Buying your first home means signing a small stack of paper. This page breaks down each document — what it is, what it does for you, and what you're actually agreeing to. Read it at your pace. If anything doesn't feel right, call Rick before you sign.
Four numbers tell the story. Each one has rules, protections, and exits behind it — we'll walk through every one below.
Section 5 of the RE-21 gives the seller a second option — they can accept your $220K offer for the house alone, or accept $269,900 for the house plus the adjacent vacant lot. Either way, the seller picks one (or counters).
Five documents cover the entire transaction from how Rick represents you, to what you're offering, to what the seller is required to tell you.
The Idaho Real Estate Commission's pamphlet explaining the different ways a real estate agent can work with you — as your agent, as the seller's agent, or as a neutral. It's required reading before you sign any representation paperwork.
This officially hires Rick Robinson and Real Estate Two70 as your exclusive buyer's agent through June 30, 2026. The fee is paid by the seller — you don't owe Rick anything out of pocket.
The offer itself. Every term — price, financing, contingencies, closing date, what's included, what happens if anything goes wrong. This is the document we're going to take apart section by section below.
What the current owner (Ramon Gomez) knows about the house and is telling you up front. Required by Idaho law. We'll highlight the items worth your inspector's attention below.
Required for any home built before 1978. The seller is telling you what they know about lead paint, and you're being given the right to test for it before closing.
The RE-21 is 10 pages and 51 numbered sections. We'll group them into the parts that matter for you — and translate every legalism into plain English. If anything below isn't crystal clear, that's our problem, not yours. Ask.
This is just the contract telling itself who's in the room.
You're offering $220,000 for the home at 1425 Jefferson Avenue. The seller has three responses available to them: accept, reject, or counter (come back with different numbers).
Inside Section 5 of the agreement, you've also offered an alternative: $269,900 if the seller includes the adjacent lot next door. They can choose either path.
Within 5 business days of the seller accepting your offer, you'll wire $1,000 to Flying S Title and Escrow. This isn't an extra cost — it's a deposit that gets credited back to you at closing as part of your money down.
Why earnest money exists: it shows the seller you're a real buyer. They take the home off the market for you, and your $1,000 is the proof you're committed.
Important: Your earnest money is refundable if you back out for any of the reasons covered in the contingencies below (financing, appraisal, inspection, title, lead paint, seller default). It only becomes non-refundable if you waive those contingencies or simply walk away without cause.
⚠ Wire transfer warning: Real estate wire fraud is real. Never trust wire instructions from an email. When it's time to send the $1,000, we'll call you with Flying S's verified wire details. Call us back at our published number to confirm before you send anything.
You're financing essentially the whole purchase through two loans that work together:
The IHFA second loan is from Idaho Housing & Finance Association — it's a state-backed program designed to help buyers like you get into a first home with little or no cash down. Together, the two loans equal $219,000 of the $220,000 price; the remaining $1,000 is your earnest money.
The "up to" rates matter: if your final locked rate comes in at or below 6.75% on the first loan and 8% on the second, you're committed to proceed. If a lender quotes higher, that's a reason you could exit the contract.
Loan approval timeline: You have 10 business days from the seller accepting your offer to give the seller written confirmation from your lender that you're approved (credit, income, debt ratios, and funds to close).
You've chosen to conduct inspections, which is the right move on any home. Within 10 business days of acceptance, you'll get a licensed inspector through the house and decide whether you're satisfied.
After your inspection, you have three doors you can walk through:
If the seller refuses your repair list (Door 2), you then have 3 more business days to either accept their response, keep negotiating, or terminate and get your money back.
Your lender will require an appraisal of 1425 Jefferson — a licensed appraiser comes out, looks at the home and recent comparable sales, and tells the bank what it's worth.
If the appraisal comes in at or above $220,000: Great. You're committed and the deal moves forward.
If the appraisal comes in below $220,000: You have options:
Within 6 business days of acceptance, Flying S Title will deliver a preliminary title commitment — basically a report showing who legally owns the property, what liens or restrictions are on it, and any easements (utility access, neighbor rights of way, etc.).
You then have 2 business days to read it and raise any objections in writing. If anything is concerning (unpaid liens, encroachments, surprise easements), the seller has 2 business days to fix it. If they can't or won't, you can terminate and get your earnest money back.
At closing, the seller pays for a standard owner's title insurance policy on your behalf. This protects you if it later turns out someone else has a claim on the property.
This home was built before 1978, which means federal law treats it as "Target Housing." Older paint can contain lead, which is especially dangerous for young children and pregnant women.
The seller signed a disclosure saying they have no known lead-based paint hazards in the home. That doesn't mean none exists — just that they're not aware of any.
Your right: You have until June 2, 2026 to bring in a certified lead inspector. If the test comes back positive, you can:
You should also have received an EPA pamphlet called "Protect Your Family from Lead in Your Home." If you didn't, tell Rick — that's a required disclosure.
Beyond the standard built-in stuff (window coverings, garage door opener, light fixtures, water heater, HVAC, etc.), you've explicitly negotiated for:
"Closing" means the day all documents are recorded and the seller's funds are released. That's the moment the home becomes yours. You'll do a walkthrough within 3 business days before closing to make sure the home is in the same condition it was on the day you wrote your offer.
If the home is damaged before closing (fire, water damage, neglect, etc.), you can void the contract — earnest money returned.
If the seller backs out without cause: Your earnest money is returned, the seller pays for any costs you've incurred (inspections, appraisal, title work), and you keep the right to sue for damages if you want.
If you back out for a reason that isn't a covered contingency: The seller can keep your earnest money as their compensation. That's the worst-case scenario from your side — and at $1,000, it's a real cost, but not a catastrophic one.
The RE-21 isn't a trap — it's a structured agreement with multiple ways for you to step back if something isn't right. Here's every protection you have:
If your lender can't approve the loan after honest effort on your part, you can exit.
If the home doesn't appraise for at least $220,000 and the seller won't reduce, you can exit.
10 business days to inspect. If anything's not right, you can exit, renegotiate, or ask for repairs.
2 business days to object to anything weird in the title report. Unresolved issues = you exit.
Test through June 2, 2026. If lead is present, seller either remediates or you exit.
If the home is damaged before closing — fire, water, neglect — you can void the contract.
If the seller doesn't honor their end, you get your money back AND can sue for damages.
One after agreed repairs are done, one 3 days before closing. Verify the home matches your offer.
Six of the eight scenarios above end with your earnest money returned to you. The only way you'd lose the $1,000 is if you simply walk away after all your contingencies are satisfied — which is why we don't let those deadlines pass without making sure you're truly comfortable.
Ramon Gomez (the current owner) filled out the RE-25 disclosure on April 29, 2026. Below are the items that stood out — the good news and the things your inspector should look at carefully during your 10-day inspection window.
Bottom line: The roof and siding are both essentially new, and the seller appears to have proactively addressed every issue they were aware of. The items above aren't deal-breakers — they're exactly the kind of thing your inspection contingency is designed to verify. We'll go through the inspection report with you line by line.
From the moment the seller signs, here's how the next month unfolds.
The seller has until 5:00 PM on Monday, May 25 to accept your offer, reject it, or counter with different terms. We'll let you know the moment we hear.
Flying S Title will send verified wire instructions. Always call us to verify before sending money — wire fraud is rampant in real estate.
You'll have 2 business days after that to object to anything you don't understand or aren't comfortable with.
Your primary inspection window. We'll help you find a great inspector. Plan to attend at the end — you'll learn a lot about your home.
Your lender provides confirmation of credit approval, income verification, and ability to close.
If you'd like to test for lead-based paint, this is the window.
By this point, you're committed to closing. Earnest money becomes non-refundable unless the seller defaults.
Make sure the home is in substantially the same condition as the day you wrote your offer.
Sign closing docs, the seller's funds are released, and 1425 Jefferson Avenue is officially yours.
Don't sign anything you're not 100% comfortable with. Call us — that's what we're here for.