Purchase Agreement printable pdf download

Community Land Trusts:

Sample Purchase Agreement

PURCHASE AGREEMENT

THIS PURCHASE AGREEMENT (“this Agreement” or “the Agreement”) is entered into this _________

day of _____________, 20____, between _____________________ [Entity Name], COMMUNITY LAND

TRUST (“CLT”), a Michigan nonprofit corporation, whose address is ____ ___________________________

_______ (“Seller”), and __________________________________, [a single woman/man or a married couple]

(“Homeowner(s)”), whose address is __________________________________________, ([individually or

collectively] “Buyer(s)”).

Sale of Improvements

(a) Seller owns certain land and related rights (the “Land”) commonly known as [street address], located

in [county] County, Michigan more specifically described as follows:

[Insert the legal description and tax parcel identification number]

(b) Seller has constructed/There are certain improvements upon or under the Land, being [insert

description of what has been constructed] (the “Improvements”).

Seller agrees to sell the Improvements located on the Land, which consists of any of the following items

that exist on or under the Land on the day of closing: (1) the house and any attached or separate garage

or other structure on the Land and everything in them, (2) all landscaping and plant materials (trees,

shrubs, grass), (3) driveway, (4), sidewalks, (5) patio, (6) porch, (7) exterior lighting, (8) mailbox, (9)

fencing (if any), and (10) all utility equipment whether underground or aboveground (including water

laterals, sanitary sewer laterals, and electric/phone/cable lines, unless they are specifically owned by a

municipality or the utility provider). The Land and the Improvements are referred to as the “Property.”

(d) Seller shall convey title to the Improvements to Buyer by delivery of a warranty deed (“Deed’’) on

receipt of the Purchase Price.

(e) Seller and Buyer agree that any personal property located on the Land at the date of closing

owned by Seller (including any personal property located in the house) is being sold together with the

Improvements and that the consideration for the personal property is contained in the Purchase Price for

the Improvements.

(f) Seller is selling only the Improvements and not the Land. Therefore title will be conveyed only as to

MICHIGAN COMMUNITY RESOURCES

C O M M U N I T Y L A N D T R U S T: S A M P L E P U R C H A S E A G R E E M E N T

Purchase Agreement