SALES CONTRACT FOR BUYING SUBJECT-shortsale
Sales contract for buying subject
The purchase and the sale agreement for real estate is made by the seller and the buyer and dated. In the agreement the entire details of the seller as well as the buyer are mentioned including the addresses of both.
In this agreement it states that the parties both agree that the seller will sell the property to the buyer whose details are mentioned. The details of the property too are mentioned in the agreement and it further informs that it includes the fixtures as well as the personal property. Incase there are any exceptions, that is needed to be explicitly mentioned.
It states that except for those items which are mentioned, everything else is all included in the sale, regardless of if it is fixed or not. It also mentions that the seller will ensure that the improvements, the building, the structures, appliances, plumbing, the roof, ventilation as well as heating systems are all in good working condition. This will be upheld even after the title has been closed.
The agreement also states the purchase price which the buyer will pay and the breakup in terms of the earnest money, the owner financing from the seller as well as new loans, any subject to existing loans and the balance of cash which is due at closing. The price is dependent on the appraisal by the buyer or the agent that he employs.
It also states that the earnest money of the buyer will be held in escrow by an agent that the buyer chooses.
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