Contract for Sale and Purchase


____________________(1)_____________________________, as
"Seller", of ________(2)____________, Phone: _____(3)________,
and ______________(4)___________________ as "Buyer" of
_______________(5)_______________, Phone:
_______(6)__________, hereby agree that the Seller shall sell
and Buyer shall buy the following property upon the following
terms and conditions:


a)   Legal description of real estate ("Property") located in
_______(7)________ County, _______(8)_________:

b)   Street address, if any, of the Property being conveyed

c)   Personal property including all buildings and
improvements on the property and all right, title and interest
of Seller in and to adjacent streets, roads, alleys and
rights-of-way, and:

II.  PURCHASE PRICE                $_______(9)______

a)   Cash Deposit(s) to be held in escrow by
_____________(10)________________ in the amount of
$______(11)______ and promissory note to be held in same
escrow as additional earnest Buyer's default in the amount of

b)   Assumption of Mortgage in favor of
_____________(13)_________________ bearing interest at
___(14)____% per annum and payable as to principal and
interest $_____(15)______ per month, having an approximate
present principal balance of $______(16)______

c)   Purchase money mortgage and note bearing interest at
___(17)___% on terms set forth herein below, in the principal
amount of $______(18)______

d)   Other:  $______(19)______

e)   Balance to close, (U.S. Cash, certified or cashier's
check) subject to adjustments and prorations $______(20)______

TOTAL     $_______(9)______


a)   Preliminary Title Report. Within twenty (20) days from
the date hereof, Seller, at Purchaser's sole cost and expense,
shall cause a title insurance company ("Title Company") to
issue and deliver to Purchaser an ALTA Form B title commitment
("Title Commitment") in the full amount of the Purchase Price
of the real estate. Purchaser shall pay the premium for the
policy at or before the closing as set forth herein. In the
event title is found to be unmerchantable because of title
defects, Purchaser or his attorney shall notify the Seller or
its attorney in writing within five (5) days of the date of
receipt of said Title et forth herein. In the event title is
found to be unmerchantable title to the property and Seller
shall have a period of one hundred twenty (120) days after
receipt of such written notice within which to cure said
defects in title and this sale shall be closed within ten (10)
days after written notice of such curing Upon Seller's failure
to cure defects of which written notice has Upon Seller's
failure to cure defects of which written notice has been
given, within the time limit aforesaid, the deposit this day
paid shall be returned and all rights and liabilities arising
hereunder shall terminate, or Purchaser may close this
transaction in the same manner as if no title defects had been

b)   Survey. If the Purchaser desires a survey of the
Property, it may have the Property surveyed at its expense
prior to the closing date. If the survey shows encroachments
on the Property herein described, or that the improvements
located on the Property herein described encroach on other
lands, written notice of that effect shall be given to the
Seller and Seller shall have the same time to remove such
encroachments as is allowed under this Agreement for the
curing of defects of title (see Section III a) herein). If the
Seller shall fail to remove or cure said
encroachments within the period of time, then the deposit this
day paid shall be returned to Purchaser and all rights and
liabilities arising hereunder shall terminate, or Purchaser
may close this transaction in the same manner as if no defects
had been found.


a)   Closing Date. The consummation of the transaction
contemplated by this Agreement ("Closing") shall take place at
such place as designated by Seller on or before
_____(21)______, or at such earlier date as agreed mutually,
unless extended by other provisions hereof.

b)   Seller's Obligation at Closing. At Closing, Seller shall
do the following:

Execute, acknowledge, and deliver to Purchaser a Warranty Deed
conveying the Property to Purchaser subject to:

(i)  taxes and assessments for year of closing and subsequent

(ii) restrictions, easements and zoning ordinances of record,
if any;

(iii) public utility easements of record, if any;

(iv) Mortgage to be assumed as described above; Any variance
in the amount of said mortgage from the amount stated herein
shall be added to or deducted from either the cash payment or
the second mortgage as the Seller may elect.

(v)  Other:

c)   Purchaser's Obligations at Closing. Subject to the terms,
conditions and provisions hereof, and concurrently with the
performance by Seller of its obligations set forth in Section
IV b) above, Purchaser shall deliver to Seller cashier's check
or other immediate local funds in the amount set forth in
Section II of this Agreement.

d)   Closing Costs.

Seller shall pay the following costs and expenses in
connection with the Closing:

(i)  Documentary stamps which are required to be affixed to
the Warranty Deed;

Purchaser shall pay the following costs and expenses in
connection with the closing:

(i) The intangible tax required by law on the mortgage.

    (ii) All recording costs, including recording of the deed,
mortgage, and any documents required in connection with the
title insurance commitment.

    (iii) The premium payable for the title commitment and
title policy issued pursuant thereto.

    (iv) Survey work.

e)   Proration of Taxes. Taxes for the year of the Closing
shall be prorated to the date of Closing. If the Closing shall
occur before the tax rate is fixed for the then current year,
the apportionment of taxes shall be upon the basis of the tax
rate of the preceding year applied to the latest assessed


a)   Default by Purchaser. If Purchaser fails to perform this
Agreement, the deposit this day paid by Purchaser as aforesaid
shall be retained by or for the account of Seller as
consideration for the execution of this Agreement. In such
event the parties agree that said sum shall constitute
liquidated damages since both Purchaser and Seller agree that
actual damages for default or breach of contract could not
readily be ascertained at the date of execution of this

b)   Default by Seller. If Seller fails to perform this
Agreement, the aforesaid deposit shall be returned to
Purchaser and this shall be the sole remedy of Purchaser under
this Agreement.


a)   Notices. Any notice to be given or to be served upon any
party hereto, in connection with this Agreement, must be in
writing, and may be given by certified mail and shall be
deemed to have been given and received when a certified letter
containing such notice, properly addressed, with postage
prepaid, is deposited in the United States Mail; and if given
otherwise than by certified mail, it shall be deemed to have
been given when delivered to and received by the party to whom
it is addressed. Such notices shall be given to the parties
hereto at the addresses stated above.

Any party hereto may, at any time by giving five (5) days'
written notice to the other party hereto, designate any other
address in substitution of the foregoing address to which such
notice shall be given and other parties to whom copies of all
notices hereunder shall be sent.

b)   Assignability. The Purchaser is prohibited from assigning
all or any part of this Agreement.

c)   Entire Agreement; Modification. This Agreement embodies
and constitutes the entire understanding between the parties
with respect to the transaction contemplated herein. All prior
or contemporaneous agreements, understandings,
representations, and statements, oral or written, are merged
into this Agreement.  Neither this Agreement nor any provision
hereof may be waived, modified, amended, discharged, or
terminated except by an instrument in writing signed by the
party against which the enforcement of such waiver,
modification, amendment, discharge or termination is sought,
and then only to the extent set forth in such instrument.

d)   Applicable Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of

e)   Headings. Descriptive headings are for convenience and
shall not control or affect the meaning or construction of any
provision of this Agreement.

f)   Binding Effect. This Agreement shall be binding upon and
shall inure to the benefit of the parties hereto and their
successors and assigns.

g)   Counterparts. This Agreement may be executed in several
counterparts, each constituting a duplicate original, but all
such counterparts constituting one and the same Agreement.

h)   Interpretation. Whenever the context hereof shall
require, the singular shall include the plural, the male
gender shall include the female gender and the neuter, and
vice versa.

i)   Severability. In case any one or more of the provisions
contained in this Agreement shall for any reason be held to be
invalid, illegal or unenforceable in any respect, such
illegality or unenforceability shall not affect any other
provision hereof, and this Agreement shall be construed as if
such invalid, illegal or unenforceable provision had never
been contained herein.

j)   Section 1031 Exchange. Upon request by Seller, Purchaser
shall cooperate with Seller in order to effectuate the goal of
Seller to have this transaction qualify for a tax deferred
treatment under Section 1031 of the Internal Revenue Code of
1986, as amended, provided that Purchaser is put to no
additional expense, in this regard, and that the closing is
not materially delayed. Formal provisions detailing the
exchange shall be entered into by the parties and made a part
of the final contract of exchange, no later than as such time
as Purchaser shall acknowledge satisfaction of the
contingencies to its obligation to close this transaction.

k)   Time for Acceptance & Effective Date. If this offer is
not executed by both parties hereto on or before
____(23)_______, the aforementioned deposits shall be returned
to Purchaser, and this offer shall thereafter be null and
void. The date of the Agreement ("Effective Date") shall be
the date when the last one of the Seller and Purchaser has
signed this offer.

IN WITNESS WHEREOF, the parties hereto have executed this

Witnesses:                              "Purchaser"

__________(24)___________     _____________(25)______________

__________(24)___________     Date: _______(26)______________

__________(24)___________     _____________(27)______________

__________(24)___________     Date: _______(26)______________


__________(24)___________     _____________(28)______________

__________(24)___________     Date: _______(26)______________

__________(24)___________     _____________(29)______________

__________(24)___________     Date: _______(26)______________

                                     "Escrow Agent"

__________(24)___________     _____________(30)______________

__________(24)___________     Date: _______(26)______________


The information in this document is designed to provide an outline that you can follow when formulating business or personal plans. Due to the variances of many local, city, county and state laws, we recommend that you seek professional legal counseling before entering into any contract or agreement.

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