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.