This Agreement, is entered into this ____ day of __________, 20__ between
______________________________________ (hereinafter, "Buyer") and
______________________________________ (hereinafter, "Seller"), the owner of the real estate in question (hereinafter the "Property"), more fully described on Exhibit "A", which is fully incorporated and made a part of this Agreement.
1. Seller, in consideration of the deposit of $_______, receipt of which is hereby acknowledged and which shall apply to the purchase price at transfer of title and is refundable if Seller fails to perform, promises to sell the Property to Buyer for the purchase price of $ ____________.
2. The Contract is contingent on Buyer securing a financing commitment by ______________, 20__ satisfactory to the Buyer. If financing is secured, the purchase price shall be paid as follows: ___________________________________________________________________.
3. Title to the Property shall be transferred by ______________ deed on or before the _____ day of ___________; said title to be free, clear and unencumbered, subject to zoning regulations and other restrictions of record, and EXCEPT ___________________________
_________________________________________________________________________.
4. Possession is to be given _____________________________________________________.
5. Seller is to pay all taxes and assessments, if any, due as of the date of transfer of title, as well as prorating to the date of transfer of title any taxes and assessments not yet due. Any rentals and operating expenses shall be similarly prorated.
6. The parties hereto agree that the Property is being sold in as-is condition with no warranties as to condition or use for any particular purpose. Buyer and its agents are authorized to enter upon the Property during the pendency of this Contract to make such inspections, surveys, and tests of the Property as Buyer deems necessary at Buyer's expense. Buyer shall be excused from performance under this Contract if such inspections, surveys, or tests demonstrate no later than ________________, 20__ that the Property is not currently fit for Buyer's intended use and the problem cannot be remedied within a reasonable time and at reasonable cost.
7. Seller agrees that at the time of transfer of title the Property will be in the same condition as of the date of this Contract, reasonable wear and tear excepted. Seller shall retain insurance covering the property through the date of transfer of title.
8. Additional terms and conditions (if none, type "NONE"): ______________________
____________________________________________________________________
____________________________________________________________________.
9. This Agreement comprises the entire agreement of Buyer and Seller with respect to the Property and it is agreed that no other representations or agreements have been made or relied upon. This Agreement is a binding contract upon the parties, their heirs, personal representatives, executors, administrators, and assigns.
BUYER:
DateSELLER:
Date
_______________________________
______________________________