Real Estate Property Documents

Real Estate Property Documents

This Agreement is entered into on Effective Date: , by and between Seller Name: and Buyer Name: .

Parties

Property Identification

Purchase Terms

Purchase Price: $ . Earnest Money Deposit: $ payable to Escrow Holder: on or before .

Financing Contingency: Yes No. If yes, Buyer shall obtain loan approval in the amount of $ from Lender: within days of Effective Date.

Inspection Period: Buyer shall have days from Effective Date to complete inspections. Seller will provide reasonable access. Buyer may terminate or request repairs in writing during the inspection period.

Closing Date: . Possession Date: , subject to buy-sell and lease-back terms if applicable.

Property Disclosures

Lead-Based Paint (if built prior to 1978): Yes No.

Known Mold or Water Intrusion: Yes No. If yes, describe:

Prior Structural or Material Damage Repaired: Yes No. If yes, describe remediation:

Flood Zone or Special Hazard Area: Yes No. Homeowners Association: Yes No. If yes, HOA name and contact:

Representations, Warranties and Covenants

Seller represents that Seller is the lawful owner of the Property, has authority to sell, and that at Closing will convey marketable title by general warranty deed free of liens except as disclosed in writing. Buyer acknowledges receipt of the disclosures set forth herein and that Buyer accepts the Property in its current condition subject to Seller's representations and any agreed repairs.

Seller shall disclose any pending or threatened litigation affecting the Property, any recorded covenants or restrictions, and any material violations of building or zoning codes of which Seller has actual knowledge. Buyer shall have the right to raise unresolved material issues as a contingency for termination.

Default and Remedies

If Buyer fails to perform, Seller may retain Earnest Money as liquidated damages, or pursue specific performance or other remedies at law or equity. If Seller fails to perform, Buyer may elect specific performance, return of Earnest Money, or damages. Except as provided herein, the parties agree to a cure period of days following written notice to cure any monetary default.

Closing; Title and Conveyance

At Closing, Seller shall execute and deliver a duly authorized general warranty deed conveying the Property to Buyer. Title shall be good and marketable subject only to permitted exceptions. Buyer shall obtain lender's required title insurance policy and may obtain an owner’s title policy at Buyer’s expense. Evidence of title and closing adjustments shall be provided at or prior to Closing.

Indemnity; Insurance

Each party shall indemnify the other for losses arising from the indemnifying party’s breach of representations, warranties, covenants or willful misconduct. Seller shall maintain until Closing property insurance in customary amounts; Buyer shall secure any required hazard insurance effective upon possession or earlier if required by lender.

Governing Law; Entire Agreement

This Agreement shall be governed by the laws of the State of: . This instrument constitutes the entire agreement between the parties with respect to the Property and supersedes all prior negotiations and agreements. Any amendment must be in writing and signed by both parties.

Miscellaneous Provisions

Notices shall be in writing and delivered to the addresses set forth herein. Time is of the essence with respect to Buyer’s obligations unless expressly waived in writing. If any provision is held invalid, the remainder shall remain in full force and effect.

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