, being located in __
______________ County and being more fully described in the records as they are recorded in the CountyRecords of said county (hereinafter referred to as the “Property”).
Buyer agrees to pay Seller and Seller agrees to accept ($___________________________________) _
Dollars Cash at closing Terms (see attached Addendum A.)for the Property. Buyer has paid to Seller an earnest money deposit of $
, in the form of a promissory note which shall be credited toBuyer at the closing of this Agreement. This paragraph shall represent a promissory note for earnest money payable upon the successfulclosing. Seller shall pay all delinquent taxes and assessments that may hereafter become due on property at closing.
Seller warrants that Seller has good, clear and marketable title to the Property, subject on to property taxes and any easements andrestrictions of record. Seller will convey title to Buyer with a General Warranty Deed. Buyer will inspect title to the Property and Seller willsatisfy any encumbrances other than the aforementioned.
Closing and Possession:
This agreement shall be closed on or before thirty days after acceptance with an automatic extension as neededfor additional title work and/or paperwork and shall extend for thirty days after all paperwork and title work is completed. Time is of theessence of this Agreement. Property taxes shall be prorated as of the date of closing.
Access and Advertising:
Seller agrees that Buyer may advertise property, put up signage and be given a key and have access duringreasonable hours to show property to others. Seller warrants that no notice of violation from any city, state, county, or other governmentagency in relation to said property has been received. Seller agrees to complete and sign all required property disclosure forms for said property prior to closing.
Seller acknowledges that Buyer is purchasing said property for the purpose of profit through assigning of agreement, contracting, resale, rehabilitation, renovation or rental. Buyer has the right to assign this Agreement and the terms and provisionshereof shall be binding upon and inure to the benefit of the parties hereto, their successors, representatives, heirs and assigns.
Buyer will have Buyer’s attorney/closing agent prepare all required documents to complete this Agreement. Buyer shall pay all standard escrow, title insurance & doc prep fees. Any additional title & curative legal fees shall be paid by Seller. This agreement shall be made a part of or be used as the escrow instructions. This Agreement shall survive the closing, execution and delivery of the GeneralWarranty Deed, as agreed herein by the undersigned.
This Agreement is subject to an inspection of the Property and approval by Buyer and/or his associates after acceptance of thisAgreement by Seller.
Buyer will buy the Property in its present “As-Is” condition with all appliances, window treatments, blinds,ceiling fans, lighting and plumbing fixtures, all plants and shrubbery and anything attached to the property.
Seller shall remove alltrash from inside and outside property and leave property broom swept prior to closing.
If Buyer defaults under this contract, any and all monies deposited by Buyer shall be retained by Seller as full liquidateddamages. If Seller defaults, Buyer may pursue all remedies allowed by law, including but not limited to specific performance and seller agreesto be responsible for all costs incurred by buyer as a result of seller’s default.
ADDITIONAL TERMS, CONDITIONS OR EXHIBITS:
Seller represents that there are no parties in occupancy other than Seller. Buyer will be given occupancy at closing. Any personal propertyremaining after closing shall become the personal property of Buyer and Buyer shall have the right of disposal of same. Unless otherwiseagreed to by Buyer in writing, any tenant, if appropriate, shall be terminated and shall have vacated the property prior to the closing of thisAgreement. If tenant occupied, Seller shall pay all security deposits & a prorata of collected rents to Buyer at closing.
THIS OFFER SHALL EXPIRE IF NOT SIGNED, ACCEPTED & RETURNED TO BUYER UPON DELIVERY OR BY THEEXPIRATION OF 48 HOURS: ON / / 20 AT 4:59 PM.
This being the entire Agreement between the parties, they approve this Agreement on this
____________, 20_____.X________________________________________X_____________________________________________ Buyer:Seller: _______________________________________ Phone: Fax:Phone/ Fax: __________________________________ X_______________________________________X_____________________________________________ Buyer: ________________________________Seller: ______________________________________