Real Estate APA with Addendum

REAL ESTATE AGREEMENT OF PURCHASE AND SALE WITH ADDENDUM

Parties and Effective Date

This Agreement of Purchase and Sale (the Agreement) is entered into by and between Seller Name: and Buyer Name: . The parties agree as follows, effective on the date first executed by the parties below.

Property Identification

Purchase Price and Payment Terms

Purchase Price: $ payable as follows: Earnest Money Deposit: $ to be delivered to Escrow Holder within days of mutual execution. Balance at closing to be paid by wire, cashier's check or other mutually agreed funds.

Key Dates

Closing Date: on or before . Possession to Buyer shall occur on , subject to customary closing adjustments.

Contingencies

Financing Contingency: Buyer shall have days from mutual execution to obtain written loan approval. If Buyer fails to secure financing within the stated period, Seller may terminate this Agreement and receive the earnest money as provided herein, unless the parties otherwise agree in writing.

Inspection Contingency: Buyer shall have days to conduct inspections and to deliver to Seller written notice of any objectionable conditions. Seller shall have the option to cure any defects reasonably requested by Buyer within a commercially reasonable time. If Seller declines or fails to cure, Buyer may elect to terminate and receive return of earnest money, or accept the property as-is.

Title, Survey and Closing Costs

Title: Seller shall convey marketable title by general warranty deed (or other specified deed) subject only to the exceptions set forth in this Agreement. Buyer may obtain a survey at Buyer's expense. Title insurance shall be obtained at the expense.

Closing Costs and Prorations: Real property taxes, assessments, homeowner association charges, rents and other customary items shall be prorated as of the Closing Date. Buyer and Seller agree to allocate transfer taxes, escrow fees and recording fees as follows:

Condition of Property; Disclosures

Seller represents that, to Seller's knowledge, the Property has the following conditions. Each item must be answered by Seller.

Lead-Based Paint (if applicable): Yes No

Known Mold or Water Intrusion: Yes No

Prior Structural or Fire Damage Repaired: Yes No

Addendum

The following addendum(s) are incorporated into this Agreement and form an integral part hereof. Indicate number of pages attached and describe the nature of each addendum.

All addenda are effective as of the Effective Date and are subject to the same representations, warranties and remedies contained in this Agreement.

Default and Remedies

If Buyer fails to timely perform, Seller may pursue all remedies available at law or equity, including retaining the earnest money as liquidated damages if so elected in writing by Seller. If Seller fails to convey marketable title or breaches this Agreement, Buyer may seek specific performance or terminate and recover the earnest money and such other remedies as permitted by law. The parties acknowledge that remedies are cumulative unless otherwise expressly limited in this Agreement.

Representations and Warranties

Seller represents that Seller has full authority to transfer the Property and that there are no undisclosed leases, tenancies, or violations of law affecting the Property except as disclosed. Buyer represents that Buyer's execution of this Agreement constitutes a valid and binding obligation, subject to contingencies expressly set forth herein.

Governing Law; Entire Agreement

This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. This Agreement, together with any attached addenda and exhibits, constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings and agreements, whether written or oral.

Notices

Acknowledgment

By signing below, each party certifies that the party has read and understands this Agreement, has had the opportunity to obtain independent legal advice, and has the authority to execute this Agreement. Each signature below constitutes acceptance of all terms and conditions herein and binds the party to perform its obligations under this Agreement.

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