Sample Purchase Agreement
1. PURCHASE AGREEMENT- Page 1of ___
2. Address_________________________
3. Date____________________________
4. The sum of ____________________________________________Dollars ($__________) By
5. (check one)
CHECK
CASH
NOTE
6. as earnest money to be deposited upon acceptance of Purchase Agreement by all parties, on or
7. before the third business day after acceptance, in the trust account of listing agent, unless
8. otherwise agreed into in writing, but to be returned to Buyer if Purchase Agreement is not
9.accepted by Seller. Earnest money is part payment for the purchase of the property located at
10.Street Address: _______________________________
11. City of ______________________, county of __________________________________
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12. In the State of, ________________________ legally described as _________________,
13. including all fixtures on the property, if any, owned by Seller and used and located on said
14.property, including but not limited to plants and trees; doors, screens and window shades;
15.attached lighting fixtures; plumbing fixtures and water heater; built in air conditioning
16.equipment, electronic air filter, water softener; (check one)
OWNED
RENTED
17.
NONE
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18. built in humidifier and dehumidifier; liquid fuel tanks and controls (check one if the property
19. of Seller),
OWNED
RENTED
NONE
20. sump pump; attached equipment including jacks and wiring; BUILT-INS: including but not
21.limited to dishwashers, garbage disposals, ovens, and intercoms; ATTACHED: including but
22.not limited to carpeting; mirrors and all controls; smoke detectors; doors AND the following
23.personal property: ________________________________________
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24. All of which property Seller has this day agreed to sell to Buyer for sum of ($________)
25._______________________Dollars, which Buyer agrees to pay in the following manner:
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26. a. Cash of at least ________ percent (%) of the sale price, which includes the earnest money:
27.
PLUS
28. b. Financing, the total amount secured against this property to fund this purchase, not to
29.exceed ______________ percent (%) of the sale price.
a first mortgage
30. Such financing shall be (check one)
31.
a contract for deed;
Or a first mortgage with subordinate financing,
32. as described in the attached Addendum: (check one)
33.
Conventional
FHA
DVA
Contract for Deed
Other ___________
34. The date of closing shall be ____________________, 20__________________________
35. This Purchase agreement (check one)
IS
IS NOT
36. subject to a Contingency Addendum for sale of Buyer’s property.
37. (If answer is IS, see attached Addendum.)
38. (If answer is IS NOT, the closing of Buyer’s property if any, may still affect Buyer’s ability to
39. obtain financing, if financing is applicable.)
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Sample Purchase Agreement
40. PURCHASE AGREEMENT- Page 2 of ____
41. Address______________________________
42. Date_________________________________
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43. This Purchase Agreement (check one)
IS
IS NOT
44. subject to cancelation of a previously written purchase agreement
45. dated________________________________________________
46. (IF answer is IS, said cancellation shall be obtained no later than _________, 20___________.
47. If said cancellation is not obtained by said date, this Purchase Agreement is canceled. Buyer
48. and Seller shall immediately sign a Cancellation of Purchase Agreement confirming said
49.cancellation and directing all earnest money paid to be refunded to Buyer.)
50. Buyer has been made aware of the availability of property inspections.
51. Buyer (check one)
ELECTS
DECLINES to have a property inspection performed at
52.Buyer’s expense.
53. This Purchase Agreement (check one)
IS
IS NOT subject to an Inspection
44.Contingency Addendum. (If answer is IS, see attached Addendum)
45. DEED/MARKETABLE TITLE: upon performance by Buyer, Seller shall deliver a
46. (Check one)
WARRANTY or
OTHER: _________ Deed joined in by spouse, if
47.any, conveying marketable title, subject to
48. a. building and zoning laws, state and federal regulations;
49. b. restrictions related to use or improvement of the property without forfeiture provisions;
50. c. reservations of any mineral rights given by the State;
51. d. utility and drainage easements which do not interfere with existing improvements;
52. e. rights of tenants a follows_____________________________________________________
53. f. other (must be specific)_______________________________________________________
54. (Check one)
BUYER SHALL PAY
SELLER SHALL PAY on date of closing any
55.owed real estate taxes or special assessments.
56. As of the date of this Purchase Agreement, Seller represents that Seller
57. (Check one)
HAS
HAS NOT received a notice regarding any new improvement project
58.from any assessing authorities, the costs of which project may be assessed against the property.
59. Any notice received by Seller after the date of this Purchase Agreement and before closing
60.shall be disclosed to Buyer immediately. If such notice is issued after the date of this Purchase
61.Agreement and on the or before the date of closing, then the parties may agree in writing, on or
62.before the date of closing, to pay, provide for the payment of or assume the special
63.assessments. In the absence of such agreement, either party may declare this Purchase
64.Agreement canceled by written notice to the other party or to the parties’ representative. If the
65.Purchase Agreement is canceled Buyer and Seller shall immediately sign a Cancelation of
66.Purchase Agreement confirming said cancellation and direct earnest money paid to be refunded
67.to Buyer.
68.(Check one) Buyer shall pay
PRORATED FROM DAY OF CLOSING _____12THS OF
69.
ALL
NO real estate taxes due and payable in the year 20____________________
70. (Check one) Seller shall pay
PRORATED FROM DAY OF CLOSING ____12THS OF
71.
ALL
NO real estate taxes due and payable in the year 20____________________
72. Seller states taxes due and payable in the year 20____ is the following homestead
73.classification; (check one)
FULL
PART
NOT APPLICABLE
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Sample Purchase Agreement
74. PURCHASE AGREEMENT- Page 3 of ____
75. Address_______________________________
76. Date__________________________________
77. If part or non homestead classification is check, Seller agrees to pay Buyer at closing
78.$_________toward the non-homestead real estate taxes. Buyer agrees to pay any remaining
79.balance of non-homestead taxes when they become due and payable. Buyer shall pay real estate
80.taxes due and payable in the year following closing and thereafter, the payment of which is not
81.otherwise herein provided. No representations are made concerning the amount of subsequent
82.real estate taxes.
83. POSSESION: Seller shall deliver possession of the property no later than _______________
84.after closing. All interest; unit owner’s associationdues; rents; and charges for water, sewer,
85.electricity and natural gas shall be prorated between the parties as of date of closing. Buyer
86.shall pay Seller for remaining gallons of fuel oil or liquid gas on the day of closing, at the rate
87.of the last fill by Seller. Seller agrees to remove ALL DEBRIS AND PERSONAL
88.PROPERTY NOT INCLUDED from the property by possession date.
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89. TITLE AND EXAMINATION: within a reasonable time period after acceptance of this
90.Purchase Agreement, Seller shall provide one of the following title evidence options, at Seller’s
91.selection, which shall include proper searches covering bankruptcies, state and federal
92.judgments and liens, and levied and pending special assessments to Buyer or Buyer’s
93.designated title service provider:
94.1) A commitment for an owner’s policy of title insurance on a current form issued by
95. licensed insurer to write title insurance in the State. Seller shall be responsible for the
96. title search and exam costs related to the commitment. Buyer shall be responsible for
97. all additional costs related to the issuance of the title insurance policies including but
98. not limited to the premiums, Buyer’s name search and plat drawing, in any. Seller
99. shall surrender a copy of any owner’s title insurance policy and Abstract of Title, if in
100.Seller’s possession or control, for this property to Buyer or Buyer’s designated title
101.service provider.
102.2) An Abstract or Title certified to date if Abstract Property or a Registered Property
103.Abstract (RPA) certified to date if Registered (Torrens) properly. Seller shall pay for
104.the abstracting or RPA costs and surrender any abstract for this property in Seller’s
105.possession or control to Buyer’s designated title service provider. If property is
106.Abstract and Seller does not have an Abstract of Title, Option (1) will automatically
107.apply.
108. Seller shall use Seller’s best efforts to provide marketable title by the date of closing. In the
109.event Seller has not provided marketable title by the date of closing, Seller shall have an
110.additional 30 days to make title marketable, or in the alternative, Buyer may waive title
111.defects by written notice to Seller. In addition to the 30- day extension, Buyer and Seller may,
112.by mutual agreement, further extend the closing date. Lacking such extension, either party
113.may.declare this Purchase Agreement canceled by written notice to the other party, or licensee
114.representing or assisting the other party, in which case this Purchase Agreement is canceled. If
115.either party declares this Purchase Agreement canceled, Buyer and Seller shall immediately
116.sign a Cancellation of Purchase Agreement confirming said cancellation and directing all
117.earnest money paid to be refunded to Buyer.
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Sample Purchase Agreement
118. PURCHASE AGREEMENT- Page 4 of ____
119. Address______________________________
120. Date__________________________________
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121. SUBDIVISION OF LAND: If this sale constitutes or requires a subdivision of land owned
122.by Seller, Seller shall pay all subdivision expenses and obtain all necessary governmental
123.approvals. Seller warrants that the legal description of the real property to be conveyed has
124.been or shall be approved for recording as of the date of closing. Seller warrants that the
125.buildings are or shall be constructed entirely within the boundary lines of the property. Seller
126.warrants that there is a right of access to the property from a public right-of-way. These
127.warranties shall survive the delivery or the deed or contract for deed.
128. Seller warrants that prior to the closing, payment in full will have been made for all labor,
129.materials, machinery, fixtures or tools furnished within the 120 days immediately preceding
130.the closing in connection with construction, alteration or repair of any structure on, or
131.improvement to, the property.
132. Seller warrants that Seller has not received any notice from any governmental authority as to
133.condemnation proceedings, or violation of any law, ordinance or regulation. If the property is
134.subject to restrictive covenants, Seller warrants that Seller has not received any notice from
135.any person or authority as to a breach of the covenants. Any such notices received by Seller
136.shall be provided to Buyer immediately.
137. Seller agrees to allow reasonable access to the property for performance of any surveys or
138.inspections agreed to herein.
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139.RISK OF LOSS: If there is any loss or damage to the property between the date hereof and
140.the date of closing for any reason, including fire, vandalism, flood, earthquake or act of God,
141.the risk of loss shall be on Seller. If the property is destroyed or substantially damaged before
142.the closing date, this Purchase Agreement is canceled, at Buyer’s option, by written notice to
143.Seller or licensee representing or assisting Seller. If Buyer cancels this Purchase Agreement,
144.Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement confirming
145.said cancellation and directing all earnest money paid to be refunded to Buyer.
146. TIME OF ESSENCE: Time is of the essence in this Purchase Agreement.
147. ENTIRE AGREEMENT: This Purchase Agreement, any attached exhibits and any addenda
148.or amendments signed by the parties shall constitute the entire agreement between Seller and
149.Buyer and supersedes any other written or oral agreements between Seller and Buyer. This
150.Purchase Agreement can be modified or canceled only in writing signed by Seller and Buyer
151.or by operation of law. All monetary sums are deemed to be United States currency for
152.purposes of this Purchase Agreement. Buyer or Seller may be required to pay certain closing
153.costs, which may effectively increase the cash outlay at closing or reduce the proceeds from
154.the sale.
155. ACCEPTANCE: To be binding, this Purchase Agreement must be fully executed by both
156.parties and a copy must be delivered.
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Sample Purchase Agreement
157. PURCHASE AGREEMENT- Page 5 of ____
158. Address______________________________
159. Date__________________________________
160.DEFAULT: If either Buyer or Seller defaults in any of the agreements hereunder or there
161.exists an unfulfilled condition after the date specified for fulfillment, there may be provisions
162.to this Purchase Agreement under State Law to seek cancelation or compensation for breach
163.of contract.
164. NOTICE REGARDING PREDATORY OFFENDER INFORMATION: Information
regarding the predatory offender registry and persons registered with the predatory offender
registry under State Law may be obtained by contacting the local law enforcement offices in the
community where the property is located or the State Department of Corrections.
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165. ENVIRONMENTAL CONCERNS: To the best of Seller’s knowledge, there are no
166.hazardous substances or underground storage tanks except herein noted:
167._____________________________
168. SELLER WARRANTS THAT THE PROPERTY IS EITHER DIRECTLY OR
169.INDIRECTLY CONNECTED TO:
CITY
SEWER
YES
NO (OR) CITY
170.WATER
YES
NO
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171. PRIVATE SEWER SYSTEM SELLER CERTIFIES THAT SELLER (check one)
172.
DOES
DOES NOT - KNOW OF A PRIVATE SEWER SYSTEM ON OR
173.SERVING THE PROPERTY. (If answer is DOES and, see Private Sewer System Disclosure
174.Statement.) PRIVATE WELL SELLER CERTIFIES THAT SELLER (check one)
175.
DOES
DOES NOT - KNOW OF A WELL ON OR SERVING THE PROPERTY.
176.(If answer is DOES and well is located on the property, see Well Disclosure Statement.)
177.IF A WELL OR PRIVATE SEWER SYSTEM EXISTS ON THE PROPERTY, BUYER
178.HAS RECEIVED A WELL DISCLOSURE STATEMENT AND/OR A PRIVATE SEWER
179.SYSTEM DISCLOSSURE STATEMENT.
180. THIS NOTICE DOES NOT SATISFY STATUTORY DISCLOSURE LAWS
181._____________________________________ Licensee-(check one)
182.
Seller’s Agent
Buyer’s Agent
Dual Agent
Facilitator
183._____________________________________Real Estate Company (check one)
184. Buyer’s Agent
Dual Agent
Seller’s Agent
Facilitator
185._____________________________________ Licensee- (check one)
186.
Seller’s Agent
Buyer’s Agent
Dual Agent
Facilitator
187._____________________________________Real Estate Company (check one)
188.
Buyer’s Agent
Dual Agent
Seller’s Agent
Facilitator
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Sample Purchase Agreement
189. PURCHASE AGREEMENT- Page 6 of ____
190. Address_______________________________
191. Date__________________________________
192. SELLER WARRANTS THAT CENTRAL AIR-CONDITIONING, HEATING,
193. PLUMBING AND WIRING SYSTEMS USED AND LOCATED ON SAID PROPERTY
194. SHALL BE IN WORKING ORDER IN THE DATE OF CLOSING, EXCEPT AS NOTED
195. IN THIE PURCHASE AGREEMENT.
196. BUYER HAS THE RIGHT TO A WALK THROUGH REVIEW OF THE PROPERTY
197. PRIOR TO CLOSING TO ESTABLISH THAT THE PROPERTY IS IN
198. SUBSTANTIALLY THE SAME CONDITION AS OF THE DATE OF THIS
199. PURCHASE AGREEMENT.
200. BUYER (check one)
HAS
HAS NOT RECEIVED A SELLER’S PROPERTY
201. DISCLOSURE STATEMENT OR A SELLER’S DISCLOSURE ALTERNATIVES FORM.
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202. BUYER HAS RECEIVED THE INSPECTION REPORTS, IF REQUIRED BY
203.MUNICIPALITY; SELLER AGREES TO NOTIFY BUYER IMMEDIATELY IN
204.WRITING OF ANY SUBSTANTIVE CHANGES FROM ANY PRIOR
205.REPRESENTATIONS REGARDING THE PROPERTY.
206. BUYER ACKNOWLEDGES THAT NO ORAL REPRESENTATIONS HAVE BEEN
207.MADE REGARDING POSSIBLE PROBLEMS OF WATER IN BASEMENT OR
208.DAMAGE CAUSED BY WATER ICE OR ICE BUILDUP ON ROOF OF THE
209.PROPERTY, AND BUYER RELIES SOLELY IN THAT REGARD ON THE FOLLOWING
210.STATEMENT BY THE SELLER.
211. SELLER (check one)
HAS
HAS NOT HAD A WET BASEMENT AND
212. (check one)
H AS
HAS NOT HAD ROOF, WALL OR CEILING DAMAGE
CAUSED BY WATER OR ICE BUILD UP.
213. DUAL AGENCY REPRESENTATION
214. PLEASE CHECK ONE OF THE FOLLOWING SELECTIONS
215.
DUAL AGENCY REPRESENTATION DOES NOT APPLY IN THIS
216. TRANSACTION
217.
DUAL AGENCY REPRESENTATION DOES APPLY TO THIS TRANSACTION
218. With the knowledge and understanding of the explanation below the Seller(s) and Buyer(s)
219.authorize and instruct Broker and its salesperson to act as duel agents in this transaction.
220.1) Confidential information communicated to Broker which regards price, terms, or
221.motivation to buy or sell will remain confidential unless Seller(s) or Buyer(s)
222.instructs Broker in writing to disclose this information. Other information will be
223.shared;
224.2) Broker and its salespersons will not represent the interest of either party to the
225.detriment of the other; and
226.3) Within the limits of dual agency, Broker and its salespersons will work diligently
227.to facilitate the mechanics of the sale.
228. Seller__________________________________ Buyer_______________________________
229. Date___________________________________ Date________________________________
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Sample Purchase Agreement
230. PURCHASE AGREEMENT- Page 7 of ____
231. Address_______________________________
232. Date__________________________________
233. Other addenda may be attached which are made a part of this Purchase Agreement.
234. Enter number of pages in this Purchase agreement including addendums ________________
235. Seller
236. I, the owner of the property, accept this Purchase Agreement and authorize the listing broker
237.to withdraw said property from the market, unless instructed otherwise in writing.
238. I have reviewed all pages of this Purchase Agreement.
239.
If checked, this Purchase Agreement is subject to attached Counteroffer Addendum.
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240._______________________________________
241. (Seller’s Signature)
(Date)
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242.___________________________________________
243. (Seller’s Printed Name)
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244. Buyer
245. I, the Buyer agree to purchase the property for the price and on the terms and conditions set
246. forth above. I have reviewed all pages of this Purchase Agreement.
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247.___________________________________________
248. (Buyer’s Signature)
(Date)
249.___________________________________________
250. (Buyer’s Printed Name)
251. FINAL ACCEPTANCE DATE__________________
252. THIS IS A LEGALLY BINDING CONTRACT BETWEEN BUYER(S) AND SELLER(S).
253. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE
254. PROFESSIONAL.
255. I ACKNOWLEDGE THAT I HAVE RECEIVED AND HAVE HAD THE OPPORTUNITY
256. TO REVIEW THE ARBITRATION DISCLOSURE AND RESIDENTIAL REAL
257. PROPERTY ARBITRATION AGREEMENT, WHICH IS AN OPTIONAL, VOLUNTARY
258. AGREEMENT AND IS NOT PART OF THIS PURCHASE AGREEMENT.
259. SELLER(S) ______________________________ BUYER(S) _______________________
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