Model Home Sales Agreement

MODEL HOME SALES AGREEMENT

This Model Home Sales Agreement (the "Agreement") is made effective as of , by and between Seller: with address , and Buyer: with address .

WHEREAS

WHEREAS, Seller is the owner of the property commonly known as (the "Property"), which has been used, displayed, and maintained as a model home by Seller; and

WHEREAS, Buyer wishes to purchase the Property, including those fixtures, improvements, and furnishings expressly identified in this Agreement, and Seller is willing to sell the Property on the terms and subject to the conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties agree as follows:

PROPERTY DESCRIPTION

The Property subject to this Agreement is described as:

SCOPE OF WORK

Buyer and Seller agree that certain work, adjustments, and removal or inclusion of model furnishings may be performed prior to closing. Describe all such work, responsibilities, allowances, and schedule below.

PURCHASE PRICE AND PAYMENT TERMS

Purchase Price: Buyer agrees to pay Seller the total purchase price of (the "Purchase Price"), subject to the adjustments and prorations set forth below.

Due on or before .

Balance and Closing: The balance of the Purchase Price, less deposits and credits, shall be paid at closing, subject to adjustments and prorations. If Buyer obtains financing, Buyer shall make best efforts to secure financing and notify Seller in writing of loan approval status in accordance with the schedule in this Agreement.

CLOSING AND CONVEYANCE

Closing Date: The closing shall occur on or before , unless extended by mutual written agreement.

Conveyance: At closing Seller shall convey marketable title by general warranty deed (or other deed as agreed) free of liens and encumbrances except those accepted by Buyer in writing, and subject to permitted exceptions. Title shall be evidenced by a standard owner’s title insurance policy at Seller's expense, unless otherwise agreed in writing.

FIXTURES, FURNISHINGS AND INVENTORY

Seller represents that certain fixtures, equipment, and model furnishings are included in the sale as set forth below. Items not listed are excluded and remain Seller's property unless removed prior to closing with Buyer’s consent.

INSPECTIONS, REPRESENTATIONS AND WARRANTIES

Buyer shall have the right to inspect the Property within days following acceptance of this Agreement. Seller represents that, to Seller’s knowledge, the Property is not subject to undisclosed structural defects other than as disclosed in writing to Buyer prior to execution.

Warranties: Except for any express manufacturer or builder warranties that are assignable and identified in writing, the Property is sold in its present condition. Seller shall assign to Buyer any transferable builder warranties and shall deliver documentation at closing where available.

RISK OF LOSS; DAMAGE PRIOR TO CLOSING

If the Property is materially damaged prior to closing by fire or other casualty, Seller shall notify Buyer promptly. Buyer may elect, by written notice within days, to (a) proceed to closing with an agreed credit for repairs, or (b) terminate this Agreement and receive return of deposits, unless Seller elects to repair such damage at Seller's expense prior to closing.

TAXES, PRORATIONS AND HOA

Real property taxes, assessments, and any homeowner association dues shall be prorated as of the closing date. Seller shall be responsible for any undisclosed special assessments levied prior to closing.

Yes No

TERM AND TERMINATION

Term: This Agreement shall commence on the Effective Date set forth above and shall terminate upon closing and recordation of the deed or upon earlier termination in accordance with this Agreement.

Termination for Convenience or Default: Either party may terminate this Agreement upon giving written notice to the other party if the other party materially breaches this Agreement and such breach is not cured within days after receipt of written notice specifying the breach.

CONFIDENTIALITY

Each party shall keep confidential all non-public information obtained from the other party in connection with negotiations and performance under this Agreement, including pricing, upgrades, and inventory lists, except to the extent disclosure is required by law or necessary to effectuate closing or to professional advisors who agree to maintain confidentiality. Breach of this confidentiality obligation shall entitle the non-breaching party to injunctive relief and any other remedies available at law or in equity.

GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of laws principles.

ENTIRE AGREEMENT

This Agreement, including any exhibits and addenda executed by the parties, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written. No amendment, modification, or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties.

MISCELLANEOUS

Notices required or permitted under this Agreement shall be in writing and delivered to the addresses set forth above or to such other address as either party may designate by written notice. Headings are for convenience only and shall not affect interpretation.

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