Agreement To Purchase Real Estate (Page 2 of 3) in pdf

Balance (After EMD)-----$__________

4) Existing Financing: Buyer(s) agrees and understands that purchase of all interest and

legal rights in property described within this agreement is “subject-to” any such

mortgages, deeds of trust encumbering said property and payments will be made on a

timely basis to any such lender(s). Any loan balance in actuality less than herein shall

reflect the difference in additionally paid cash to Seller(s) or if loan balance in actuality

herein is more, then Buyer(s)’s required cash payment due to Seller(s) at closing will be

reduced accordingly. All taxes and insurance escrows held by any lender and or

its/assigns will be waived by Seller(s) at closing.

5) Seller Financing: The balance due to Seller(s) if seller financing applicable will be

evidenced by a negotiable promissory note in the amount of $ ___________ mortgage or

Trust Deed and delivered by Buyer(s) to Seller(s) dated the date of closing, amortized on

the basis of __________ years, payable at $_____ per month including principal and

interest at a rate of ______% per annum.

Seller(s) understands and agrees that mortgage securing said loan will be and remain

subordinate to any mortgages currently attached to property in the approximate amount of

$____________. Seller(s) agrees that in the event said security is mortgage encumbering

property that said mortgage or deed of trust shall not contain any “due on sale” or similar

restrictions.

6) Closing: Closing will commence on or before ___________, 20__, or as soon as

proper documentation is provided. Closing will take place at the address of the escrow

agent provided by buyer. Buyer has the right to assign this purchase to any third party at

any time under this contract.

$_______________ will be applied To Buyer(s) closing costs:

7) Execution: Time is of the essence in this agreement and there are no other agreements,

promises or understandings between these parties except as specifically set forth herein.

Furthermore, this agreement shall become effective as of the date of the last signature.

8.) Said property is sold in “as is” condition, Seller disclaiming any warranty of,or

merchantability, fitness or working order or condition, reasonable wear and tear excepted.

Buyer shall have the right, with reasonable notice to seller, to inspect Property with

utilities in service. Contract shall be contingent upon satisfactory inspection. Seller shall

provide Buyer with a key or place key in a lock box at property so Buyer may enter

Property for inspection, contracting purposes and termite report. Seller warrants it has

good and marketable title to said Property, and that said Property shall be sold by

warranty bill of sale free and clear of all liens, encumbrances, liabilities and adverse

claims of every nature and description.

Agreement To Purchase Real Estate Page 2