EQUITY PURCHASE CONTRACT
THIS CONTRACT is made on this
, 19 , by and between
, referred to as "Seller", whose address is:
, referred to as
whose address is:
consideration of the sum of $
, the receipt of which is hereby acknowledged by Seller, the Seller
agrees to sell and the Buyer agrees to purchase the above described property for
the sum of $
NET TO SELLER and to take title subject ONLY
EXISTING ENCUMBRANCES NOT IN EXCESS OF:
TD $ PAYABLE
DATE 2ND TD $
PAYABLE $ MONTHLY
DATE 3RD TD $
PAYABLE $ MONTHLY
NET amount due SELLER may be deducted all payments on existing encumbrances
through the payments due
, 19 .
Also any, taxes, judgments, assessments bonds and other
if any. Impounds, if any, are to be
assigned without charge to BUYER, in an amount satisfactory to the lending
institution. Any impound shortage
will be deducted from funds due SELLER. SELLER
agrees to execute a Deed in favor of the BUYER after the Fifth (5th) Business
Day period of Right of Rescission.
and Loans are to checked in the name of the BUYER and it is agreed that in the
event that TITLE or Loans fail to be in the agreed condition, that at the
BUYER'S option, the BUYER may record a Deed in favor of the SELLER herein
without liability, and/or rescind this agreement. SELLER has the right to RESCIND this contract within FIVE (5)
Business Days from the above date.
is aware that BUYER may be purchasing property for immediate resale.
SELLER is aware that the above price is below Market Value.
Property MUST appraise at $
. Less than that amount will
be DEDUCTED FROM NET TO SELLER.
pay Escrow charges. BUYER to pay
the Title charges.
agrees to pay for any damage found by termite and roof inspectors.
SELLER also agrees to pay for any damage done to the property that is
caused by the SELLER or their tenants after the date this contract is signed.
Premises are to be left clean and in good repair by the SELLER, and no
real property is to be removed by SELLER. Balance
of funds due the SELLER herein are to be paid after checking the Title and when
the premises are vacated. SELLER
agrees to give possession of the above property to BUYER on or before
. Property shall be
to be shown by the BUYER any time prior to possession date.
SUBJECT TO BUYERS APPROVAL OF LOAN AND TITLE.
IN WITNESS WHEREOF the parties have hereto set their hands and seals the
day and year first above written.
sealed and delivered
the presence of:
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