Standard Real Estate Purchase And Sale Agreement
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6Standard Real Estate Purchase And Sale Agreement
For and in consideration of the premises and mutual promises, covenants and agreements hereinafter
set forth, _____________________________________________________________ (hereinafter “Seller”)
agrees to sell to _____________________________________________________________ (hereinafter
“Buyer”) the real property described by Physical Address as follows:
_____________________________________________________________________________________
_
and all improvements thereon (hereinafter “Property”) and Buyer agrees to purchase said Property from
Seller according to the terms and conditions in this Agreement (hereinafter “Agreement”).
1. PURCHASE PRICE.
a.
Earnest Money (see
$_______________________
below)……………………………………………
__
b.
Subject To
$_______________________
______________________________________________
__
c.
Subject To
$_______________________
______________________________________________
__
d.
Subject To
$_______________________
______________________________________________
__
e.
Seller
$_______________________
Financing………………………………………………………..
__
f.
Cash to Seller at
$_______________________
Closing……………………………………………….
__
g.
New
$_______________________
Loan(s)…………………………………………………………...
__
h.
TOTAL PRICE (hereinafter “Purchase
$_______________________
Price”)………………………
__
If at the time of closing the actual balance of any encumbrance(s) listed above is/are less than stated
above, the Purchase Price shall be reduced to reflect the difference. If at the time of closing the actual
balance of any encumbrance(s) stated above is/are more than stated above, Seller shall pay to Buyer
the difference in cash, or Buyer may terminate this Agreement without recourse and Seller shall be
required to return and/or release all earnest money or other deposits already paid by Buyer.
If Buyer is to seek financing per line 1(g) above, this Agreement shall be subject to Buyer’s acquisition
of acceptable financing according to Buyer’s sole discretion.
2. EARNEST MONEY. Seller acknowledges receipt and sufficiency of the cash sum as indicated in
line 1(a) above (hereinafter “Earnest Money”). If Buyer breaches this Agreement, Seller agrees to
accept Earnest Money as full liquidated damages and waives and relinquishes any and all future claims
against Buyer. ______ ______
3. CONVEYANCE. Seller shall convey full legal title to Buyer or Buyer’s nominee via General Warranty
Deed.
4. EFFECTIVE DATE. This Agreement shall become binding on the parties hereto on the date when
last one of Seller and Buyer has signed this Agreement (hereinafter “Effective Date”).
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