Contract In Form Of Offer And Acceptance printable pdf download

Contract in form of offer and acceptance.

Real Estate Contract

To: _________, Seller

Date _________

Offer of Purchaser

The terms of this offer to be as follows:

I/We offer to purchase the property known as: _________ Street, _________(city), _________ County,

_________(state) _________(zip)

Legally described as (if not available, legal description to be inserted later): _________.

Lot approximately _________, together with improvements on it including the following, if any, located on

the premises as of the date of this agreement: screens, storm windows and doors; shades, Venetian blinds;

drapery rods; curtain rods; radiator covers; attached TV antennas; heating, central cooling, ventilating, lighting

and plumbing fixtures; attached mirrors, shelving, interior shutters, cabinets and bookcases; awnings; porch

shades; planted vegetation; garage door openers and transmitters; attached fireplace screens; as well as the

following specific items: _________.

All of the foregoing items of personal property shall be transferred to purchaser by delivery at closing of a

customary bill of sale.

1. Purchase price $_____.

2. Initial earnest money $_____ in the form of _________ check dated _________, payable to _________. Upon

acceptance of this offer, the check shall be properly endorsed by payee and deposited by _________, as broker. The

earnest money shall be increased to 10% (20% if unimproved) of purchase price within _________ days after

acceptance of this agreement. The initial earnest money shall be returned, and this offer shall be void if not accepted

on or before _________.

3. Purchase price, subject to prorations, shall be paid as follows [strike out the inapplicable subparagraphs]:

(a). All in cash, cashier's check, or certified check at closing.

(b). $_____(which includes earnest money) in cash, cashier's or certified check, and (unless within

_________ days of the acceptance of this agreement by owner purchaser has obtained another mortgage

commitment satisfactory to purchaser and has given written notice of the fact to owner) the balance by the

purchaser taking title subject to and assuming as of the date of closing and agreeing to pay the indebtedness

secured by the existing mortgage or trust deed, dated _________, recorded or registered in _________ County

as Document No. _________, and evidenced by a note currently held by _________ having an unpaid balance

as of this date of $_____, and bearing _____% interest per annum on unpaid principal, provided the note is not

in default on date of closing. The note is payable in _________ installments per year (including principal,

interest, tax and insurance deposits and loan guarantee insurance) of $_____ each, final payment being due on

_________.

The parties to this agreement agree to sign a written assumption agreement with and in a form satisfactory to

the legal holder of the note, assumption expense to be paid by the purchaser not to exceed $_____, and balance,

if any, to be paid by seller, the owner also to remain obligated to the legal holder if the legal holder so demands. In

the event the purchaser is unable to secure permission of the legal holder to assume the indebtedness or to

obtain another mortgage commitment within the above-specified number of days of acceptance of this agreement,

purchaser shall take title subject to the mortgage or trust deed (unless said instrument contains an express

prohibition to such taking without the legal holder's consent, in which event this contract shall be null and void

and the earnest money shall be returned to the purchaser) and shall be written instrument, in form satisfactory to

owner, save and hold harmless owner from all further liability on this agreement. The amount of cash due shall be

adjusted depending on the actual principal balance due on the note at the time of closing.

(c). $_____(which includes earnest money) in cash, cashier's check or certified check, and the balance by

(purchase money note and mortgage) (agreement for warranty deed, installment) [strike one] for $_____ with

interest on unpaid balance at _____% per annum, with _________ payments per year (including interest) of

$_____ each, the final payment to be due on _________ and with unlimited prepayment privilege without

penalty. The instruments shall be prepared by the attorney for the seller in a form to be approved by the

purchaser or h

attorney. In the event the parties cannot agree on the form of the instruments, seller's attorney

shall prepare a note and trust deed on the appropriate _________[bank or trust company] printed legal form or

the agreement for warranty deed, installment (long form) on the _________ & Co. printed legal form of same.

Within _________ days of the acceptance of this agreement, purchaser shall furnish seller a credit report.

Contract In Form Of Offer And Acceptance

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