FOR SALE BY OWNER TOOL BOX - Fidelity Title Agency of ...
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FOR SALE BY OWNER
TOOL BOX
Fidelity Title Agency of Alaska
3150 C Street, Suite 220, Anchorage, AK 99503
Phone (907)277-6601 / Fax (907)277-6613
10928 Eagle River Road, Eagle River, AK 99577
By Appointment
(907)622-5723
250 Cushman Street, Suite 2B, Fairbanks, AK 99701
Phone (907)457-3250 / Fax (907)457-3260Fidelity Title Agency of Alaska - Anchorage
Phone (907)277-6601 / Fax (907)277-6613
order@fidelityak.com
Fidelity Title Agency of Alaska -Fairbanks
Phone (907)457-3250 / Fax (907)457-3260
faiorders@fidelityak.com
ORDER SHEET
Primary Customer: FTAA Ref:
Prior File (if any):
Ordered by: Escrow Officer:
Escrow Type: Property Type:
Owner’s - Standard $ Owner’s - Extended $
Lender’s – Standard $ Lender’s – Extended(ALTA) $
OWNER(S):
BUYER(S):
LEGAL DESCRIPTION:
RECORDING DISTRICT:
Street Address:
CC: Primary CC: Owner:
Customer
Address: Address:
Email: Email:
Phone: Phone:
CC: Lender: CC: Buyer
Attention: Address:
Phone: Phone:
Email: Email:
CC: Other CC: Other
Phone: Phone:
Email: Email:
Comments:
Pursuant to the Director of Insurance Order No. R92-1, a non-refundable minimum deposit of $250.00 is due within 30
days of the date of issuance of this report and will be applied to any premium charged at closing or toward the
cancellation fee should said transaction fail to close.Fidelity Title Agency of Alaska
3150 C Street, Suite 220, Anchorage, AK 99503
10928 Eagle River Road, Eagle River, AK 99577 (by appointment)
250 Cushman Street, Suite 2B, Fairbanks, AK 99701
Whether this is your first or fifth real estate transaction, the escrow process can be both confusing and
frustrating. To help alleviate some of the confusion, here are some helpful tips:
Closing for our purposes is recording of the documents. Signing final documents may be 2-3 days PRIOR
to recording and disbursement.
All parties must sign closing documents or give a Power of Attorney to someone to sign on their behalf.
All Powers of Attorney must be approved prior to signing final documents.
If a trust, guardianship, partnership or other such entity holds title to the property or will acquire title to
the property, we will require a copy of the agreement prior to closing.
If it is necessary to sign outside of our office, please make arrangements as early as possible.
The closing appointment is important to all parties of the transaction. Please adjust your schedule to
provide undistracted time for closing.
All parties who will be executing documents must provide valid identification at signing.
Sellers should know the following information:
l . We will need the completed "Request for Information" as soon as possible.
2. We will need your marital status and after closing mailing address.
3. Do not cancel your insurance until you have received your proceeds. If you are giving the Buyer
early occupancy, notify your insurance agent.
4. Continue to make your mortgage payments and homeowner’s association dues (if any)
throughout the process. Delay in closing could result in unanticipated late charges.
5. Decide how you want your funds; Pick up a check, mail a check or wire to your account. Please
bring the enclosed COMPLETED wire request form with you when you come in to sign final
documents.
Buyers should know the following information:
l. We will need your after closing mailing address and your marital status.
2. If you are obtaining a loan, please provide us with your new lender’s contact information. You
will be required to provide an insurance binder and may want to shop as early as possible for your
insurance.
3. Your closing funds will need to be in the form of a cashier's check issued by a local bank or wire
transfer to Fidelity Title Agency of Alaska.
4. Please schedule your final walk-through of the property with the seller or your real estate licensee
prior to signing your documents to avoid delays in funding and recording of the transaction.
Please remember you can always call with questions, problems or special requests. We are here to
accommodate your needs and make the escrow experience as pleasant as possible.
Your Fidelity Title Agency of Alaska experts.PAYOFF INFORMATION AND AUTHORIZATION
RE: Escrow No.: _______________________
Seller Name: __________________________________________________
Property Address:
1st Loan Account # ___________________ Loan Type (FHA, VA, CONV, Contract):
Payments due on ____ day of ea. Month
Payments made to: Name
Address
City State Zip
Phone ( )
2nd Loan Account # ___________________ Loan Type (CONV, Home Improvement):
Payments due on ____ day of ea. Month
Payments made to: Name
Address
City State Zip
Phone ( )
Yes No Homeowner’s Association Dues
Payments made to: Name
Address
City State Zip
Phone ( )
Phone Number where you may be contacted AM: _______________ PM: _______________
Email Address: _______________________________
We hereby give our consent for the release of any and all payoff figures regarding the encumbrances against
the above referenced property to Fidelity Title Agency Of Alaska.
“In the event this loan is secured by a Mortgage [Deed of Trust] allowing for advances of a credit line, please be
advised that this authorizes you to freeze the referenced credit line upon issuance of your payoff [demand]. If you
require further authorization, please contact the undersigned immediately. Payment pursuant to your payoff
(demand) will eliminate any security interest you have in the property in question. In order to avoid unsecured
additional advances the account must be frozen upon issuance of your payoff [demand]. If you make any additional
advances they will not be secured by the subject property. We will be completing an escrow/closing transaction
involving a new owner or lender in reliance on the release of your security interest in the property. Upon payment
you will be obligated to issue a release of the Mortgage [Deed of Trust] securing the line of credit.”
I UNDERSTAND THAT I MUST KEEP PAYMENTS CURRENT ON ALL THE OBLIGATIONS SHOWN
ABOVE DURING THE PROCESSING OF MY ESCROW.
Signature Signature
SS#: SS#:
Signature Signature
SS#: SS#:PURCHASE AND SALE AGREEMENT
WITH EARNEST MONEY DEPOSIT
Received from _________________________________________, (the "Buyer(s)"), the sum of
$_____________________________ Dollars ($___________), by Check # _________, paid to
the “Seller(s)”) deposited with Fidelity Title Agency of Alaska, as earnest money, on the
terms as set forth as follows:
1. Sale. The Seller(s) agrees to sell to Buyer(s) and Buyer(s) agrees to purchase, at the
price and on the terms and conditions set forth below, the following described property in the
____________________ Recording District, Third Judicial District, State of Alaska:
_________________________________________________________________
_________________________________________________________________.
hereinafter "the Property". The sales price includes the following personal property (if none,
leave blank):_________________________________________________________________.
2. Price. The total purchase price for the Property is: $___________________, payable by
the Buyer(s) as follows:
The balance of the purchase price in the form of cash or certified check shall be deposited
with the escrow agent on or before closing, or payable as follows:
New lender loan from ____________________________________ and down
payment of $_________________.
Owner finance according to the terms and conditions on the attached.
Assumption of loan number ___________________ currently serviced by
___________________________.
3. Condition of Property. Buyer(s) offers to purchase the property in its present “As-Is”
condition (if left blank), or, subject to the following items to be completed before closing:
_________________________________________________________________
_________________________________________________________________.
4. Other Buyer Contingencies. Other contingencies of Buyer(s) purchase are:
(If none leave blank)_________________________________________________
_________________________________________________________________.
Purchase and Sale Agreement with
Earnest Money Deposit- Page 1 of 45. Charges. Upon closing, the escrow agent shall charge the Seller(s) and/or Buyer(s) as
indicated by placing a mark in the appropriate column (if both Seller and Buyer column marked
or if neither column marked but there is a charge, the costs will be divided equally).
Costs B S Lender Fees B S
Owner’s Title Insurance Origination Fee
Lender’s Title Insurance Commitment Fee
Escrow Settlement Fee Discount Points
Attorney Document Fee Credit Report
Recording Fee Flood Certificate
Collection Escrow Set-Up Tax Registration
Collection Escrow Annual Appraisal
Resale Certificate Lender Document Fee
HOA Transfer Fee Reserves
Asbuilt Survey Prepaids
Assessments VA Funding Fee
Smoke Detectors Assumption Fee
Well Flow Test
Well/ Septic Inspection
Home Inspection
Taxes for the current year, rents, insurance, interest, homeowners dues, mortgage reserves,
water and any other utilities constituting liens and security deposits, shall be pro- rated or
transferred as of the date of recordation of the deed. Possession of the property will occur on
recording, or ________________________.
6. Title and Deed. Seller(s) shall convey marketable title to the Property to Buyer(s) by warranty
deed free and clear of all liens, charges and encumbrances, clouds and defects whatsoever,
except:
_________________________________________________________________.
Buyer to vest Title as follows: _______________________________________________ .
7. Time. The closing date shall be on or before _________________________.
In the event that Seller fails to perform the obligations set forth in this Agreement (except as
excused by the Buyer’s default), Buyer will make written demand for performance. If the Seller
fails to comply with such written demand within ten (10) days after receipt thereof, Buyer will
have the option to waive such default and purchase the property, demand specific performance,
or terminate this Agreement and, on such termination, the earnest money will be returned to the
Purchase and Sale Agreement with
Earnest Money Deposit- Page 2 of 4Buyer.
In the event that Buyer fails to perform the obligations set forth in this Agreement (except as
excused by the Seller’s default), Seller will make written demand for performance. If the buyer
fails to comply with such written demand within ten (10) days after receipt thereof, Seller will
have the option to waive such default, or terminate this Agreement and, on such termination, the
Earnest Money Deposit will be retained by the Seller. Seller and Buyer agree that the economic
detriment to Seller resulting from the removal of the property from the market during the term of
this agreement is difficult to ascertain and agree that a reasonable estimate of Seller’s damages
in the event Buyer fails to perform its obligations under this Agreement is the amount of the
earnest money deposit and would be the sole remedy for the Seller.
8. Title Insurance. A title insurance policy in the amount of the purchase price issued by
Fidelity Title Agency of Alaska as agent for its underwriter will be issued to Buyer(s) at closing.
If Seller(s) financing is being provided, a standard mortgagee’s title policy will be issued to the
Seller(s) if requested by indicating such in Paragraph 5 above.
9. Title Commitment. Seller(s) shall obtain for Buyer(s) a commitment to issue the required
title policy ("title report") from Fidelity Title Agency of Alaska immediately upon the execution of
this Agreement. A copy will be provided to Seller(s) and Buyer(s) before closing. Buyer(s) shall
notify Seller(s) and the title company of any restrictions, reservations, limitations, easements
and conditions of record, ("title defects") disclosed in the title report which are objectionable to
Buyer(s). In the event that Buyer(s) so notifies Seller(s) of any title defects, Seller(s) shall have
until the closing date to cure or remove the title defects. Seller(s) shall be obligated to remove
all title defects objected to by Buyer(s) or shall notify Buyer(s) that such items will not be
removed at or prior to closing in which event; Buyer(s) shall be entitled to return of the earnest
money deposit. Rights reserved in federal or State patents, governmental building or use
restrictions, and building or zoning regulations and provisions shall not be deemed defects or
encumbrances. Any defects or encumbrances may be discharged at closing out of the
purchase money.
10. Broker's Commission. The Seller(s) and Buyer(s) represent that no real estate broker was
involved in this transaction and that no brokerage fees or other compensation is due any real
estate broker or any other person because of this transaction.
11. Escrow Agent. This transaction shall be placed in escrow with Fidelity Title Agency of
Alaska ("escrow agent"). A copy of this Agreement shall be deposited with the escrow agent by
the Buyer(s).
12. Closing Documents - Funds. On or before the closing date, the escrow agent shall record
the deed and any other instruments required to be recorded and shall deliver to each of the
parties or their assigns, the funds and documents to which they shall be respectively entitled,
together with its escrow statement, provided that the escrow agent shall then have on hand all
funds and documents necessary to complete the transaction and provided the title company has
stated that it shall be in a position to and will issue and deliver, upon the filing of the deed of
record, the title insurance required hereunder.
13. Binding Effect. This Agreement shall be binding upon Seller(s) and Buyer(s) and their
respective heirs, executors, administrators, successors and assigns. Neither party shall assign
or transfer this Agreement without the written consent of the non-assigning party.
Purchase and Sale Agreement with
Earnest Money Deposit- Page 3 of 4Seller(s): Buyer(s): __________________________________ ___________________________________ (Sign & Print Name) (Sign & Print Name) __________________________________ ___________________________________ (Sign & Print Name) (Sign & Print Name) Date: Date: Time: Time: Address: Address: Phone: Phone: Email: Email: Purchase and Sale Agreement with Earnest Money Deposit- Page 4 of 4
Owner/Private Finance Terms
Amount of Promissory Note: $ Term:
Interest Rate: _______% per annum. Interest Rate fixed: _____ Yes _____ No
If interest rate is adjustable, how? ________________________________________
____________________________________________________________________
Interest beginning date: _____Date of Recording ______ Other: _______________
Payment Amount: _____________________
Frequency: ___ Monthly ___ Annual ____ Other: _________
First Payment due date: ____ One month from recording date ____ Other: _______________
Balloon payments: ____ Yes ____ No Amount(s): _____________ Date(s) ______________
Maturity date: ____________________
Due on Sale Clause? Yes No
Suit on the Note Clause? (Standard unless you state no) Yes No
Late Fee Yes No
Late Fee _______ % of Payment or $________ If more than days
Prepayment Penalty? Yes No
Prepayment penalty amount & terms:
Partial Release Provisions ___No ___ Yes
If yes, describe terms:
Will this Deed of Trust be a 1st Lien? ___Yes ___ No
If no, the underlying loan(s) are being: ___ Assumed ___ Wrapped
Proof of tax payment required? Yes No
If yes: how?
Is the property improved? Yes No
If yes, is insurance required? Yes No
If yes, amount of insurance required?
Escrow collection shall be at:
By lender/seller
Other special conditions of the Deed of Trust:
Seller/Lender Date Buyer/Borrower Date
Seller/Lender Date Buyer/Borrower DateFidelity Title Agency Of Alaska, LLC
INITIAL ESCROW INSTRUCTIONS
This agreement made by and between
, hereinafter “Seller”, and
, hereinafter “Buyer”, and
Fidelity Title Agency Of Alaska, LLC , hereinafter “FTAA”.
Whereas, the Seller owns the following described real property:
______________________________________________________________________
Whereas, the agreement to purchase and sell has not yet been executed by the Seller and the Buyer and said parties
which to deposit of earnest money with FTAA.
Therefore, in consideration thereof, the parties hereto agree as follows:
1. Deposit of Funds: The Buyer herein, deposits earnest money in the amount of $_________________ with
FTAA. FTAA hereby acknowledges receipt of the said deposit, which sum shall be held by FTAA in a non-
interest bearing escrow trust account and applied toward funds due from Buyer at close of escrow and upon
mutually executed final Escrow Instructions.
Note: When you provide a check as payment, you authorize us to use information from your check to make a
one-time electronic fund transfer from your account or to process the payment as a check transaction. When
we use information from you check to make an electronic fund transfer, funds may be withdrawn from your
account as soon as the same day you make your payment, and you will not receive your check back from your
financial institution.
2. Cancellation and/or Release of Funds: Funds shall be held in accordance with the terms and conditions of
the purchase and sale agreement between the parties; evidence of compliance with any specific due diligence
release provisions must be provided to FTAA within the specified due diligence period. Any party instructing
FTAA to cancel this escrow and/or release said deposit, shall file written notice of cancellation and/or request
for disbursement of funds in the office of FTAA. FTAA shall within a reasonable time thereafter mail, by
mail and email, one copy of the notice of cancellation and/or request for disbursement of funds to each of the
other parties at the addresses stated in this escrow. Unless written objection to cancellation and/or
disbursement of funds is filed in the office of FTAA by a party within fifteen (15) calendar days after date of
mailing, FTAA is authorized, at its option, to comply with the notice and demand payment of its cancellation
charges as provided by this agreement. If written objection is filed, FTAA is authorized, at its option, to hold
all money and instruments in this escrow and take no further action until otherwise directed, either by the
parties’ mutual written instructions, or a final order of a court of competent jurisdiction.
FTAA shall have a prior lien on the funds deposited herewith for any costs, including costs and reasonable
attorney’s fees, which may be incurred by it consequent to its being made a party to any legal or equitable
proceeding which is brought by any of the parties hereto, concerning the disposition of the funds held. If theSeller and Buyer do not agree on disbursement of funds deposited into this escrow, FTAA may interplead the
funds with a court of competent jurisdiction and obtain any and all actual costs and attorneys’ fees incurred in
bringing such an action from the funds deposited herewith.
3. Cancellation Fees:
A. Title Insurance: Pursuant to Order #81-3 and Order R92-1 of the State of Alaska, Division of Insurance,
it is required that a charge be immediately billed and collected for the minimum cost for production of a
Preliminary Commitment for Title Insurance. If the transaction should fail to close a
cancellation/production fee of $250.00, plus any additional parcel or research fees, shall be due. Credit
may be given if a future policy is issued on the subject property within two years from the date of
issuance of the cancelled Preliminary Commitment.
B. Escrow: In the event of cancellation of this escrow, whether it is at the request of any parties or FTAA,
the fees and charges due FTAA for expenditures incurred and/or authorized, shall be borne equally by the
parties unless otherwise specifically agreed to. The minimum cancellation fee will be $25.00.
4. Termination by Escrow Agent: If there is no action on this escrow within six (6) months after the
anticipated closing date of __________________ or written extension thereof, FTAA’s agency obligation
shall terminate at FTAA’s option and all documents, monies, or other items held by FTAA shall be returned to
the parties depositing same.
5. Authorization for Information: FTAA is authorized to obtain from any third party all data or information
and papers of the undersigned to assist them in closing this escrow, including but not limited to assumption or
payoff figures, statements, documents, status information, copies of documents or correspondence.
These initial escrow instructions, amendments, and supplements hereto, may be executed in one or more
counterparts, each of which independently shall have the same effect as if it were the original, and all of which taken
together shall constitute one and the same instructions.
Dated: Dated:
BUYER: SELLER:
Address: Address:
Phone: Phone:
Fax: Fax:
Email: Email:
Initial Escrow Instructions – Page 2 of 2STATUTES, REGULATIONS AND ORDINANCES
There may be certain statutes, regulations and ordinances that affect your transaction, including but not
limited to, the below items. Fidelity Title Agency of Alaska does not offer an opinion as to whether any
apply to this transaction, or if they apply, whether they have been complied with. Fidelity Title Agency
of Alaska suggests that you seek professional advice.
1. GOOD FUNDS ACT: We require funds for closing to be a locally issued cashier’s check deposited no
later than the business day prior to recording or wired funds received the day of recording to comply with
the Goods Funds Act effective July l, 1999. That act requires a settlement agent to deposit "good funds"
prior to recording conveyance documents and disbursing funds. Please be aware that an ACH is not
considered “good funds”.
2. RESIDENTIAL REAL PROPERTY TRANSFER DISCLOSURE: AS 34.70.010 requires that before the
buyer of a residential property makes a written offer, the seller must deliver a completed written disclosure
form. The State of Alaska Real Estate Commission is designated with the design and content of the form.
The form is available at https://www.commerce.alaska.gov/web/portals/5/pub/rec4229.pdf. The delivery of
the disclosure is handled outside of the escrow closing.
3. HOMEOWNER ASSOCIATIONS: Per Alaska Statutes, Sections 34.0.010 through 34.08995, the owner of
property covered by the Act is required to "furnish to a purchaser before execution of a contract for sale or
before conveyance a copy of the declaration, the bylaws, the rules or regulations of the homeowner
association, and a (Resale Certificate or Public Offering Statement)." The delivery of a Resale Certificate
or Public Offering Statement from Seller to Buyer is handled outside of the escrow closing.
4. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT: If any seller is, or may be, a non-resident
alien or foreign corporation, partnership, trust or estate for the purposes of US income taxation, the parties
are advised to consult with their attorneys before closing to determine their responsibilities and liabilities, if
any, under the Foreign Investment in Real Property Tax Act (Section 1445 et seq. of the Internal Revenue
Code). The closing agent is not required to verify the nationality or foreign status of any of the sellers, or to
withhold, report, or pay any amounts due under such act.
5. If a Transferors' (sellers') Affidavit of Non Foreign Status is deposited into escrow, escrow agent shall
deliver the original to the buyer (transferee) and shall not be obligated to act as a "Qualified Substitute"
as defined in the Housing and Economic Recovery Act of 2008.
6. MOA HEALTH AUTHORITY APPROVAL: Anchorage Municipal code sections 15.55 and 15.65 require
that all title transfers (except between spouses) of single family homes within the Municipality of
Anchorage served by individual wells and/or individual on-site waste water disposal systems have a
Certificate of Health Authority approval issued by the Department of Health and Human Services. This
requirement is effective throughout the Municipality, from Eklutna to Girdwood, and became effective
upon passage, August 18, 1998. Fidelity Title Agency of Alaska is not responsible for determining the
existence or adequacy of any on-site well and/or septic system.
7. RESIDENTIAL LEAD-BASED PANT DISCLOSURE: The seller of any interest in residential real
property is required by Federal Regulation Section 1018 of Title X to provide buyer with any informationon lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the
buyer of any known lead-based paint hazards. This form is available at www.eaa.gov.
8. STATE OF ALASKA AND CARBON MONOXIDE DETECTION DEVISES: Alaska Statute 18.70.095
requires that smoke detection devices and carbon monoxide detection devices be installed and maintained
in all dwelling units in the state. Fidelity Title Agency of Alaska shall not be held liable for determining if
parties to this escrow have complied with the requirements.
9. USURY: A usurious loan is one whose interest rate is determined to be in excess of those permitted by law.
Alaska Statute 45.45.010 provides, in part, "Interest may not be charged by express agreement of the
parties in a contract or loan commitment that is more than five points above the annual rate charged
member banks for advances by the 12 Federal Reserve on the day on which the contract or loan
commitment is made, A contract or loan commitment in which the principal amounts exceeds $25,000 is
exempt from the limitation of this subsection." Alaska Statute 06.20.310 provides that if a loan for $25,000
or less provides for a greater rate of interest than is permitted, the loan may not be enforced in the state.
Alaska Statute 45.45.030 provides that if a court determines that the rate of interest is usurious, it will free
the borrower of the entire interest on the debt. The court shall give judgment for the amount due, without
interest, on the sum loaned or the debt contracted, against the defendant and in favor of the plaintiff and
against the plaintiff for cost of action whether the action is contested or not.
10. TITLE COMMITMENT CANCELLATION FEE: Pursuant to the Director of Insurance Order No. R92-1, a
non-refundable minimum deposit of $250.00 is due within 30 days of the date of issuance of the report and will
be applied to any premium charged at closing or toward the cancellation fee should said transaction fail to close.NOTICE TO ALL BUYERS AND SELLERS OF REAL ESTATE
The Foreign Investment in Real Property Tax Act (FIRPTA)
BUYER’S RESPONSIBILITY TO WITHHOLD: Section 1445 of the Internal Revenue Code requires
all Buyers who purchase real property in the United States from foreign Sellers to withhold fifteen percent
(15%) of the total purchase price and to pay that amount to the Internal Revenue Service (IRS) within
twenty (20) days of the date escrow closes unless an exemption from withholding applies. IF BUYER
FAILS TO WITHHOLD AND TIMELY PAY THE IRS THE CORRECT WITHHOLDING AMOUNT
ON A NON-EXEMPT SALE, BUYER WILL BE LIABLE TO THE IRS FOR THE AMOUNT OF THE
TAX OWED AND ALL APPLICABLE PENALTIES AND INTEREST.
If two or more persons are joint Buyers, each is obligated to withhold. However, the obligation of each
will be met if one of the joint Buyers withholds and transmits the required amount to the IRS.
WHO IS A FOREIGN SELLER? In general, a foreign person is a non-resident alien individual, foreign
corporation, foreign trust or foreign estate, but not a resident alien individual.
BUYERS: Buyer will not be required to withhold under FIRPTA if Buyer obtains from Seller, a
certification of non-foreign status pursuant to the IRS regulations, unless Buyer has knowledge that the
Seller’s certification is false. This certification must (1) state that Seller is not a foreign person; (2) set
forth Seller’s name, taxpayer identifying number and address; and (3) be signed by Seller under penalties
of perjury. Buyer must retain this certification until the end of the fifth taxable year following the taxable
year in which the sale takes place and to make the certification available to the IRS when requested.
QUALIFIED SUBSTITUTE: Seller may furnish the Non-Foreign Affidavit to a “Qualified Substitute”
instead of the buyer provided that the Qualified Substitute furnishes a statement to the buyer stating,
under penalty of perjury, that the Qualified Substitute is in possession of the Non-Foreign Affidavit. A
Qualified Substitute is defined as: (1) the person (including any attorney or title company) responsible for
closing the transaction, other than the seller’s agent, and (2) the buyer’s agent. (See IRC § 1445(f)(6)).
If a Transferors’ (sellers’) Affidavit of Non Foreign Status is deposited into escrow, escrow agent
shall deliver the original to the buyer (transferee) and shall not be obligated to act as a “Qualified
Substitute” as defined in the Housing and Economic Recovery Act of 2008.
FOREIGN SELLERS: Foreign Sellers should consult with an attorney familiar with FIRPTA before
entering into any negotiations or contracts for the sale of their property. If a foreign Seller acts promptly,
such Seller may be able to have the IRS: (1) issue a withholding certificate that either reduces or
eliminates the withholding requirements for the transfer of Seller’s property; (2) make an early refund to
Seller of the amount withheld; or (3) establish that no gain is recognized under pertinent provisions of the
Internal Revenue Code or the provisions of any United States treaty.
If one or more foreign persons and one or more U.S. persons jointly transfer a U.S. real property interest,
the amount realized from the transfer must be allocated among the transferors based on their capital
contribution to the property. For this purpose, a husband and wife are treated as having contributed 50%
each unless it is specifically indicated otherwise.EXEMPTIONS: Below are some examples of when the IRS would generally not require withholding under FIRPTA. 1. Buyer is purchasing the property for Buyer’s use as a residence for a certain period of time and the total amount paid for the property is $300,000.00 or less. 2. Either Buyer or Seller applies for and obtains a withholding certificate from the IRS that specifies: (1) Seller is exempt from paying taxes on the gain; or (2) Seller has entered into an agreement with the IRS to pay the tax owed. 3. Gain on the sale is not recognized under certain provisions of the Internal Revenue Code or the provisions of any United States treaty. BUYERS AND SELLERS ARE ADVISED TO SEEK THE ADVICE OF AN ATTORNEY OR TAX PROFESSIONAL REGARDING WHETHER ANY GAIN IS RECOGNIZED UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE AND THE PROCEDURES THAT MUST BE FOLLOWED IF THE BUYER DOES NOT WITHHOLD BASED ON THE FACT THAT NO GAIN IS RECOGNIZED. Neither Fidelity Title Agency Of Alaska nor its employees are qualified to determine the rights and obligations of any particular individual under the Foreign Investment in Real Property Tax Act. If you have any questions regarding the applications of FIRPTA, your obligations under the act or whether you are a foreign person as defined in the act, please seek the advice of an attorney.
SELLER’S AFFIDAVIT
Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real property
interest must withhold tax if the transferor is a foreign person. To inform the transferee that
withholding of tax is not required upon the disposition of a U.S. real property interest located
at__________________________________________________________, by
_____________________________________________________[name of transferors/sellers].
We hereby certify that following (if an entity transferor, on behalf of the transferor):
This section for individual transferor
1. We are not a non-resident alien for purposes of U.S. income taxation.
2. Our U.S. taxpayer identification number (social security number) is
Our U.S. taxpayer identification number (social security number) is
3. Our home address is:
This section For Corporation, Partnership, Trust or Estate Transferors;
1. [name of transferor] is not a
foreign Corporation, foreign partnership, foreign trust, or foreign estate as defined in the Internal
Revenue Code and Regulations.
2. Said transferor’s U.S. employer’s identification number is
3. It’s office address is:
4. I, the undersigned individual, declare that I have authority to sign this document on
behalf of _____________________________________________________________
[name of transferor].
This Section For All Transferors
________________________ [name of transferor] understands that this certification may be
disclosed to the Internal Revenue Service by transferee and that any false statement I have made
here could be punished by fine, imprisonment, or both. Under penalties of perjury we declare
that we have examined this certification and to the best of our knowledge and belief, it is true,
correct and complete.
Date:
Seller
Page 1 of 1State of Alaska
Residential Real Property Transfer Disclosure Statement
Prepared in compliance with Alaska Statute (AS) 34.70.010 - 34.70.200
General Information
AS 34.70.010 requires that before the Transferee/Buyer (hereafter referred to as Buyer) of an interest in residential
real property makes a written offer, the Transferor/Seller (hereafter referred to as Seller) must deliver a completed
written disclosure form. This disclosure statement is in compliance with AS 34.70.010. It concerns the residential real
property* located in the Recording District, Judicial
District, State of Alaska.
Legal Description:
Property Address/City/Other:
* Residential real property means any single family dwelling, or two single family dwelling units under one roof, or
any individual unit in a multi-unit structure or common interest ownership community whose primary purpose is to
provide housing. AS 34.70.200(2) and (3).
AS 34.70.020 provides that if a disclosure statement or material amendment is delivered to the transferee
after the transferee has made a written offer, the transferee may terminate the offer by delivering a written
notice of termination to the transferor or the transferor’s licensee within three days after the disclosure
statement or amendment is delivered in person or within six days after the disclosure statement or
amendment is delivered by deposit in the mail.
AS 34.70.040(b) provides that if an item that must be completed in the disclosure statement is unknown or is
unavailable to the Seller, and if the Seller or Seller’s agent has made a reasonable effort to ascertain the
information, the Seller may make an approximation based on the best information available to the Seller or
Seller’s agent. It must be reasonable, clearly labeled as an approximation, and not used to avoid the
disclosure requirements of AS 34.70.010 – AS 34.70.200.
All disclosures made in this statement are required to be made in good faith (AS 34.70.060). The Seller is required to
disclose defects or other conditions in the real property or the real property interest being transferred. To comply,
disclosure need not include a search of the public records, nor does it require a professional inspection of the
property.
If the information supplied in this disclosure statement becomes inaccurate as a result of an act or agreement after the
disclosure statement is delivered to the Buyer, the Seller is required to deliver an amendment to the disclosure
statement to the Buyer. An addendum/amendment form for that purpose may be attached to this disclosure
statement.
Upon delivery to a buyer, any inspection/reports generated by a purchase agreement of this property automatically
becomes an addendum/amendment to the property disclosure.
Exemption for First Sale: Under AS 34.70.120, the first transfer of an interest in residential real property that has
never been occupied is exempt from the requirement for the Seller to complete the Disclosure Statement.
Waiver by Agreement: Under AS 34.70.110, completion of this disclosure statement may be waived when
transferring an interest in residential real property if the Seller and Buyer agree in writing. Signing this waiver does not
affect other obligations for disclosure.
Violation or Failure to Comply: A person who negligently violates or fails to perform a duty required by
AS 34.70.010 - AS 34.70.200 is liable to the Buyer for actual damages suffered by the Buyer as a result of the
violation or failure. If the person willfully violates or fails to perform a duty required by AS 34.70.010 -AS 34.70.200,
the Seller is liable to the Buyer for up to three times the actual damages. In addition to the damages, a court may also
award the Buyer costs and attorney fees to the extent allowed under the rules of court.
/ / / /
Seller’s Initials Date Property Address Buyer’s Initials Date
08-4229 (Rev. 7/08) -1-Seller’s Information Regarding Property
Property Type (check one):
Single Family Zero Lot Line/Town House Condominium Townhome/PUD
Duplex (Including Single Family with an Apartment)
Other (please specify)
Do you currently occupy the property? Yes No If Yes, how long?
If not a current occupant, have you ever occupied the property? Yes No If so, when?
Year Property Built: . If property was built prior to 1978, or if Seller has any knowledge of lead-based paint, Seller
must complete Disclosure of Information and Acknowledgment of Lead-based Paint and/or Lead-based Paint Hazards in
accordance with Section 1018 of the Residential Lead-Based Paint Hazard Reduction Act of 1992 (also known as Title X) and
provide Buyer with the “Protect Your Family From Lead in Your Home” pamphlet. The pamphlet can be found on the Internet at
http://www.epa.gov/lead/leadprot.htm.
Construction Overview: Wood Frame Manufactured Modular Other:
Foundation: Masonry Block Poured Concrete Piling Treated Wood Other:
Name of original builder (if known):
Property Features:
Check all items that are built-in and will remain with the property. Also . . .
Circle those checked items that have known defects or malfunctions. Also . . .
Describe the defect or malfunction on the Addendum/Amendment(s) To The Disclosure Statement.
Cooktop Wood Stove(s) # of _____ T.V. Antenna
Oven(s) # of Jetted Tub Satellite Dish
Rods & Blinds Hot Tub Cover Window Screens
Microwave(s) # of Steam Shower Room Security System
Dishwasher Water Softener Smoke Detector(s) # of
Trash Compactor Water Filtering System CO Detectors # of
Garbage Disposal Greenhouse Attached Detached Fire Alarms
Instant Hot Water Dispenser Ventilating System Auto Garage Door Opener(s)
Central Vacuum Installed Heating System # of Opener(s)
Intercom Storage Shed(s) # of Built-In Refrigerator
Paddle Fan(s) # of Built-In Barbecue Other
Comments:
Structural Components:
Check only those items that have known defects, malfunctions, or have had major repairs performed within the last five years.
Also . . .Describe the defect, malfunction, or repair on the Addendum/Amendment(s) To The Disclosure Statement.
Fences/Gates Rain Gutters Insulation Electrical Systems Electronic Air Cleaner
Driveways Exterior Walls Woodstove(s) Sewage Systems
Heat Recovery
# of _____
Private Walkways Interior Walls Water Supply
Fireplace(s) Ventilator System
Retaining Walls Floors # of _____ Garage
Gas Starter Swimming Pool
Foundation Ceilings Garage Floor Drain
Chimneys Mechanical
Crawl Space Doors Carport
Plumbing Systems Filtration
Roof Windows Washer/Dryer Hook-ups
Heating Systems
Patio/Decking Skylights Pool Cover
Humidifier
Solar Panels
Slabs Venting Wind Generators Air Conditioner Hot Water Heater
Other items not covered above? _________________________________________________________________ _______ ___
Comments: __________________________________________________________________________ ___________________
/ / / /
Seller’s Initials Date Property Address Buyer’s Initials Date
08-4229 (Rev. 7/08) -2-Documentation: Check the documents for the subject property that the seller has available for review:
Engineer/Property/Home Written Agreements with Party Wall Agreement
Inspection Report(s) Adjacent Property Owners Lease/Rental Agreement
Title Information Energy Rating Certificate or PUR-101 Soils Test
As-Built Survey Resale Certificate Well Log and Water Tests
Certificate of Occupancy or PUR-102 Water Rights Certificate Hazardous Materials Test(s)
Deed Restrictions Subdivision Covenants/Restrictions Other
Other
Additional Information:
Supply information for the following items: Yes No
To the best of your knowledge, has the property been inspected by an engineer/home inspector in the last
5 years?…………………………………………………………………………………………………………………………..
Drainage:
Are you aware of ever having any water in the crawl space, basement, or lower level?.................................
If Yes, how has the problem been resolved?
Sump Pump(s) Curtain Drain Rain Gutter/Extension Other ____________________
When was problem resolved? ___________________________________________________________
Location of each sump pump: ___________________________________________________________
To where does the water drain after it leaves the sump pump? _________________________________
If gutters, where do downspouts discharge? ________________________________________________
Is there a floor drain in the structure, including garage?……………………………………………………….….
If Yes, where is it located and where does it drain to? ________________________________________
Roof or Other Leakage:
Type: Asphalt/Composition Shingle Cedar Shake Built-up Metal Other __________
Age: years. Location of attic access? ____________________________________
Are you aware of any ice damming on the roof? …………………………………………………………………..
If Yes, provide location. ________________________________________________________________
Are you aware of any water leaking into the home? i.e., windows, lights, fireplace, etc. ……………………..
If Yes, provide location. ________________________________________________________________
Fireplace and/or Woodstove: Date chimney(s) last cleaned? Who cleaned? _______________
Heating System(s):
Mark all types that apply: Hot Water Baseboard Forced Air Radiant Heat Electrical Heat
Wood Stove Other ___________________________________
Age: years. Last Cleaned: Last Inspected: _________________
Source: Natural Gas Electric Propane Tank leased or owned? Wood Coal
Oil with gallon storage which is Buried Above Ground Other ____________
Age of Tank? years.
Hot Water Heater:
Age: years. Capacity: gallons. Type: Gas Electric Other ________
Water Supply:
Type: Public Private Community Cistern/Water Tank If Cistern/Water Tank: Size
Other
If Private: Well Depth: feet. Flow Rate: gallons per minute. Date Tested: .
Have you had any problems with your water supply?......................................................................................
Has the water supply been tested in the past 12 months?..............................................................................
If Yes, attach all documentation from all tests.
Are you aware of any contaminants in your water supply, to include but not limited to E-coli, nitrates,
heavy metals, arsenic or other contaminants? ……………………………………………………………........... .
Has the well failed while you have owned the property?................................................................................ .
Have you ever had a well pump problem or failure?........................................................................................
Do you supply water to, or receive water from others?....................................................................................
If Yes, is there a recorded agreement?............................................................................................................
Do you have a water rights certificate for this property?…………………………………………………………. .
/ / / /
Seller’s Initials Date Property Address Buyer’s Initials Date
08-4229 (Rev. 7/08) -3-Additional Information (Continued):
Sewer System: Yes No
Type: Public Private Community Other ______________________________
Does your sewer system have a lift station/lift pump? .....................................................................................
If Private: Septic Tank Holding Tank Other: ____________________________________
Drainfield System: Bed Trench Mound Pit Crib Other _______________
Innovative Sewer System: Intermittent Sand Filter Biocycle Recirculating Upflow Filter
Secondary sewer treatment plant Other __________________
Has the sewer system failed while you owned the property? ..........................................................................
If Yes, explain: _______________________________________________________________________
Age of sewer system: ________ Location: _________________________________________________
Have you had any work maintenance or inspections done on the sewer system during your ownership? .....
If Yes, explain: _______________________________________________________________________
Approval/Certification source (and date if known): ____________________________________________
Are you aware of any abandoned sewer systems, leachfields, cribs, etc. on the property?............................
Freeze-ups:
Have you had any frozen water lines, sewer lines, drains, or heating systems?..............................................
If yes, please explain. __________________________________________________________________
Are there any heat tapes, heat lamps, or other freeze prevention devices? ….……………………………......
Location, and explain use. _______________________________________________________________
Average Annual Utility Costs:
Gas $ Company/Source: _________________________________
Electric $ Company/Source: _________________________________
Oil $ /Gallons: Company/Source: _________________________________
Propane $ Company/Source: _________________________________
Wood $ Company/Source: _________________________________
Coal $ Company/Source: _________________________________
Water $ Company/Source: _________________________________
Sewer $ Company/Source: _________________________________
Refuse $ Company/Source: _________________________________
Other $ Company/Source: _________________________________
To the best of your knowledge, are you aware of any of the following conditions with respect to the subject property? If answer is
“Yes,” indicate the relevant item number and explain the condition on the Addendum/Amendment(s) to the Disclosure Statement.
Title: Yes No
1. Do you know of any existing, pending, or potential legal action(s) concerning the property? .........................
2. Do you know of any street or utility improvements planned that will affect the property?................................
3. Road maintenance provided by? __________________________________________________________
4. Is the property currently rented or leased? ......................................................................................................
If Yes, expiration date: / /
5. Is there a homeowner’s association (HOA) for the property?.........................................................................
If Yes, HOA name: HOA Telephone: ____________________
Mandatory Voluntary Inactive Monthly Dues Amount: $ per ____________
Are there any levied or pending assessments?..............................................................................................
Who is responsible for issuing the resale certificate?
Name: Telephone:______________________________________
Setbacks/Restrictions:
6. Have you been notified of any proposed zoning changes for the property?....................................................
7. Are you aware of features of the property shared in common with adjoining property owners, such as
walls, fences, and driveways, whose use or responsibility for maintenance may affect the property?............
8. Are there subdivision conditions, covenants, or restrictions? ..........................................................................
9. Are you aware of any violations of building codes, zoning, setback requirements, subdivision covenants,
borough, or city restrictions on this property? ..................................................................................................
10. Are you aware of any nonconforming uses of this property?...........................................................................
/ / / /
Seller’s Initials Date Property Address Buyer’s Initials Date
08-4229 (Rev. 7/08) -4-Additional Information (Continued):
Yes No
11. Are you aware of any deed, or other private restrictions on the use of the property?......................................
12. Are you aware of any variances being applied for, or granted, on this property?............................................
13. Are you aware of any easements on the property? .........................................................................................
Encroachments:
14. Does anything on your property encroach (extend) onto your neighbor’s property? .......................................
15. Does anything on your neighbor’s property encroach onto your property? .....................................................
Environmental Concerns:
16. Are you aware of any substances, materials, or products that may be an environmental hazard such as
asbestos, formaldehyde, radon gas, lead-based paint, fuel or chemical storage tanks, contaminated soil,
water or by-products from the production of methamphetamines on the subject property? ............................
16a. Are you aware of any mildew or mold issues affecting this property? .............................................................
17. Are you aware of any underground storage tanks on this property, other than previously referenced fuel
or septic tanks? Number of tanks: _________...............................................................................................
18. Are you aware if the property is in an avalanche zone/mudslide area?...........................................................
19. Are you aware if the property has flooded? ....................................................................................................
Flood zone designation:__________________________________________________________________
20. Are you aware of any erosion/erosion zone or accretion affecting this property?...........................................
21. Are you aware of any damage to the property or any of the structures from flood, landslide, avalanche,
high winds, fire, earthquake, or other natural causes? ....................................................................................
22. Have you ever filed an insurance claim for any environmental damage to the property? ...............................
23. Are you aware of a waste disposal site or a gravel pit within a one-mile radius of the property?....................
Soil Stability:
24. Are you aware of any debris burial or filling on any portion of the property?.................................................. ..
25. Are you aware of any permafrost or other soil problems which have caused settling, slippage, sliding,
or heaving that affect the improvements of the property?.. ……………………………………………………….
26. Are you aware of any drainage, or grading problems that affect this property?...............................................
Construction, Improvements/Remodel:
27. Have you remodeled, made any room additions, structural modifications, or improvements?........................
If Yes, please describe. Was the work performed with necessary permits in compliance with building
codes? .............................................................................................................................................................
Was a final inspection performed, if applicable?..............................................................................................
28. Has a fire ever occurred in the structure?........................................................................................................
Pest Control or Wood Destroying Organisms:
29. Are you aware of any termites, ants, insects, squirrels, vermin, rodents, etc. in the structure? ......................
a. If Yes, what type?
b. If Yes, where?
30. Has there been damage in the past resulting from termites, ants, insects, squirrels, rodents, etc. in the
structure?.........................................................................................................................................................
a. If Yes, when?
b. If Yes, what type?
c. If Yes, where?
d. If Yes, describe what was done to resolve the problem:
Other:
31. Are you aware of any murder or suicide having occurred on the property within the preceding 3 years?......
32. Are you aware of any human burial sites on the property?.............................................................................
/ / / /
Seller’s Initials Date Property Address Buyer’s Initials Date
08-4229 (Rev. 7/08) -5-Additional Information (Continued): Yes No
33. Noise
a. Are you aware of any noise sources that may affect the property, including airplanes, trains, dogs,
traffic, race tracks, neighbors, etc? ..........................................................................................................
b. If Yes, explain:
34. Pets
a. Have there been any pets/animals in the house? .....................................................................................
b. If Yes, what kind?
I / We have completed this disclosure statement according to AS 34.70.010 - AS 34.70.200 and these instructions,
and the statements are made in good faith and are true and correct to the best of my/our knowledge as of the date
signed. I/We authorize any licensees involved or participating in this transaction to provide a copy of this statement to
any person or entity in connection with any actual or anticipated transfer of the property or interest in the property.
Seller: Date:
Seller: Date:
Buyer’s Notice and Receipt of Copy
Transferee (Buyer) Awareness Notice: Under AS 34.70.050, Transferee (Buyer) is independently responsible for
determining whether a person who has been convicted of a sex offense resides in the vicinity of the property that is
the subject of the Transferee’s (Buyer’s) potential real estate transaction. This information is available at the following
locations: Alaska State Trooper Posts, Municipal Police Departments, and on the State of Alaska, Department of
Public Safety Internet site: www.dps.state.ak.us.
Transferee (Buyer) Awareness Notice: Under AS 34.70.050, Transferee (Buyer) is independently responsible for
determining whether, in the vicinity of the property that is the subject of the transferee's potential real estate
transaction, there is an agricultural facility or agricultural operation that might produce odor, fumes, dust, blowing
snow, smoke, burning, vibrations, noise, insects, rodents, the operation of machinery including aircraft, and other
inconveniences or discomforts as a result of lawful agricultural operations.
The Buyer is urged to inspect the property carefully and to have the property inspected by an expert. Buyer
understands that there are aspects of the property of which the Seller may not have knowledge and that this
disclosure statement does not encompass those aspects. Buyer also acknowledges that he/she has read and
received a signed copy of this statement from the Seller or any licensee involved or participating in this transaction.
Buyer: Date:
Buyer: Date:
/ / / /
Seller’s Initials Date Property Address Buyer’s Initials Date
08-4229 (Rev. 7/08) -6-You can also read
