(a) Unless required to do so within a shorter time by chapter 668, a broker appointed under section 668A-11(b) to offer heirs property for open-market sale shall file a report not later than seven days after receiving an offer to purchase the property for at least the value determined under section 668A-7 or 668A-11.
(b) The report required by subsection (a) 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, without limitation, 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.