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Contract For Sale Of Real Estate
CONTRACT made on [Date] by and between [Name] of [Address], hereinafter referred to as "Seller", and [Name] of [Address], hereinafter referred to as "Buyer" do hereby agree as follows:
The Seller now owns the following described real estate, located at [Address]:
For valuable consideration, the Seller agrees to sell and the Buyer agrees to buy this property for the following price and on the following terms:
1. The Seller will sell this property to the Buyer, free from all claims, liabilities, and indebtedness. The following personal property is included in this sale:
[Complete description of realty property].
2. The Buyer agrees to pay the Seller the sum of [$------], which the Seller agrees to accept as full payment. This contract, however, is conditional upon the Buyer being able to arrange suitable financing on the following terms at least [--] days prior to the closing date for this contract:
3. The purchase price will be paid as follows:
4. The Seller acknowledges receiving the money deposit of [$------] from the Buyer. If this sale is not completed for any valid reason, this money will be returned to the Buyer without penalty or interest.
5. This contract will close on [Date], at 00.00 A.M./P.M., at [Address].
At that time, and upon payment by the Buyer of the portion of the purchase price then due, the Seller will deliver to Buyer the following documents:
(a) [ ] A Bill of Sale for all personal property
(b) [ ] A Warranty Deed for the real estate
6. At closing, pro-rated adjustments to the purchase price will be made for the following items:
(b) Property taxes, and
(c) The following other items: [Enumerate].
7. The following closing costs will be paid by the Seller:
8. The following closing costs will be paid by the Buyer:
9. Seller represents that it has good and marketable title to the property, and will supply the Buyer with either an abstract of title or a standard policy of title insurance. Seller further represents that the property is free and clear of any restrictions on transfer, claims, indebtedness, or liabilities except the following:
Seller also warrants that all personal property included in this sale will be delivered in working order on the date of closing.
10. The parties also agree to the following additional terms:
11. No modification of this contract will be effective unless it is in writing and is signed by both the Buyer and Seller. This contract binds and benefits both the Buyer and Seller and any successors.
12. In connection with this contract and the transactions contemplated hereby, each party to this Contract will execute and deliver any additional documents and perform any additional acts that may be necessary or appropriate to effectuate and perform its obligations under this contract and the transactions contemplated hereby.
13. Time is of the essence of this contract.
14. This contract, including any attachments, is the entire contract between the Buyer and Seller.
15. This contract is governed by the laws of the State of [State].
IN WITNESS WHEREOF, the parties have executed this contract the day and year as first above written at [City], [State].
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]