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 t

hat 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: ___________________________