Contract To Purchase Template (Page 2 of 4) in pdf

SELLERS shall furnish a general warranty deed with release of dower, as applicable, and/or

fiduciary deed, if required, conveying to PURCHASERS a good and marketable fee simple

title to the property, free and clear of all liens and encumbrances

whatsoever

except

restrictions, reservations, conditions, covenants, and easements of record; such encroachments

as do not materially adversely affect the use or value of the premises; zoning ordinances, if any;

and current taxes and assessments, both general and special, which are a lien, but not yet

due and payable, and thereafter.

In the event a title defect appears thereby preventing

SELLERS from conveying the marketable title described herein, PURCHASERS shall have

the option of affording SELLERS thirty (30) days to cure said defect, or may declare this

CONTRACT TO PURCHASE REAL ESTATE null and void and thereby be entitled to the

return of all monies heretofore tendered.

SELLERS shall furnish to PURCHASERS an Owner’s Fee Policy of Title Insurance in the

amount of the purchase price. All title work to be ordered through Revere Title Agency.

Taxes and assessments shall be prorated as of the date of recording the deed for record based

upon the latest available tax duplicate. SELLERS shall pay directly all utility charges due up to

the date the deed is filed for record. The escrow agent herein is authorized to withhold

$__________ from SELLERS pending final water and sewer charges. Upon proof of payment,

the escrow agent shall release said funds to SELLERS; otherwise, escrow agent is to pay the

final bill and remit balance of monies so held, if any, to SELLERS.

All funds and documents necessary for closing shall be deposited with Revere Title Agency,

Escrow Agent herein, at ______________________________, on or before ____________; and

the deed shall be recorded on or about _____________ with possession to be delivered by

SELLERS to PURCHASERS no later than ______ days after the deed is filed for record.

SELLERS shall pay the following costs through escrow:

• Title Examination

• One-half (1/2) the escrow fee

• One-half (1/2) the premium for the Owners’ Fee Policy of Title Insurance

• Any amounts due by reason of tax proration

• Cost of recording mortgage satisfactions, as applicable

• Conveyance Fee

• Cost of preparing the deed

PURCHASERS shall pay the following costs through escrow:

• Title Commitment

• One-half (1/2) the escrow fee

• One-half (1/2) the premium for the Owners’ Fee Policy of Title Insurance

• Any additional premiums required by lender by reason of an ALTA Loan Policy

• Any costs incident to financing

• Cost of recording the deed

• Cost of recording the mortgage

• Cost of Mortgage Location Survey, if required by lender

• Special Tax Search

If any building or other improvements are damaged or destroyed prior to the filing of the deed

for record, PURCHASERS shall have the option of completing this CONTRACT TO

PURCHASE REAL ESTATE and to receive the proceeds of insurance payable in connection

therewith, together with cash from SELLERS in the amount of any deductible, or to

terminate this CONTRACT TO PURCHASE REAL ESTATE and to recover all funds

heretofore paid, if any.

Title is to be taken in the name of ____________________________________________,

Husband and Wife, in survivorship.

Page Two of Three

Contract To Purchase Template Page 2

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