INTRODUCTION: These guidelines are provided to assist Broker and attorneys who are completing the Offer to Purchase and. INTRODUCTION: These guidelines are provided to assist Brokers and attorneys who are completing the Offer to Purchase and Contract—.INTRODUCTION: These guidelines are provided to assist agents and attorneys who are completing the Offer to Purchase and. Chris Barnette and Kandyce Ellis explain the latest OTP. That form is known as the Offer to Purchase and Contract (Standard Form 2T). This form will express the terms of the purchase (purchase price, closing date, etc.) that you are proposing to the seller. Use of Back-up Contract Addendum (NC REALTORS® Standard Form. 2A1-T will be covered in Section 2 with other standard addenda). 3. That form assist you in completing the form. An IOU ( I Owe You ) is a legal document that sets out the details of a loan made between two people, a borrower, and a lender.