[Place and date]
Received from _________, purchaser, the sum of $_____ as earnest deposit and as part of the cash consideration for the purchase of the following described property situated in the _________ of _________, _________, known or described as: _________ together with (if any) the improvements on it and appurtenances, fixtures and equipment belonging to it (which seller guarantees to own), including all lighting, heating, cooling and plumbing equipment and fixtures, attached linoleum, radiator shields, shades, curtain and drapery fixtures, venetian blinds, shutters, storm sash, screens, awnings, ventilating and exhaust fans, water heaters, stokers, oil and gas burners, trees and shrubs, and all articles now provided for tenant use: _________, which property is this day agreed to be sold to purchaser, subject to approval of seller by noon of _________[date] and not otherwise (and if not so approved earnest deposit shall be returned to purchaser) for the total sale price of $_____ on the following terms:
Earnest deposit made as per this receipt
Additional earnest deposit to be made by purchaser on _________[date]
Cash to be paid on closing date of sale as fixed below (subject to adjustments as provided below)
Deed or deeds of trust of record, subject to which title shall be transferred
Deed or deeds of trust to be accepted by seller as part purchase money
The sale under this contract shall be closed under the sale conditions and closing practices of the _________ Real Estate Board, and subject to any special agreements between seller and purchaser, all set forth on the reverse side of this contract and expressly made a part of this contract, as fully and effectually as if they were incorporated in it, at the office of _________ Realtor, on _________ or on such prior date as the parties may agree. All adjustments referred to on the reverse side are to be made as of _________. Title to pass when sale is closed. Time is of the essence of this contract.
Possession of property to be delivered to purchaser _________.
Deed to _________
Approved on date first above written: _________ Realtor is authorized to order title examined.
I/we agree to pay _________ the commission as provided under the schedule of the _________ Real Estate Board, to be a lien on the property.
Sale Conditions and Closing Practices
Earnest deposit to be retained by seller’s agent, without interest, but agent shall not be liable for earnest deposit until actually in form of cash in hands of agent; if sale is closed, earnest deposit to apply on sale commission; if purchaser fails to pay additional earnest deposit when due (if required by contract) or if sale be not closed by date fixed for it owing to failure of performance by purchaser, earnest deposit shall be forfeited by purchaser, but purchaser shall nevertheless be bound to fulfillment of contract if so determined by seller, but this shall not entitle purchaser to enforce sale. Forfeited earnest deposit shall go first toward reimbursing expenses of agent incurred in this transaction, and balance to go one-half to seller and one-half to agent in full of commission.
Rents, general taxes based on latest available assessment, and, rate, subdivision upkeep assessments, interest, insurance premiums, water rates, gas and electric bills, fuel supply and operating expenses (if any) to be prorated and adjusted as provided; general tax year to run from January 1st; delinquent rents, over 30 days, if any, to be collected by seller and not adjusted. Purchaser to pay all recording fees.
Seller shall furnish general warranty deed, subject to deed restrictions, easements, rights-of-way of record, and zoning regulations; also subject to occupancy of tenants and lessees existing on the date contract is executed by purchaser; general taxes payable in current year and after, and special taxes assessed or becoming a lien after date contract is executed by purchaser; the general and special taxes to be assumed and paid by purchaser. Title shall be merchantable. All personal property included in this sale is guaranteed by seller to be paid for in full.
If title is merchantable, purchaser shall pay for certificate of title; if title is found imperfect and seller cannot perfect title within _________ days after date fixed for closing, earnest deposit shall be returned to purchaser, and seller shall pay to agent the sale commission and other costs including title charges.
If, after contract is executed, the premises be destroyed or damaged by fire, windstorm or otherwise, seller shall restore same within _________ days if possible and sale closing date shall be extended accordingly, but otherwise purchaser shall have option of cancelling or enforcing contract; if enforced, purchaser shall be entitled to insurance; if cancelled, earnest deposit shall be returned to purchaser. In either event agent shall receive full sale commission. Seller shall assume risk of such destruction or damage and shall have the obligation to obtain consent of insurance companies to sale contract.
If improvements or additions have been completed within _________ months prior to sale closing date, seller shall furnish reasonable security against mechanics’ liens or satisfactory evidence of payment of bills.
Property to be accepted in its present condition unless otherwise stated in contract. This is the entire contract and neither party shall be bound by representations as to value or otherwise unless set forth in contract.
The words purchaser, seller, agent and deposit where appearing in this contract shall be construed in the plural, if more than one.
This contract may be assigned only with the written consent of all parties to it, and shall bind the heirs, legal representatives, successors and assigns of the parties.
Special agreements between seller and purchaser forming part of contract: _________.
Memorandum of List of Tenants (Showing All Concessions and Prepayments)
Names of Tenants
Amount of Rent
Date Paid To
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