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___________________________________________, of
W I T N E S S E T H:
1. The Sellers agree to sell to Buyers and Buyers agree to purchase from Sellers
described in a Deed into Sellers recorded in Warren County Record Book ____,
Page ____, the parcel being conveyed to contain ____ (___) acres, more or less.
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Commercial Real Estate Agreement Page 2 of 6
$__________.00 hand money (the “Deposit”) prior to the signing of this Agreement to be
closing toward the total purchase price. This Agreement is contingent, however, on the
Closing shall take place on or before ____________________. If the Buyers are not able
then this Sales Agreement shall be null and void and all deposit monies paid by the Buyers
shall be promptly refunded to the Buyers. Buyers may request, however, an extension to
extension may be signed if the parties mutually agree to said extension before
___________________, they shall have a minimum of fifteen (15) days after the closing
3. Allocations. The Sellers and the Buyers hereby agree that the Purchase Price
shall be allocated as provided herein, and that the following allocations are fair and
reasonable and the product of the negotiation between the Sellers and the Buyers of the
Land $_______.00
Buildings $_______.00
Total $_______.00
4. Sellers and Buyers shall each pay one-half of the Pennsylvania and Local Realty
5. The 200__-200__ real estate taxes shall be prorated as of the date of closing,
with the Township and County taxes being prorated on a calendar-year basis, and School
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6. Risk of loss from fire or other casualty shall remain with the Seller until closing.
7. The Sellers shall not commit waste and shall maintain the property and lands in-
like condition until closing. Buyers shall have the right prior to closing to inspect the
property upon giving forty-eight (48) hours written notice to the Sellers’ attorney.
8. The first-floor cook range in the east wing, the second-floor refrigerator, range,
oven, microwave, and dishwasher in the east wing, the first-floor cook range in the west
wing, and the first-floor washer and dryer in the west wing are to be conveyed with the real
estate. All appliances shall be in good working order at the time of closing.
9. The Buyers are hereby notified that the premises described in this Agreement are
not serviced by a community sewage treatment facility, but require an on-site septic
system. Buyers should contact the local agency charged with enforcement of the
Pennsylvania Sewage Facilities Act to learn the requirements prior to signing this
Agreement.
10. As of the closing date, to best of the Sellers’ knowledge, the Sellers represent
(a) The Sellers are not nor is the property in violation of any law,
11. Sellers certify that, to the best of their knowledge, information, and belief, there
have been no hazardous substances dumped on the premises by any person, firm, or
entity and that the Deed conveying the premises will contain a “hazardous waste clause.”
12. The parties agree to comply with the Federal Lead Disclosure Act and the
Pennsylvania Real Estate Sales Disclosure Act Laws and to execute the necessary
disclosure statements.
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13. Sellers shall bear all responsibility for any broker’s commissions payable
to Stephens Real Estate or to any other broker arising out of this transaction.
Deed, and title to the premises shall be good and marketable in the opinion of an attorney
for the Buyers, based on a sixty-year title examination to a good and sufficient General
Warranty Deed. Any exception and reservation for oil, gas, and minerals in, on, and under
the premises existing in favor of another party in the chain of title will not be considered a
defect in title or anything which would take away an otherwise good and marketable title to
15. At closing, the Sellers shall deliver to the Buyers a right-of-way, which shall be
recorded, that will allow the Buyers and their invitees and their successors and assigns, to
use the paths and trails for walking only (no ATV’s, horses, etc.), not inconsistent with the
Long-Term Timber Contract, on the following two adjacent parcels of land of the Sellers:
16. Sellers shall, before selling either of the two (2) adjacent properties of land
listed below, first offer property to the Buyers, at a price to be named by the Sellers; and if
the Buyers do not accept such offer within twenty (20) days, then the Sellers may sell either
of the two (2) adjacent properties to any other person or persons but only at the same price
and terms. The two (2) adjacent parcels of land that the Sellers are giving the Buyers a
17. The Buyers may have the property surveyed within one (1) year from the date
of the closing. The Buyers shall escrow $2,500 from the Sellers’ sales proceeds, which
shall be applied to the actual cost and expense of the survey. If no survey is performed
within one (1) year from the date of closing or if the actual cost of the survey is less than
$2,500, then the Buyers shall promptly refund the balance of the monies held in the escrow
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18. Within 25 days of the execution of this Agreement, Buyers, at Buyers’ expense,
qualified professionals. Should Buyers elect to have a home inspection of the Property, as
defined in the Pennsylvania Home Inspection Law, such home inspection shall be
accordance with the ethical standards and code of conduct or practice of that association.
If Buyers are not satisfied with the condition of the Property as stated in any written report,
Buyers will:
b) Terminate this Agreement in writing within fifteen (15) days of the inspection by
notice to Sellers, in which case all deposit monies paid on account of purchase price will be
c) Enter into a mutually acceptable written agreement with Sellers providing for any
repairs or improvements to the Property and/or any credit to Buyers at settlement. Should
efforts to reach a mutually acceptable agreement fail, Buyers must choose to accept the
prior to the closing, in which event the Deposit and all interest earned thereon shall belong
to the Buyers, Seller shall have no further obligation or liability to the Buyers and the
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__________________________________________
Seller
__________________________________________
Seller
__________________________________________
Buyer
__________________________________________
Buyer
_________________________________________________________________________________
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