Real Estate Purchase And Sale Agreement Template (Page 2 of 2) in pdf

9. STATEMENT RE: LEAD BASED PAINT: The parties acknowledge that dwelling units constructed prior to 1978 are likely to contain lead-based paint which could

create a health hazard. In the event that the real property which is the subject of this Agreement consists of or contains a residential unit built prior to 1978, the parties

agree that each party has received, reviewed, signed and annexed hereto a completed Disclosure and acknowledgment Form re: Lead-Based Paint as required by federal

HUD/EPA disclosure regulations.

10. OCCUPANCY, POSSESSION: CLOSING DATE:

Unless otherwise stated herein, Buyer shall receive exclusive possession and occupancy with keys on Closing Date. The Real Property shall be maintained by Seller until

time of Closing and shall be transferred in broom clean condition, free of debris. Buyer shall have the right to a walk-through inspection of the Property within 48 hours prior

to the Closing Date. Closing shall be held at an office to be determined by Buyer’s attorney in the county where the property is located or at such place as designated by

Buyers mortgage lender.

11. WARRANTY DEED: Seller agrees to convey fee simple title of the Real Property to Buyer by a good and sufficient Warranty Deed subject only to any and all

provisions of any ordinance, municipal regulation, public or private law, restrictions and easements as appear of record, if any, provided they do not affect marketability of

title, current real estate taxes, water and sewer charges, and current water and sewer assessment balance, if any; except in those cases where a fiduciary’s Deed or other

form of court ordered deed may be required to pass title. Seller warrants that Seller has no notice of any outstanding violations from any town, city or State agency relating

to the property.

12. MARKETABLE TITLE: Title to be conveyed by Seller shall be marketable as determined by the Standards of Title of the “YOUR STATE” Bar Association now in

force. Seller further agrees to execute such documents as may be reasonably required by Buyer’s title insurance company or by Buyer’s mortgage lender. Should Seller be

unable to convey Marketable Title as defined herein, Buyer may accept such Title as Seller can convey, or may reject the Unmarketable Title, receive back all Deposit

money, and declare this Agreement null and void. Upon such rejection and repayment to Buyer of all sums paid on account hereof, together with the reasonable fees for

the examination of title, this Agreement shall terminate and the Parties hereto shall be released from all further claims against each other.

13. ADJUSTMENTS: Real Estate Taxes will be adjusted as of the Closing Date. All other adjustments, including Association fees, fuel oil, water and sewer usage, interest

on sewer or water assessments, utilities, rent, if any, and issues regarding funds at closing and unavailability of releases at closing and like matters shall be adjusted pro

rata as of the Closing Date in accordance with the Residential Real Estate Closing Customs of “YOUR STATE”, as adopted by the “YOUR STATE” Bar Association, now

in force. Rent security deposits, if any, shall be credited to Buyer by Seller on the Closing Date and shall include, any interest accrued to the tenant.

14. BUYER’S DEFAULT: If Buyer fails to comply with any Terms of this Agreement by the time set forth for compliance and Seller is not in default, Seller shall be entitled

to all initial and additional deposit funds provided for in section 4, whether or not Buyer has paid the same, as liquidated damages and both parties shall be relieved of

further liability under this Agreement. If legal action is brought to enforce any provision of this Agreement, the prevailing party shall be entitled to reasonable attorney’s

fees.

15. RISK OF LOSS, DAMAGE: All risk of loss or damage to said property by fire, theft or other casualty until delivery of Deed shall be upon the Seller. In the event of loss

or damage independently appraised at more than $5,000.00, Buyer shall have the option to receive any insurance payment on account of said damage and take Title, or

rescind this Agreement and receive back all Deposit money paid. In such case all rights and obligations of the parties under this Agreement shall terminate.

16. COMMON INTEREST COMMUNITY: If the property is a unit in a condominium or other common interest community, Seller will deliver the resale documents in

accordance with the local statutes and customs.

17. LISTING BROKER: _______________________________________________________________PH#: ___________________________________

________ Dual Agent - If the Listing Agent is acting as a Dual Agent, a CONSENT FOR DUAL AGENCY FORM SHALL BE ATTACHED to this Agreement.

COOPERATING BROKER

PH#__________________ ___ Buyer Agent ___ Sub Agent

18. PROPERTY CONDITION REPORT: Seller and Buyer acknowledge that if a written residential property condition report is required by statute and Seller has not

provided Buyer with the required report, Seller will credit Buyer with the statutory fee at closing.

19. EQUAL HOUSING RIGHTS: This Agreement is Subject to all local statutory laws prohibiting discrimination in commercial and residential real estate transactions.

20. ADDENDUM: The following attached Addenda and/or Riders are part of this Agreement:

____ Seller’s Property Condition Disclosure;

___ Agency Disclosure;

____Title; ____Lead hazards

____ Dual Agency Consent

____Multi-family or Commercial Property Rider

____Other ________________________________________________________

21. ADDITIONAL TERMS AND CONDITIONS: __________________________________________________________________________________________

________________________________________________________________________________________________________________________________

22. FAX TRANSMISSION: The parties acknowledge that this Agreement and any addenda or modification and/or any notices due hereunder may be transmitted between

them by facsimile machine, e-FAX, or via email and the parties intend that a faxed document containing either the original and/or copies of the parties’ signatures shall be

binding and of full effect.

23. COMPLETE AGREEMENT: This Agreement contains the entire agreement between Buyer and Seller concerning this transaction and supersedes any and all previous

written or oral agreements concerning the Property. Any extensions or modifications of this Agreement shall be in writing signed by the parties.

24. NOTICE: Any notice required or permitted under the Terms of this Agreement by Buyer or Seller shall be in writing addressed to the Party concerned using the

address stated in Paragraph 1 of this Agreement or to such party’s attorney or to the party’s Listing Broker or Cooperating Broker designated in paragraph 17.

25. BUYER AND SELLER acknowledge receipt of a copy of this Agreement upon their signing same.

26. TIME TO ACCEPT: Seller shall have until __________________________________________________________________ to accept this Agreement.

27. SIGNATURES:

__________________________________

______________

______________________________________

____________

Buyer’s Signature

Date

Seller’s Signature

Date

__________________________________