Sales Contract
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Absolute Title, Inc.
Phone 734-662-1050
2875 West Liberty Road
Fax 734-662-3608
Ann Arbor, MI 48103
Page 1 of 4
SALES CONTRACT
The SELLER is ______________________________________________________________________________________________
Address:
____________________________________________________________________________________________________________
Phone: ________________
Fax: _______________
The PURCHASER is __________________________________________________________________________________________
Address:
____________________________________________________________________________________________________________
Phone: ________________
Fax: _______________
Seller agrees to sell and Purchaser agrees to purchase the property in the __City __Twp of _____________, Washtenaw County,
Michigan, commonly known as:____________________________
(property address)
LEGAL DESCRIPTION:
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
and to be more completely described in the title insurance commitment to be issued by Absolute Title, Inc.
SALE PRICE: $__________________________________
EARNEST MONEY: Seller acknowledges $__________________ paid by Purchaser as earnest money upon signing of this contract
by Purchaser. This money will be deposited and held in
Absolute Title, Inc., escrow account or
Seller’s bank account
until closing of sale, at which time it will be credited to the Purchaser. If this contract is not accepted, the earnest money deposit will
be returned in full to Purchaser.
TERMS: Purchaser will pay the balance of the purchase price, together with closing costs and escrow deposits, in certified funds at
the time of closing. Unmarked terms of purchase do not apply.
___This contract is contingent upon Purchaser qualifying for and obtaining a mortgage commitment as designated below for which
Purchaser agrees to apply within ____ business days and pursue in good faith upon acceptance of this contract. This financing
contingency to be removed in writing on or before ____________.
___CONVENTIONAL ___PMI loan in the amount of $_______________________
___FHA ___VA loan commitment in the amount of $________________________
___ Seller ___Purchaser agrees to pay all necessary or up to _______ mortgage points
See attached ___FHA ___VA addendum.
___This contract is for a land contract sale. An additional $_______________ will be paid in certified funds at the time of closing.
Purchaser shall pay Seller the balance of $_________________ with interest on any unpaid part at the rate of _____% per year.
Interest shall commence on closing date. Purchaser shall make payments in monthly installments of $____________ each on the
______ day of each month starting the next month after closing. Payments shall be applied first on interest and then on principal.
Purchaser shall pay the remaining contract balance, including accrued and unpaid interest, by _________________. Purchaser may
prepay the balance in full, or in part, at any time without penalty.
OTHER CONDITIONS:
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
____________________________________________________________________________________________________________
Absolute Title, Inc.
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