1. Unless required to do so within a shorter time by supreme court rule 96, a broker appointed under subsection 2 of section 528.740 to offer heirs' property for open-market sale shall file a report with the court no later than seven days after receiving an offer to purchase the property for at least the value determined under section 528.720 or 528.740 . 2. The report required under subsection 1 of this section shall contain the following information: (1) A description of the property to be sold to each buyer; (2) The name of each buyer; (3) The proposed purchase price; (4) The terms and conditions of the proposed sale, including the terms of any owner financing; (5) The amounts to be paid to lienholders; (6) A statement of contractual or other arrangements or conditions of the broker's commission; and (7) Other material facts relevant to the sale.
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