THE PROPERTY: The parties hereby agree that Seller will Sell and Buyer will Buy the following
property known by street address as:
THE FOLLOWING ITEMS ARE EXCLUDED:
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:
Seller's Email Address:
Buyer's Email Address
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Signed by LAWRENCE ALLMOND
Signed On: March 2, 2021
If you have questions about the contents of this document, you can email the document owner.
Document Name: Purchase Agreement
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