Sample Purchase Agreement
Sample Purchase Agreement 1. PURCHASE AGREEMENT- Page 1of ___ 2. Address_________________________ 3. Date____________________________ 4. The sum of ____________________________________________Dollars ($__________) By 5. (check one) CHECK CASH NOTE 6. as earnest money to be deposited upon acceptance of Purchase Agreement by all parties, on or 7. before the third business day after acceptance, in the trust account of listing agent, unless 8. otherwise agreed into in writing, but to be returned to Buyer if Purchase Agreement is not 9.accepted by Seller. Earnest money is part payment for the purchase of the property located at 10.Street Address: _______________________________ 11. City of ______________________, county of __________________________________ E 12. In the State of, ________________________ legally described as _________________, 13. including all fixtures on the property, if any, owned by Seller and used and located on said 14.property, including but not limited to plants and trees; doors, screens and window shades; 15.attached lighting fixtures; plumbing fixtures and water heater; built in air conditioning 16.equipment, electronic air filter, water softener; (check one) OWNED RENTED 17. NONE PL 18. built in humidifier and dehumidifier; liquid fuel tanks and controls (check one if the property 19. of Seller), OWNED RENTED NONE 20. sump pump; attached equipment including jacks and wiring; BUILT-INS: including but not 21.limited to dishwashers, garbage disposals, ovens, and intercoms; ATTACHED: including but 22.not limited to carpeting; mirrors and all controls; smoke detectors; doors AND the following 23.personal property: ________________________________________ M 24. All of which property Seller has this day agreed to sell to Buyer for sum of ($________) 25._______________________Dollars, which Buyer agrees to pay in the following manner: SA 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.) Page 1 of 7 Sample Purchase Agreement 40. PURCHASE AGREEMENT- Page 2 of ____ 41. Address______________________________ 42. Date_________________________________ SA M PL E 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 Page 2 of 7 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. SA M PL E 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. Page 3 of 7 Sample Purchase Agreement 118. PURCHASE AGREEMENT- Page 4 of ____ 119. Address______________________________ 120. Date__________________________________ PL E 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. SA M 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. Page 4 of 7 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. PL E 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 SA M 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 Page 5 of 7 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. SA M PL E 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________________________________ Page 6 of 7 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. E 240._______________________________________ 241. (Seller’s Signature) (Date) PL 242.___________________________________________ 243. (Seller’s Printed Name) M 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. SA 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) _______________________ Page 7 of 7
© Copyright 2024