Purchase and Sale Agreement

This agreement is made this _________day of ____________________, 20______
between Seller(s)_______________________________________________
Social Security #______________________ and Buyer(s) __________________ __________________________________ and or assignees. Seller agrees to sell and buyer agrees to buy the following described real property together with all improvements and fixtures and the personal property described below:

Street Address ______________________________________________________

Legal description: _________________________________________________________________

County ________________.
 

Personal property included:  __________________________________________________________ ________________________________________________________________________________ ________________________________________________________________________________
 

Purchase Price: I agree to pay the sum of $ _________________be paid as follows:

$ ______________deposited in the form of _______________ with_________________________ the escrow

agent to be held in escrow at ______________________________ Bank until sale is completed, at which time it

shall become part of the purchase price or returned if not accepted or if accepted and the owner fails to carry

out his part of the conditions of this offer. $ ______________ in cash or check upon acceptance of this offer by

seller, as a deposit on account.

Earnest money in the amount of $____________ to be deposited with licensed Title Company or attorney within

48 hours of acceptance by seller.

Cash Balance: The balance of the purchase price will be paid at the closing in CASH or CERTIFIED CHECK

subject to the following if  applicable.

New Mortgage: This offer is subject to my obtaining a ____________________ mortgage loan in the amount

of _______________________ Dollars. I will apply for this loan by ___________________________, and

shall have until _______________________ to obtain a written mortgage commitment.

Mortgage with Seller:  By delivering to the Seller at closing purchase money mortgage, in the amount

of ______________________ Dollars, for a term of ____________ years, with interest at the rate of ______

percent per year, and monthly installments of Dollars, including principle and interest. Documents to be drawn in

a form acceptable to respective attorneys.

ADDENDUM:  Additional terms and conditions on the attached addendum have been made a part of this

agreement prior to its execution or N/A.

SURVEY: An up-to-date survey, if required, will be provided and paid for by (Seller/Buyer).

CLOSING DATE AND TRANSFER OF TITLE: This transaction shall close on or before ______________,

20____. Closing will be held at _______________________________ and Seller(s) agree to transfer

marketable title free and clear of all encumbrances except those listed and pay any required state taxes or stamps

required to record deed and mortgage. Seller agrees to furnish title insurance in the amount of the purchase price,

showing no encumbrances or exceptions other than previously noted.

ADJUSTMENTS: Interest, rents, water charges, fuel and taxes will be pro-rated and adjusted as of the date of

__________________________. 

RISK OF LOSS:  The risk of loss or damage to the property, by fire or other causes, until closing remains with the seller.

RIGHT TO INSPECTION: Buyer has until _________________ to obtain inspection reports by qualified professionals

regarding the condition of the property about which the Buyer may have questions. Buyer (has _________/__________)

(has not __________/__________) elected to obtain inspections.  If the Seller is not notified to the contrary by

_______________________ then this contingency shall be deemed removed and Buyer accepts the property "as is",

having inspected same and is thoroughly acquainted with the conditions of the premises. Premises to be delivered to Buyer in

as good condition as it is today, reasonable wear and tear excepted. Buyer may walk through the home no later than _______

days prior to closing for the sole purpose of determining that there have been no material changes to the condition of the property.

BROKER: Buyer represents that _____________________________________ is the selling Broker in this transaction

and is entitled to a commission of _____% of selling price payable at closing.

SUCCESSORS AND ASSIGNEES: The terms and conditions of this contract shall bind all successors, heirs, administrators, trustees,

executors and assignees of the respective parties.

DEFAULTS: If Buyer defaults under this contract, any and all monies deposited by Buyer(s) shall be retained by Seller as full liquidated

damages. If Seller defaults, buyer may pursue all remedies allowed by law and Seller agrees to be responsible for all costs incurred by

Buyer as a result of Sellers default.

ADDITIONAL TERMS AND CONDITIONS:
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________
______________________________________________________________________________________

The undersigned have read the above information, understand it and verify that it is correct.

SELLERS: _________________________________________________ DATE: ___________________

                  _________________________________________________ DATE: ____________________

BUYERS: _________________________________________________ DATE: ___________________

                 _________________________________________________ DATE: ____________________

PERSONS BOUND: THIS OFFER WHEN SIGNED SHALL BE A BINDING CONTRACT. IT SHALL BIND THE

PARTIES HERETO AND THEIR RESPECTIVE EXECUTORS, ADMINISTRATORS, DISTRIBUTEES, SUCCESSORS

ANDASSIGNS. BUYER AND SELLER MAY WISH TO CONSULT THEIR OWN ATTORNEYS BEFORE SIGNING.

DISCLOSURE: Buyer acknowledges receipt of agency disclosure, has read and understands its content

________________________/_______________.  Dated: _______________, 20____

Buyer: __________________________ Buyer: _______________________

Witness: ________________________________________________ Tel. No. ___________________________

Address: _______________________________________________

Attorney: ___________________________

ACCEPTANCE OF OFFER BY SELLER:  Seller(s) certify that they own the property and/or have the power to sell the property.

Sellers accept the offer and agree that the deposit may be held by ________________________________, Broker, and that it

may be applied against commissions as agreed in listing contract and due from Seller.

Dated: _______________, 20____

Buyer: __________________________

Buyer: __________________________

Witness: ________________________________________________ Tel. No. ___________________________

Address: _______________________________________________

Attorney: ___________________________


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