Agreement For Purchase & Sale Of Real Estate
Agreement dated this _________________ day of
__________________by and between
hereinafter "Seller" whose address is
hereinafter "Buyer" (and/or assigns or nominees) whose address is
1. The Property.
The parties hereby agree that Seller will sell and Buyer will buy the following
property, located in and situate in the County of _____________, state of
known by street and address as
The sale shall also include all personal property and
specifically excluded, all other items will be included, whether or not affixed
the property or structures. Seller expressly warrants that property,
or structures, the appliances, roof, plumbing, heating and/or ventilation
systems are in good
and working order. This clause shall survive closing of title.
2. Purchase Price.
The total purchase price to be paid by buyer will be $____________________
payable as follows:
Non-refundable earnest money deposit $____________________
Balance due at closing $____________________
Owner financing from seller $____________________
New Loan $____________________
Subject to existing loans $____________________
Sale price is subject to appraisal by buyer and/or agent of buyer's choice.
3. Earnest Money
The buyer's earnest money shall be held in escrow by agent of buyer's choice.
Upon default of
this agreement, seller shall retain earnest money as his sole remedy without
between the parties.
4. New Loan
The agreement is contingent upon buyer's ability to obtain a new loan in the
amount of $___________.
Buyer is not required to accept any loan with interest rate exceeding _________%
___________ years or pay any closing costs or points exceeding $___________.
Buyer shall provide
seller with written proof of a loan commitment on or before __________, 20 ___.
5. Seller Financing.
Buyer shall execute a promissory note in the amount of $____________. In case of
shall be against the property and there shall be no personal resource against
the borrower. As
security for performance of the promissory note, buyer shall provide the seller
a mortgage, deed
of trust or other customary security agreement which shall be subordinate to a
new first mortgage
not to exceed $________________________.
Closing will be held be on or about ____________, 20_________, at a time and
place designed by
buyer. Buyer shall choose the escrow, title and/or closing agent. Seller agrees
title by a general warranty deed.
Seller shall surrender possession to the property in broom clean condition, and
free of all personal
items and debris on or before ________________, 20_____. (possession date) In
the event possession
is not delivered at closing, buyer shall withhold proceeds from the sale in the
$______________ as security. Seller shall be liable for damages in the amount of
$_______ per day
for each day the property is occupied beyond the possession date. This paragraph
shall survive the
closing of title.
8. Execution In Counterparts
This agreement may be executed in counterparts and by facsimile signatures. This
become effective as of the date of the last signature.
This agreement is subject to the final inspection and approval of the property
by the buyer in writing
on or before ________________, 20_______.
Buyer shall be entitled a key and be entitled to access to show partners,
lenders, inspectors and/or
contractors and/or contractors prior to closing. Buyer may place an appropriate
sign on the property
prior to closing for prospective tenants and/or assigns.
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