as well as the [Buyer.FirstName] [Buyer.LastName] (Buyer), known collectively as Parties.
The Property subject to this Agreement is described as (Property Description), located at (Property Address), and legally defined as (Legal Description), collectively referred to as
Both Parties hereby represent and warrant that they have the legal capacity and authority to enter this Agreement. The Parties further agree that they have got all necessary approvals. They have also received all necessary consents to execute this Agreement.
All parties consent to the terms and conditions outlined by entering this Agreement. Their heirs, successors, and assigns also consent, and this Agreement will enforce these terms with full authority.
Include a clear Property description specifying the space, the type of land, and the exact location of the land. Providing accurate Property information ensures both parties understand the transaction details.
The Property includes all land, improvements, fixtures, and appurtenances. The Seller states and guarantees they have legal ownership of the Property and the right to sell it. The Seller will ensure that the Property is without liens, encumbrances, or claims.
The Seller agrees to sell, and the Buyer agrees to purchase the Property, as this Agreement outlines. The Parties will complete the sale and purchase of the Property to meet all requirements. This Agreement presents these conditions as a precedent. Both Parties have agreed to join in good faith to complete the sale and purchase of the Property as specified in this Agreement.
The Purchase price is crucial to a simple real estate purchase contract. It specifies the amount of money exchanged to complete the land acquisition and outlines the payment method.
The Buyer shall pay the Seller a total (Purchase Price) cost for the Property. The Buyer will pay the Purchase Price as follows: (Payment Terms). The Buyer will deposit an earnest money deposit of (Earnest Money Amount) with an escrow agent agreed upon by the Parties. The Buyer must make this deposit within (Number of Days) days of the Effective Date of this Agreement.
The Seller will provide the Buyer with a commitment for title insurance. A reputable title insurance company will issue this insurance within (Number of Days) days of the Effective Date of this Agreement. The Buyer will have (Number of Days) to review the title commitment and notify the Seller of any objections.
The Seller will use reasonable efforts to cure any title defects before closing. The Buyer may get a survey of the Property at their expense within (Number of Days) days of the Effective Date.
The Buyer will have (Number of Days) days from the Effective Date of this agreement to conduct inspections of the Property. The "Inspection Period" refers to this time frame. The Buyer may end this agreement for any reason during the Inspection Period by providing written notice to the Seller.
If the Buyer does not terminate this agreement during the Inspection Period, the Buyer accepts the Property in its current condition. This acceptance is subject to the representations and warranties of the Seller.