OFFER TO PURCHASE REAL ESTATE – PRO BUYER

Real estate investment as resourceful prospects for long term capital gains

Real estate and property investment though are resourceful prospects of long term capital gains; there are hardly any benefits which are available during their initial stage of investment. In recent times, several online sites and forums have been made available for prospective buyers of property. Besides new listings and updated databases of profitable real estate property, these forums also offer to the users with pre-printed forms related to capital investment. Besides helping people to be familiar with the related documents and terms, these forms also reduces the dependence on real estate lawyers and attorneys and makes the entire process easier.

Special benefits for buyers

One of the advantages that can be availed after opting for a pre-printed form of OFFER TO PURCHASE REAL ESTATE—PRO BUYER is that the buyers of property are guaranteed more advantages and perks while purchasing their chosen real estate. Apart from the consideration statements and general legal essentialities, the property buyers are offered more facilities in this form of agreement. Hence this form of agreement is often regarded as the pro buyer agreement.

Get summarized details of the purchase price

Summary of the purchase price, total purchase price, seller financing and its existent status are few of the existing elements which can be found in such documents. The form also regards OFFER TO PURCHASE REAL ESTATE—PRO BUYER in a different way. With a clear description of the property condition and status of the property, for example windows, fixtures, hardware and outdoor trees as well, the buyers are at a gain to know more about the condition of the property and get it stated on a legal platform that is the following document. Due its benefits, it is considered to be one of the primary documents by the buyers.

(No Ratings Yet)

Sample Template Preview

OFFER TO PURCHASE REAL ESTATE

()()()()()()()()()()()()()()()()()()()()()()()()()()()FOR GOOD CONSIDERATION this agreement dated this __________ day of __________, 20___ by and between ___________________________________________________________,  as Seller(s) and ____________________________ as Buyer(s) which terms may be singular or plural and will include the heirs, successors, personal representatives and assigns of Seller(s) and Buyer(s), hereby agree that Seller(s) will sell and Buyer(s) will buy the following property, upon the following terms and conditions if completed or marked.  If any conflict of terms or conditions, that which is added will supersede that which is printed or marked.

1) Description of real estate is located in _________________________ County, State of ______________________ known by street address as ____________________ _____________________________.  The description unless specifically excluded, all other items will include any fixtures, window and floor coverings, built-in appliances, draperies including hardware, shades, blinds, window and door screens, awnings, outdoor plants, trees, and other permanently attached items now on premises.

2) Purchase Price:  Seller(s) agrees to convey property to Buyer(s) for the sum of ______________________________ ($_______) with earnest money in the amount of ______________________________ ($_______) held in escrow by agent of Buyer(s)’s choice and will be sole remedy without further recourse between parties upon default of this agreement to be retained by Seller(s).

Summary of Purchase Price:
Earnest money deposit—————————————$__________
Subject-to existing loans with approximate balance—–$__________
Subject-to existing loan payments in arrears in order     $__________
to make loans current(including late fees).
Seller Financing(see below)———————————$__________
Balance due Seller(s) at closing—————————–$ __________
* excludes closing costs unless otherwise stipulated within this agreement
Total Purchase Price $__________

3) Seller Financing: The balance due to Seller(s) if seller financing applicable will be evidenced by a negotiable promissory note in the amount of $ ___________ mortgage or Trust Deed and delivered by Buyer(s) to Seller(s) dated the date of closing, amortized on the basis of __________ years, payable at $_____ per month including principal and interest at a rate of ______% per annum.

Seller(s) understands and agrees that mortgage securing said loan will be and remain subordinate to any mortgages currently attached to property in the approximate amount of $____________.  Seller(s) agrees that in the event said security is mortgage encumbering property that said mortgage or deed of trust shall not contain any “due on sale” or similar restrictions.

4) Existing Financing:  Seller(s) agrees and understands that Buyer(s) is taking property “subject-to” any such mortgages, deeds of trust encumbering said property and is not expressly assuming responsibility for the underlying loan(s).  Any loan balance in actuality that is less than herein shall reflect the difference in additionally paid cash to Seller(s) or if loan balance in actuality herein is more, then Buyer(s)’s required cash payment due to Seller(s) at closing will be reduced accordingly.  All taxes and insurance escrows held by any lender and or its/assigns will be waived by Seller(s) at closing.

5) Closing:  Closing will commence on or before ___________, 20__, at time and place designated by Buyer(s) choice of escrow, title and/or closing agent.  Title will be conveyed by Warranty Deed and taxes will be pro-rated unless otherwise specified.

The Seller(s) will pay for the following closing costs:  ____________________________ ________________________________________________________________________

The Buyer(s) will pay for the following closing costs: ____________________________ ________________________________________________________________________

Closing may be extended an additional THIRTY (30) days with Buyer(s) submitting in written explanation of reasoning and is working in “due diligence” to honor all provisions of this agreement contained herein.

6) Examination Of Title:  Buyer(s) will examine title to property and reserves right to rescind this contract null and void if financial encumbrances on said property are more than originally stated in good faith to Buyer(s).

7) Inspection: Upon closing date Buyer(s) reserves right to do final inspection of premises that condition of property is not significantly in adverse condition from date of this agreement and this agreement is contingent upon meeting satisfactory inspection.

8) Execution: Time is of the essence in this agreement and there are no other agreements, promises or understandings between these parties except as specifically set forth herein.  Furthermore, this agreement shall become effective as of the date of the last signature.

9) Property Access:  Access to property shall be granted to Buyer(s) with a key, solely for the purposes of showing property to interested parties pertinent to this agreement inclusive of Buyer(s)’s partners, contractors, property inspectors, and lenders.

Seller_______________________     Date_____________________

Seller_______________________     Date_____________________

Buyer______________________       Date_____________________