Fill and Sign the Agreement Home Purchase Form

AGREEMENT FOR PURCHASE AND SALE OF SINGLE FAMILY RESIDENCE Seller       Buyer       Address       Address                   City/County/State/Zip City/County/State/Zip Property Address             City/County/State/Zip Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller the real property, herein called the "Property," more particularly described as (legal description): TERMS AND CONDITIONS: 1. Purchase Price. The purchase price for the Property shall be the sum of $ _______________ payable by Buyer to Seller in the manner described herein. 2. Financing Terms. a. $ _________________ Initial deposit delivered by Buyer to Seller contemporaneously with the execution of this Agreement. b. $ _________________ Additional deposit in escrow within _______ days from acceptance. c. $ _________________ Proceeds from new first loan for _________________ years, with interest not to exceed __ %, payable at approximately $ _________________ per month. d. $ _________________ Seller financing; second loan secured by the Property. Payable at $ _________________ per month, or more, including __ % interest, with the balance due __________ years from date of conveyance. A late charge of $ _____________ shall be due on monthly payments _____ days late. e. $ __________________ Total purchase price. 3. Opening of Escrow. An escrow shall be opened to consummate the sale of the Property pursuant to this Agreement at ________________________________________________________________________ within _____ days from the date here of. 4. Conditions of Escrow. The close of such escrow and Buyer's obligation to purchase the Property pursuant to this Agreement are conditioned on: (a) The conveyance to Buyer or his nominee of good and marketable title to the Property, as evidenced by a standard form title insurance policy in the full amount of the purchase price issued by _____________________________________ Title Company, subject only to such liens, encumbrances, clouds, or conditions as may be approved in writing by Buyer. (b) Delivery of possession of the Property to Buyer or his nominee, immediately on close of escrow free and clear of all holdovers and occupancies except as Buyer may waive in writing. - 1 - 5. Closing, Physical Possession. On or before (close date) ___________________ or within __________ days of acceptance, which ever is later, both parties shall deposit with the escrow holder all funds and instruments necessary to complete the sale in accordance with the terms hereof. Physical possession, with all keys and garage door openers, shall be delivered to Purchaser upon recording of the deed. 6. Failure of Condition. Should any of the conditions specified herein above fail to occur within ____ days after the opening of escrow, Buyer shall have the power, exercisable by his giving a written notice to the escrow holder and to Seller, to cancel such escrow, terminate this Agreement, and recover any amounts paid by him to Seller or to the escrow holder on account of the purchase price of the Property. The exercise of such power by Buyer shall not, however, constitute a waiver by him of any other rights he may have against Seller for breach of this Agreement. The escrow holder shall be, and is hereby, irrevocably instructed by Seller on any such failure of conditions and receipt of such notice from Buyer to immediately refund to Buyer all moneys and instruments deposited by him in escrow pursuant to this Agreement. 7. Prorations. Rents, taxes, interest, and other expenses of the Property shall be prorated as of the date of recording of the deed. Security deposits, advance rentals, or considerations involving future lease credits shall be credited to Purchaser. 8. Bonds and Assessments. Any bonds or improvement assessments which are a lien on the Property shall, on close of escrow, be paid by Seller. 9. Broker's Commissions. Any and all commissions due to real estate or other brokers as a result of this sale of the Property shall be paid by Seller. 10. Liquidated Damages. Should Buyer default in the performance of this Agreement, both Buyer and Seller agree by initialing this provision that the amount paid by Buyer to Seller on execution of this Agreement constitutes a reasonable estimate under the circumstances existing at the time this Agreement is made of the damages Seller would sustain because of such default and may be retained by Seller as liquidated damages in the event of any such default. 11. Attorney's Fees. Should any litigation be commenced between the parties hereto concerning the Property, this Agreement, or the rights and duties of either in relation thereto, the party, Buyer or Seller, prevailing in such litigation shall be entitled, in addition to such other relief as may be granted, to a reasonable sum as and for his attorney's fees in such litigation which shall be determined by the court in the litigation or in a separate action brought for that purpose. 12. Entire Agreement. This instrument constitutes the sole and only Agreement between Buyer and Seller concerning the Property and their rights and duties in connection with that Property. Any Agreements or representations between Buyer and Seller regarding those matters are null and void unless expressly set forth in this instrument. IN WITNESS WHEREOF, the Parties have executed this agreement on this ____ day of _________ , 20 __ . Seller _____________________________________ Buyer _____________________________________ - 2 -