2005 Idaho Code - 54-2051 — OFFERS TO PURCHASE

                                  TITLE  54
                    PROFESSIONS, VOCATIONS, AND BUSINESSES
                                  CHAPTER 20
                        IDAHO REAL ESTATE LICENSE LAW
    54-2051.  OFFERS TO PURCHASE. (1) A broker or sales associate shall, as
promptly as practicable, tender to the seller every written offer to purchase
obtained on the real estate involved, up until time of closing, and shall
obtain the signature of the seller or seller's agent verifying time and date
such offer was received. A purchase and sale agreement signed by the
prospective buyer shall be deemed in all respects an offer to purchase.
    (2)  Immediately upon receiving any offer to purchase signed and dated by
the buyer and any consideration, a broker or salesperson shall provide a copy
of the offer to purchase to the buyer as a receipt.
    (3)  Upon obtaining a properly signed and dated acceptance of an offer to
purchase, the broker or sales associate shall promptly deliver true and
legible copies of such accepted offer to both the buyer and the seller.
    (4)  The broker or sales associate shall make certain that all offers to
purchase real property or any interest therein are in writing and contain all
of the following specific terms, provisions and statements:
    (a)  All terms and conditions of the real estate transaction as directed
    by the buyer or seller;
    (b)  The actual form and amount of the consideration received as earnest
    money;
    (c)  The name of the responsible broker in the transaction, as defined in
    section 54-2048, Idaho Code;
    (d)  The "representation confirmation" statement required in section
    54-2085(4), Idaho Code, and, only if applicable to the transaction, the
    "consent to limited dual representation" as required in section 54-2088,
    Idaho Code;
    (e)  A provision for division of earnest money retained by any person as
    forfeited payment should the transaction not close;
    (f)  All appropriate signatures; and
    (g)  A legal description of the property.
    (5)  All changes made to any offer to purchase or other real estate
purchase agreement shall be initialed and dated by the parties to the
transaction.