Real Estate Model Home

MODEL HOME PURCHASE AGREEMENT

This Model Home Purchase Agreement ("Agreement") is made and entered into on Date: by and between Seller Name: and Buyer Name: .

Parties

Property Identification

Purchase Terms

Financing contingency: Buyer shall have days from mutual execution of this Agreement to obtain a written loan commitment. If written commitment is not obtained within that period, Seller may terminate this Agreement or Buyer may waive the contingency in writing.

Closing & Possession

Estimated Closing Date: . Closing shall occur at:

Possession to Buyer shall be delivered on: , subject to prorations and adjustments as set forth in this Agreement.

Model Home Condition; Personal Property and Inventory

Buyer acknowledges that the Property has been used as a model/display home and may show wear consistent with use. Seller discloses that certain personal property used for staging may be removed prior to closing as set forth in the included inventory. Items included in the sale are listed below.

Disclosures

Lead-Based Paint: Seller discloses that the dwelling was built in Year: .

Lead-Based Paint Present? Yes No

Known Mold or Water Intrusion? Yes No

Prior Material Damage or Major Repairs? Yes No

Representations, Risk of Loss & Warranties

Seller represents that Seller is the lawful owner of the Property and has authority to convey fee simple title free of undisclosed liens except as otherwise disclosed in writing. Risk of loss prior to closing shall remain with Seller. Seller warrants that appliances and systems included in the sale are in operable condition at time of acceptance of this Agreement, except as otherwise disclosed in writing. Any manufacturer warranties for appliances or equipment shall be assignable to Buyer where assignment is permitted by warranty terms; no other express warranties are made except as expressly set forth herein.

Inspections and Acceptance

Buyer, at Buyer’s expense, may perform inspections during the Inspection Period. If Buyer delivers written notice of material defects within the Inspection Period, the parties shall negotiate in good faith to resolve such items. If no agreement is reached, Buyer may terminate this Agreement and receive return of earnest money, or proceed to closing subject to terms herein.

Default and Remedies

If Buyer fails to perform, Seller may retain the earnest money as liquidated damages or pursue specific performance or other remedies permitted by law. If Seller fails to convey, Buyer may seek specific performance or return of earnest money plus reasonable costs. The parties agree that remedies are cumulative and subject to limitation by applicable law.

Closing Adjustments; Costs

Taxes, assessments, association dues, rents and utilities shall be prorated as of the Closing Date. Buyer shall pay customary closing costs, lender fees, and recording fees, and Seller shall pay any real estate commissions unless otherwise agreed in writing.

Notices

Miscellaneous Provisions

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. Entire Agreement: This Agreement, together with any addenda and exhibits signed by the parties, constitutes the entire agreement and supersedes all prior negotiations. Severability: If any provision is held invalid, the remaining provisions shall remain in full force and effect. Attorney Fees: The prevailing party in any action to enforce this Agreement shall be entitled to recover reasonable attorneys' fees and costs as awarded by a court.

Acknowledgment

Each party acknowledges that they have read and understand this Agreement, have had the opportunity to obtain independent legal advice, and that signatures delivered electronically or by facsimile shall be binding as originals.

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