Signed S&P Agreement

SIGNED S&P AGREEMENT

This Sales and Purchase Agreement (Agreement) is made and entered into as of , by and between the undersigned Seller and Buyer, each of whom agrees to the terms set forth below.

PARTIES

PROPERTY

PURCHASE PRICE AND PAYMENT

Purchase Price: $ payable as follows: Earnest Money $ to be delivered to Escrow Holder within days of mutual execution of this Agreement.

FINANCING CONTINGENCY

This Agreement is contingent upon Buyer obtaining loan approval in the amount of $ with terms acceptable to Buyer within days after execution. If Buyer fails to timely give written notice of loan denial, Buyer is deemed to have waived this contingency.

INSPECTIONS AND DUE DILIGENCE

Buyer shall have an inspection period of days following mutual execution to conduct inspections and investigations deemed necessary by Buyer. Seller shall allow reasonable access for inspections. If defects are discovered, Buyer may deliver written objections and request repairs or credits. Seller shall have the right to cure or offer a reasonable settlement within seven (7) business days of receipt of objections.

CLOSING AND POSSESSION

Closing Date shall occur on or before , subject to agreed escrow and lender timelines. Possession to be delivered to Buyer on , unless otherwise agreed in writing.

PRORATIONS, COSTS, AND TAXES

Real estate taxes, assessments, rents, utilities, and other customary prorations shall be adjusted as of the Closing Date. Seller shall be responsible for costs to cure title defects existing prior to closing, except where otherwise allocated herein. Closing costs and escrow fees shall be paid as follows:

TITLE, SURVEY, AND ESCROW

Seller shall convey marketable title by statutory warranty deed free and clear of liens, except for those specifically accepted by Buyer. Title shall be evidenced by an owner’s policy of title insurance in the amount of the Purchase Price. Buyer may, at Buyer’s expense, obtain a survey when customary or required by Buyer’s lender.

REPRESENTATIONS AND WARRANTIES

Seller represents that Seller is the lawful owner of the Property, has authority to enter this Agreement, and that to Seller’s knowledge there are no unrecorded leases, pending litigation affecting title, or material undisclosed defects other than those disclosed in writing to Buyer prior to execution.

DISCLOSURES

Seller discloses the following to Buyer. Check the applicable box indicating Seller’s representation.

Lead-based paint disclosure: Yes No

Known mold or water intrusion: Yes No

Prior structural damage or repairs (including fire, flood, termite): Yes No

DEFAULT AND REMEDIES

If Buyer defaults, Seller may retain the earnest money as liquidated damages or seek specific performance and other remedies available at law or equity. If Seller defaults, Buyer may elect to terminate and receive a return of earnest money or seek specific performance, damages, or other relief. Parties agree that time is of the essence for all material dates in this Agreement.

GOVERNING LAW; ENTIRE AGREEMENT

This Agreement shall be governed by the substantive laws of the state in which the Property is located. This document, together with any exhibits, addenda, and written amendments signed by both parties, constitutes the entire agreement between the parties and supersedes all prior oral or written agreements.

MISCELLANEOUS

Notices required under this Agreement shall be in writing and delivered to the addresses set forth above by personal delivery, registered mail, or overnight courier. Any waiver must be in writing and signed by the waiving party. If any provision is held invalid, the remainder shall continue in full force and effect.

SIGNATURES

The parties, intending to be legally bound, execute this Agreement by their authorized representatives below.

Sign Now