Real Estate Villa Document

REAL ESTATE VILLA PURCHASE AGREEMENT

PARTIES AND EFFECTIVE DATE

This Purchase Agreement ("Agreement") is entered into by and between the undersigned parties for the purchase and sale of the real property described below. Buyer Name: Seller Name:

Effective Date of Agreement: .

PROPERTY IDENTIFICATION

PURCHASE PRICE AND PAYMENT

Purchase Price: $ Earnest Money Deposit: $ to be delivered to Escrow Agent:

Earnest Money Delivery Deadline: . If Earnest Money is not delivered by this date, Seller may terminate this Agreement and retain remedies provided herein.

FINANCING, INSPECTION, AND CONTINGENCIES

This Agreement is conditioned on Buyer obtaining financing as follows: Loan Type: Maximum Loan Amount: $. Financing Contingency Expiration: .

Buyer shall have a period of days from Effective Date to complete inspections. Buyer may deliver written notice of defects to Seller within this period. Seller shall have a reasonable opportunity to cure material defects where required by law.

CLOSING, POSSESSION, AND PRORATIONS

Closing Date: . Closing shall occur at the office of the Escrow Agent or as otherwise mutually agreed in writing.

Possession Date: , subject to performance of Seller's obligations and prorations below.

Prorations: Real property taxes, assessments, rents, and utilities shall be prorated as of Closing. Buyer and Seller shall each pay their respectively agreed closing costs as specified in escrow instructions.

TITLE, CONVEYANCE, AND SURVEY

Title: Seller shall convey marketable title by general warranty deed (or appropriate deed) free of liens and encumbrances except those permitted in writing. Buyer may obtain, at Buyer's expense, a survey and title insurance policy. Seller shall deliver any seller-supplied documents reasonably required for issuance of title insurance.

FIXTURES, PERSONAL PROPERTY, AND ACCESS

Unless otherwise stated here, all fixtures affixed to the property are included in the sale. Included Items (describe):

Seller represents that, to Seller's knowledge, Buyer will have reasonable access to the property for inspections and for performance of obligations prior to Closing.

PROPERTY CONDITION, DISCLOSURES, AND HAZARDS

Seller certifies that the Seller's knowledge of the property's condition has been disclosed in good faith. Buyer acknowledges the right to review written disclosures. Mark the applicable disclosures below:

Lead-Based Paint (required for pre-1978): Yes No

Known Mold or Mold Remediation: Yes No

Prior Material Damage or Repairs (flood, fire, structural): Yes No

DEFAULT, REMEDIES, AND INDEMNITY

If Buyer defaults under this Agreement, Seller may retain Earnest Money as liquidated damages or pursue specific performance or other remedies at law or equity. If Seller defaults, Buyer may elect specific performance, termination with return of Earnest Money, or other remedies. The non-defaulting party shall be entitled to recover reasonable attorneys' fees and costs incurred to enforce this Agreement if permitted by law.

BROKERS, REPRESENTATIONS, AND COVENANTS

Each party represents and warrants that they have full authority to enter this Agreement. Any real estate brokers or agents must be identified below and will be paid only as set forth in a separate written agreement between Seller and broker unless otherwise agreed in writing.

NOTICES

All notices, demands, or communications required or permitted under this Agreement shall be in writing and delivered to the addresses below. Buyer Mailing Address:

Seller Mailing Address:

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, including any exhibits and escrow instructions properly executed by the parties, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, or agreements, whether written or oral.

MISCELLANEOUS PROVISIONS

Remedies are cumulative and the election of one remedy shall not preclude any other available remedies. Time is of the essence with respect to all dates contained in this Agreement. Any amendment must be in writing and signed by both parties.

ACKNOWLEDGEMENT

By signing below, Buyer and Seller acknowledge that they have read and understand all terms and that they execute this Agreement voluntarily and with authority to bind the party for whom they sign.

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