer, in care of Buyer’s Broker, if applicable, within ten (10)
days prior to Closing Date, said Closing Date shall be extended to allow Buyer the ten (10) days from receipt to examine the Title Evidence
.
2) Buyer agrees to accept title subject to: (i) utility easements serving the property, (ii) building and use restrictions of record, (iii) set
back and building lines, (iv) zoning regulations, and (v) reserved and severed mineral rights, which shall not be considered objections
for requirements of Title.
E. SELLER TO CORRECT ISSUES WITH TITLE (IF APPLICABLE), POSSIBLE CLOSING DELAY. Upon receipt by Seller, or in care of
Seller’s Broker, if applicable, of any title requirements reected in an Attorney’s Title Opinion or Title Insurance Commitment, based upon
the standard of marketable title set out in the Title Examination Standards of the Oklahoma Bar Association, the Parties agree to the
following:
1) At Seller's option and expense, Seller may cure title requirements identied by Buyer; and
2) Delay Closing Date for ______________ days [thirty (30) days if blank], or a longer period as may be agreed upon in writing, to
allow Seller to cure Buyer’s title requirements. In the event Seller cures Buyer’s objection prior to the delayed Closing Date, Buyer
and Seller agree to close within ve (5) days of notice of such cure. In the event that title requirements are not cured within the
time specied in this Paragraph, the Buyer may cancel the Contract and receive a refund of earnest money.
F. Upon Closing, any existing Abstract(s) of Title, owned by Seller, shall become the property of Buyer.
13. TAXES, ASSESSMENTS AND PRORATIONS.
A. General ad valorem taxes for the current calendar year shall be prorated through the date of closing, if certied. However, if the amount
of such taxes has not been xed, the proration shall be based upon the rate of levy for the previous calendar year and the most current
assessed value available at the time of Closing.
B. The following items shall be paid by Seller at Closing: (i) Documentary Stamps; (ii) all utilities bills, actual or estimated; (iii) all taxes other
than general ad valorem taxes which are or may become a lien against the Property; (iv) any labor, materials, or other expenses related
to the Property, incurred prior to Closing which is or may become a lien against the Property.
C. At Closing all leases, if any, shall be assigned to Buyer and security deposits, if any, shall be transferred to Buyer. Prepaid rent and lease
payments shall be prorated through the date of Closing.
D. If applicable, membership and meters in utility districts to include, but not limited to, water, sewer, ambulance, re, garbage, shall be
transferred at no cost to Buyer at Closing.
E. If the property is subject to a mandatory Homeowner’s Association, dues and assessments, if any, based on most recent
assessment, shall be prorated through the date of Closing.
F. All governmental and municipal special assessments against the property (matured or not matured), not to include Homeowner’s
Association special assessments, whether or not payable in installments, shall be paid in full by Seller at Closing.
14. EVIDENCE OF PAYMENTS. Prior to, or at Closing, Seller shall submit an affidavit as evidence that all payrolls, subcontracts, material bills,
and other indebtedness related to the construction of improvements have been paid. If requested by Buyer, Seller shall also submit a list of
the major sub-contractor(s), and if further requested, lien waivers from each sub-contractor(s) prior to Closing.
15. ADDITIONAL PROVISIONS.
16. MEDIATION. Any dispute arising with respect to the Contract, shall rst be submitted to a dispute resolution mediation system servicing the
area in which the Property is located. Any settlement agreement shall be binding. In the event an agreement is not reached, the Parties may
pursue legal remedies as provided by the Contract.
1 7. BREACH AND FAILURE TO CLOSE. Seller or Buyer shall be in Breach of Contract if either fails to comply with any material covenant,
agreement, or obligations within the time limits required by the Contract. TIME IS OF THE ESSENCE IN THIS CONTRACT. Following a
breach by either Seller or Buyer of the Contract, and after an unsuccessful mediation, as set out in MEDIATION Provision, the other Party
shall have the following remedies:
A. UPON BREACH BY SELLER. If the Buyer performs all of the obligations of Buyer, and if, within ve (5) days after the date specied for
Closing under Paragraph 3 of the Contract, Seller fails to convey the Title or fails to perform any other obligations of the Seller under this
Contract, then Buyer shall be entitled to either cancel and terminate this Contract, return the abstract to Seller and receive a refund of
the Earnest Money, or pursue any other remedy available at law or in equity, including specic performance.
B. UPON BREACH BY BUYER. If at any time prior to closing the Buyer’s Earnest Money should fail for lack of delivery or lack of collection
pursuant to Paragraph 2, then Seller may, at Seller’s option, elect to do one of the following: (i) cancel and terminate this Contract upon
delivery of notice of termination to Buyer, (ii) pursue any other remedy available at law or in equity, or (iii) enter into a written agreement
between Buyer and Seller modifying the terms of Paragraph 2 to cure the lack of delivery or lack of collection of the Earnest Money. If,
after the Seller has performed Seller’s obligation under this Contract, and Buyer fails to provide funding, or fails to perform any other
obligations of the Buyer under this Contract, then the Seller may, at Seller’s option, cancel and terminate this Contract and retain all
sums paid by the Buyer, but not to exceed 5% of the purchase price, as liquidated damages, or pursue any other remedy available at
law or in equity, including specic performance.
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
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Property Address ____________________________________________________________________________________
18. INCURRED EXPENSES AND RELEASE OF EARNEST MONEY.
A. Incurred Expenses. Buyer and Seller agree that any expenses, incurred on their behalf, shall be paid by the Party incurring
such expenses and shall not be paid from Earnest Money.
B. Release of Earnest Money. In the event a dispute arises prior to the release of Earnest Money held in escrow, the escrow
holder shall retain said Earnest Money until one of the following occur:
1) A written release is executed by Buyer and Seller agreeing to its disbursement;
2) Agreement of disbursement is reached through Mediation;
3) Interpleader or legal action is led, at which time the Earnest Money shall be deposited with the Court Clerk; or
4) The passage of thirty (30) days from the date of nal termination of the Contract has occurred and options 1), 2) or
3) above have not been exercised; Broker escrow holder, at Broker’s discretion, may disburse Earnest Money. Such
disbursement may be made only after fteen (15) days written notice to Buyer and Seller at their last known address stating
the escrow holder’s proposed disbursement.
19. DELIVERY OF ACCEPTED OFFER OR COUNTEROFFER. The Buyer and Seller authorize their respective Brokers, if applicable, to
receive delivery of an accepted offer or counteroffer, and any related addenda or documents.
20. INSULATION DISCLOSURE. In the event that insulation information described below is not herewith provided, Seller shall have ve
(5) days from Time Reference Date to provide insulation information required under the U.S. Federal Trade Commission Regulations,
disclosing the R-Value, type and thickness of insulation installed in walls and ceilings of the Property. Buyer shall have time provided in
Paragraph 5 of the Contract (INVESTIGATIONS, INSPECTIONS AND REVIEWS), to inspect and review above-described information.
In the event Buyer is dissatised with information provided, Buyer may cancel Contract in accordance with Paragraph 5 of the Contract.
2 1. NON-FOREIGN SELLER. Seller represents that at the time of acceptance of this contract and at the time of Closing, Seller is not a “foreign
person” as such term is dened in the Foreign Investments in Real Property Tax Act of 1980 (26 USC Section 1445(f) et. Sec) (“FIRPTA”). If
either the sales price of the property exceeds $300,000.00 or the buyer does not intend to use the property as a primary residence then, at
the Closing, and as a condition thereto, Seller shall furnish to Buyer an affidavit, in a form and substance acceptable to Buyer, signed under
penalty of perjury containing Seller’s United States Social Security and/or taxpayer identication numbers and a declaration to the effect that
Seller is not a foreign person within the meaning of Section “FIRPTA.”
22. TERMINATION OF OFFER. The above Offer shall automatically terminate on _____________________________unless withdrawn
prior to acceptance or termination.
23. EXECUTION BY PARTIES.
AGREED TO BY BUYER: AGREED TO BY SELLER:
_______________________________________________ ___________________________________________________
Buyer’s Printed Name Seller’s Printed Name
_______________________________________________ ___________________________________________________
Buyer’s Signature Date Seller’s Signature Date
_______________________________________________ ___________________________________________________
Buyer’s Printed Name Seller’s Printed Name
_______________________________________________ ___________________________________________________
Buyer’s Signature Date Seller’s Signature Date
OFFER REJECTED AND SELLER IS NOT MAKING A COUNTEROFFER _________________________, 20_____________________
_______________________________________________________ ___________________________________________________
Seller’s Signature Seller’s Signature
BUILDING INSULATION DISCLOSURE: The insulation installed or to be installed prior to Closing, in this Property is as follows:
A. CEILINGS: Insulated with ��������������� insulation, to a thickness of �������inches resulting in R-value of
������� according to manufacturer.
B. WALLS:
1. Insulated in wall cavity (between studs) with insulation, with a thickness of �������� inches resulting in R-value of
�������� according to manufacturer.
2. Sheathing material (applied to exterior of stud) insulation, with a thickness of �������� inches resulting in R-value of
�������� according to the manufacturer.
3. Total wall R-value (total of 1 & 2 above)������������������.
Seller’s Signature: ����������������������������������������������������������������������
This form was created by the Oklahoma Real Estate Contract Form Committee and approved by the Oklahoma Real Estate Commission.
Page 6 of 6
OREC NEW HOME CONSTRUCTION (11-2019)
Property Address ____________________________________________________________________________________
ASSOCIATE INFORMATION
SELLING BROKER/ASSOCIATE: LISTING BROKER/ASSOCIATE:
________________________________________________ _____________________________________________
Name and OREC Associate License Number Name and OREC Associate License Number
________________________________________________ _____________________________________________
OREC Company Name OREC Company Name
________________________________________________ _____________________________________________
OREC Company License Number OREC Company License Number
________________________________________________ _____________________________________________
Company Address Company Address
________________________________________________ _____________________________________________
Company Phone Number Company Phone Number
________________________________________________ _____________________________________________
Associate Email Date Associate Email Date
