Standard Form Real Estate Contract Template
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3STANDARD FORM REAL ESTATE CONTRACT
NOTICE: THIS CONTRACT CONSTITUTES A LEGALLY BINDING CONTRACT FOR THE PURCHASE AND SALE OF
RESIDENTIAL PROPERTY. IF YOU DO NOT UNDERSTAND OR AGREE WITH ANY OF THE TERMS OR CONDITIONS SET
FORTH IN THIS CONTRACT, YOU SHOULD CONSULT WITH A LICENSED ATTORNEY OF YOUR CHOICE PRIOR TO SIGNING
THIS DOCUMENT. NO PROVISIONS OF THIS CONTRACT ARE FIXED BY LAW AND ALL TERMS AND CONDITIONS ARE
SUBJECT TO NEGOTIATION PRIOR TO EXECUTION.
THIS AGREEMENT for the purchase and sale of the real property described below (the "Property"), is upon the following terms and
conditions:
1.
Seller(s):
Address:
2.
Buyer(s):
Address:
3.
Real Property:
Address:
Town:
4.
Personal Property, if any, to be included:
To be excluded:
5.
Purchase Price:
Payable as Follows:
(a)
By Initial Deposit paid upon execution of this Contract
$
(b)
By Additional Deposit to be paid on or before
$
(c)
By proceeds of a Bank, Institutional or Purchase Money Mortgage Loan
which proceeds shall be immediately available to Seller at a local bank
$
(d)
Balance to be delivered at closing in cash, certified check or official bank check,
the proceeds of which shall be immediately available to Seller at a local bank
$
TOTAL PURCHASE PRICE
$
Sum of (a) + (b) + (c) + (d)
6.
Mortgage Financing Contingency: (NOT APPLICABLE UNLESS FILLED IN)
Third Party Mortgage
Purchase Money Mortgage
(a)
Mortgage Loan Amount at Prevailing Interest Rate:
$
(b)
Term of Mortgage:
(Years)
(c)
Written Loan Commitment to be obtained by :
Month/Day/Year
If filled in, Paragraph 23 is automatically made a part of this Contract.
7.
Closing Date:
at Seller's attorney's office, or at Mortgage Lender's office in
County, if required.
Month/Day/Year
8.
Attorneys' Review. This Contract is subject to review by the attorneys representing the Buyer and Seller. Based upon his/her
attorney's review, either party may cancel this contract by written notice to the other party given not later than five (5) business days
after such party receives a fully executed counterpart of this Contract. Upon cancellation, the Deposit shall be returned to the Buyer.
9.
Inspection Contingency: The inspections checked below shall be completed not later than:
. The "Title Search Completion Date" shall be no later than ten (10) business days after the "Inspection
("Inspection Completion Date")
Completion Date."
YES
WAIVED
YES
WAIVED
YES
WAIVED
Building/Mechanical
Water
Oil Tank
Well/Organic Chemicals
Termite/Other Insects
Lead
Septic
Asbestos
Radon-Air/Water
Title Search
If filled in, Paragraph 24 is automatically made a part of this Contract.
Buyer's Initials:
Seller's Initials:
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