Real Estate MOU

REAL ESTATE MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding ("MOU") is made and entered into as of (the "Effective Date") by and between the parties identified below for the purpose of setting forth the principal terms under which the parties will proceed with the proposed acquisition of the real property described herein. This MOU sets forth binding obligations only as expressly stated in the Binding Provisions section; other provisions are non‑binding and intended to guide negotiation of a definitive purchase agreement.

Parties

Property Identification

Transaction Terms

Purchase Price: $ . Buyer shall deliver earnest money in the amount of $ to Escrow Agent within days after the Effective Date.

Proposed Closing Date: . Possession to be delivered to Buyer on unless otherwise agreed in the purchase agreement.

Financing contingency: Buyer shall have days from Effective Date to obtain a written loan commitment satisfactory to Buyer. Buyer may terminate if financing contingency is not satisfied within such period.

Inspection and Due Diligence: Buyer shall have days from Effective Date to conduct inspections, surveys and title review. Seller shall provide reasonable access. Buyer shall deliver any written notice of defects or termination within the inspection period.

Contingencies and Conditions

Title: Seller will convey marketable fee simple title by general warranty deed subject only to exceptions acceptable to Buyer. Buyer shall obtain title commitment during the inspection period. Seller shall cure title objections prior to closing, or Buyer may terminate or elect remedies set forth herein.

Environmental and Hazardous Materials: Buyer may conduct environmental assessments during the inspection period. If material environmental conditions are discovered, Buyer may provide written notice and elect to terminate or require Seller to remediate prior to closing.

Disclosures

Lead-Based Paint Disclosure: Present? Yes No

Known Mold or Water Intrusion: Present? Yes No

Prior Structural Damage or Repairs: Present? Yes No

Zoning or Code Violations Known to Seller: Present? Yes No

Escrow, Closing Costs, Prorations

Closing Costs and Prorations: Costs of escrow, title insurance, recording fees and customary closing costs shall be allocated as follows: Seller pays ; Buyer pays . Taxes, rents and other prorations shall be apportioned as of the Closing Date.

Default and Remedies

If Buyer defaults after delivering earnest money and failing to close other than for a permitted contingency, Seller may retain earnest money as liquidated damages, pursue specific performance, or pursue such other remedies as provided by law. If Seller defaults in a material obligation, Buyer may seek specific performance, return of earnest money, or damages.

Binding Provisions

The parties agree that the provisions regarding: (i) delivery and handling of earnest money; (ii) confidentiality and exclusivity (if selected); (iii) allocation of costs for cure of title defects required by this MOU prior to Closing; and (iv) governing law and dispute resolution are intended to be legally binding and enforceable. All other provisions are non‑binding expressions of intent and are superseded by any subsequently executed purchase and sale agreement.

Confidentiality & Exclusivity

Confidentiality: The parties will keep confidential the terms of this MOU, any non‑public financial information and any proprietary information disclosed in negotiating the transaction, except as required by law or as necessary for financing or legal counsel. Parties shall execute a mutual confidentiality agreement upon request.

Exclusivity: Seller grants Buyer an exclusivity period of days from the Effective Date during which Seller shall not solicit or negotiate with other prospective purchasers. Breach of exclusivity is a breach of the Binding Provisions.

Notices

All notices required or permitted under this MOU shall be in writing and delivered to the addresses set forth for each party above by hand delivery, nationally recognized overnight courier, or certified mail, return receipt requested, and shall be effective upon receipt.

Governing Law; Miscellaneous

Governing Law: This MOU shall be governed by and construed in accordance with the laws of the state in which the Property is located. The parties consent to the exclusive jurisdiction of the state and federal courts located in the county where the Property is located for disputes arising under the Binding Provisions.

Entire Agreement: This MOU constitutes the entire understanding between the parties with respect to the matters herein and supersedes all prior discussions and agreements, except that any executed confidentiality agreement shall remain in effect as provided therein.

Sign Now