Real Property Acquisitions

Purchase Agreement


Agreement for Purchase and Sale 

 

AGREEMENT dated , by and between , hereinafter “Seller” whose address is  and hereinafter “Buyer” (and/or assigns or nominees) whose address is:

 

THE PROPERTY: The parties hereby agree that Seller will Sell and Buyer will Buy the following 

property known by street address as:

 

The Seller represents to the Buyer that the present use of the property is lawful and complies with government regulations, restrictive covenants, zoning, and other similar contracts in effect. Seller warrants that there are no facts known to Seller materiality affecting the value of the property which are not readily observable to the Buyer or which have not been disclosed to the Buyer. The sale shall include unless specifically excluded, all personal property and fixtures whether affixed or not lo the structure or property. 

 

THE FOLLOWING ITEMS ARE EXCLUDED:  

Buyer is agreeing to purchase the property to rent, lease, assign, or sell for a profit. It is further understood that the Buyer does not intend to occupy the property as a resident. Seller fully understands that the Buyer and/or its representatives are not earning any fee or commission from the Seller. The Seller should not expect any representation from the Buyer and/or Buyers representatives. All of the Seller's legal or financial questions should be answered by the Seller's legal and/or financial advisors. 

PURCHASE PRICE:  

BUYERS DUE CONSIDERATION  (Earnest Money):  :  

ACCEPTANCE: This offer shall expire if not executed by and delivered to all parties in writing on or before 11:59 PM on

DUE CONSIDERATION/EARNEST MONEY DEPOSIT: The amount of , as Buyer's Due Consideration/Earnest Money deposit, shall be made due and payable as Earnest Money upon Buyer's partner's written approval. 

EARNEST MONEY: The attorney of Buyer's choice shall hold the Buyer's Earnest Money in escrow. If Buyer default should occur on any provision in this agreement, Seller shall retain all monies paid to Seller by Buyer as full and complete liquidation damages, agreed-upon settlement in full, and Seller's only recourse for Buyer default. 

ACCESS & INSPECTION: Seller shall make the property accessible to Buyer, Buyer’s partners, agents, assignees, contractors, lenders, or appraisers prior to closing. Buyer may market the property prior to the close of escrow via platforms including but not limited to the MLS. This agreement is subject to a satisfactory inspection of the property by Buyer. Buyer’s Inspection Period shall be business days after Agreement acceptance. Buyer retains the right to cancel the Agreement without recourse during the inspection period. Seller has the right to cancel the Agreement without recourse during the inspection period. Seller may also cancel the Agreement without recourse if Buyer defaults on earnest money deposit.

VALUATION: This agreement is subject to the valuation of the Buyer.

CLOSING COSTS: The closing costs shall be paid by

CLOSING: Closing will be held on/or before,, at a time and place designated by the Buyer.

Buyer shall choose the escrow, title, and/or closing agent. Seller agrees to provide clear title, free and clear of any liens, unpaid taxes, or encumbrances. If the Property is leased at the time of closing then rents will be prorated and any tenant security deposits will be transferred to Buyer. All taxes will be prorated and the Seller will pay any back taxes at or before closing. Seller agrees to convey title by general warranty deed. Should any defects be in the title, the Seller shall have 60 days to clear the same. lf the Seller is unable to do so, Buyer shall have the option of closing or rescinding this contract. 

ACCESS: If applicable Buyer shall be entitled to access (including a key if vacant) to inspect and show investment partners, potential and/or assignees or nominees, inspectors, and/or contractors prior to closing. The Buyer is also entitled to do a “walk through”  on the day of closing. 

LEGAL: If you do not understand anything in this contract, please seek the legal advice of an attorney prior to signing below. In the event of litigation between the parties, the seller shall be responsible for all legal fees including the cost of litigation and reasonable attorney's fees that the buyer may incur. This provision shall survive the closing and delivery of seller's deed to the buyer. 

DISCLOSURE OF INFORMATION AND ACKNOWLEDGEMENT LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARDS: Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before renting pre-1978 housing, lessors must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling.Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. 

ADDITIONAL TERMS AND CONDITIONS:

 

Contact Info:

Seller"s Name 

Seller's Email Address:

Seller's Phones 


Buyer's Name 

Buyer's Email Address 

Buyer's Phones

 

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Signed by LAWRENCE ALLMOND
Signed On: March 2, 2021

Signature Certificate
Document name: Purchase Agreement
lock iconUnique Document ID: 02bdd30fc9865b6cd46e55b060bc2cdb0a33520d
Timestamp Audit
January 22, 2021 6:46 am ESTPurchase Agreement Uploaded by LAWRENCE ALLMOND - lawrence@realpropertyacq.com IP 24.179.17.230