Who needs an NPC Form 001 ?
Form NPC Form 001, Real Estate Purchase Addendum, or Fannie Mae purchase addendum, is used by the seller and purchaser of a private property being sold. This form must be completed as a part of, and incorporated into, the Real Estate Purchase Contract, Fannie Mae Form 001.
What is the NPC Form 001 for?
The seller and the purchaser by means of this document agree on the following issues:
-
Acknowledgment of sufficient offer. The amount of the transaction must be indicated.
-
Acceptance of the offer made;
-
Indication of the Settlement Date;
Other provisions to the contract can be indicated in the text of this Real Estate Purchase Addendum as well including closing costs and adjustments, defects in title, condition improvements etc.
Is the NPC Form 001 accompanied by other forms?
There is no need to accompany this Real Estate Purchase Addendum with any other official documents. But, as was mentioned above, this document is only the part of the original Real Estate Purchase Contract and is valid only in correspondence to that one.
When is the NPC Form 001 due?
The due dates of this particular Addendum is the due dates that are indicated in the original Estate Purchase Contract.
How do I fill out NPC Form 001?
The following information must be provided in order to complete the Real Estate Purchase Addendum:
-
The amount of the transaction;
-
The amount of deposit left;
-
The closing date;
-
Details of the financing;
-
The deed restriction indication (if any);
-
Indication of whether the purchaser has previously Fannie Mae property purchased or not;
-
Additional terms or conditions;
Where do I send NPC Form 001?
Once completed, signed, and dated, two copies of this document must be directed to each party to the contract and to their agents.