Real estate agents all over the US are involved in situations where the standard Purchase Contract does not work without significant modifications.  Below are some terms used in Central Ohio receiver sales our company manages.

This Counteroffer dated November 19, 2008 shall be made part of the Real Estate Purchase Contract dated November 13, 2008 (presented verbally on the same date) for the purchase of XXXXXXXX  XXXXXXX  XXXXXXXX, commonly known as XXX XXXXX Ave, Columbus OH and delivered in writing on November 19, 2008 to Gryphon Asset Management, by and through its principal, Richard Kruse, Receiver for Specific Assets of XXX XXXXX LLC etal., Franklin County Court of Common Pleas case # 08-CV-XXXXXXX.  Any conflict between the terms of this Counteroffer and the terms of the Contract or Addendum previously tendered, the terms herein shall apply.

1. The Real Estate Purchase Contract referenced above is ACCEPTED with the following modifications.
2. Buyer acknowledges that Seller is not in possession of any security deposits therefore no prorations or transfers of same will occur at closing.
3. Buyer acknowledges that Seller may not be in possession of all leases for the location.  Seller will deliver what documentation is available in Sellers records as requested by Paragraph 2 (d) of the Real Estate Purchase Contract Continuation of Offer, however makes no representation or warranty as to the accuracy, scope or validity of the documentation. 
4. Buyer and Seller agree that Seller is a Court Appointee and would have no knowledge regarding the condition of the property, therefore Seller can not provide any representation or warranty of any kind as to condition therefore, Paragraph 11 of the Real Estate Purchase Contract shall be stricken in its entirety.
5. Buyer acknowledges that the property is in Poor Condition and in need of significant repair and renovation to all structures.  Property is being sold AS-IS, WITH NO WARRANTY EXPRESSED OR IMPLIED, including but not limited to working order of electrical, plumbing, HVAC, roofing and/or drainage systems and/or any other system.  Seller shall not purchase any warranties for buyer. 
6. Regardless of Buyer and Seller agreement, this Contract shall be subject to the review and approval of the Franklin County Court of Common Pleas in the certain case styled as Eaton National Bank vs. LNG Resources, case # 08-CV-XXXXXX.
7. Final loan approval, if any needed, must be completed within fifteen (15) days following contract execution and must be completed before Seller shall seek Court Approval.  Failure to notify Seller of Buyers inability to obtain financing within this period shall constitute waiver of the financing contingency without further action by the Buyer.
8. An earnest money deposit of $20,000 shall be made by cash or check within two (2) business days of acceptance of the agreement and shall be held by Gryphon Asset Management, Receiver for XXXXXXXX.
9. Buyer shall either accept the property in its As-Is condition or reject the property in writing within the time periods outlined in Paragraph 3 of the Real Estate Purchase Contract.  Failure to reject the property in writing within said period shall constitute full acceptance of the property by the Buyer.  Seller shall not remedy defects should any exist.
10. Contract shall not be contingent on appraisal or financing.
11. First American Title in Gahanna, Ohio has already begun title review, shall be the issuer of the Title Policy paid for by Seller and shall handle all matters relating to the closing.
12. Seller shall provide a Fiduciary Deed at Closing.
13. Closing shall occur within thirty (30) days following Court Approval.  Time is of the essence on all timeline terms contained herein.  Timeline extensions may be granted at the sole discretion of the Seller/Receiver and may be withheld for any reason.
14. This Real Estate Purchase Contract can not be assigned to another entity or individual.
15. All other Terms of the Contract shall remain the same.
16. This Counteroffer shall remain open until 5pm on November 26, 2008.