Fillable Residential Contract Of Sale Template (Page 9 of 16) in pdf

Residential Contract Of Sale Template Page 9

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(“IRC”) Section 1445, as amended, and the regulations promulgated thereunder

(collectively “FIRPTA”);

(iv) The Premises are not affected by any exemptions or

abatements of taxes; and

(v)

Seller has been known by no other name for the past ten

years, except _____________________________________.

(b) Seller covenants and warrants that all of the representations and

warranties set forth in this contract shall be true and correct at Closing.

Seller’s covenants, representations, warranties or other obligations contained in this

contract shall survive Closing.

12. Condition of Property. Purchaser acknowledges and represents that

Purchaser is fully aware of the physical condition and state of repair of the Premises and

of all other property included in this sale, based on Purchaser’s own inspection and

investigation thereof, and that Purchaser is entering into this contract based solely upon

such inspection and investigation and not upon any information, data, statements or

representations, written or oral, as to the physical condition, state of repair, use, cost of

operation or any other matter related to the Premises or the other property included in the

sale, given or made by Seller or its representatives, and shall accept the same “as is” in

their present condition and state of repair, subject to reasonable use, wear, tear and

natural deterioration between the date hereof and the date of Closing (except as otherwise

set forth in paragraph 16(e)), without any reduction in the purchase price or claim of any

kind for any change in such condition by reason thereof subsequent to the date of this

contract. Purchaser and its authorized representatives shall have the right, at reasonable

times and upon reasonable notice (by telephone or otherwise) to Seller, to inspect the

Premises before Closing.

13. Insurable Title. Seller shall give and Purchaser shall accept such title as

_______________________________________________________________ shall be

willing to approve and insure in accordance with its standard form of title policy

approved by the New York State Insurance Department, subject only to the matters

provided for in this contract.

14. Closing, Deed and Title. (a) “Closing” means the settlement of the

obligations of Seller and Purchaser to each other under this contract, including the

payment of the purchase price to Seller, and the delivery to Purchaser of a

____________________________________________ deed in proper statutory short

form for record, duly executed and acknowledged, so as to convey to Purchaser fee

simple title to the Premises, free of all encumbrances, except as otherwise herein stated.

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Residential Contract Of Sale Template Page 9

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