REAL ESTATE PURCHASE CONTRACT
THIS AGREEMENT, dated this
day of
,
, by and between
(name of purchaser) of
(address of purchaser), hereafter referred to as the Buyer, and
(name of seller) of
(address of seller), hereafter referred to as the Seller, recites the following terms and conditions:
1.
Promise to Purchase Real Estate: The party of the Seller has agreed to
sell certain real estate to the party of the Buyer in conjunction with the consideration,
terms and conditions of this agreement. This agreement is subject to the various laws
of the State of
and may be filed with the appropriate governmental entity in
order to provide proper notice to any interested parties and the public.
2.
Description of Property: The property sold by the party of the Seller to the
party of the Buyer is legally described as:
(provide legal description of property)
The aforementioned property may be subject to various zoning restrictions,
easements, restrictive covenants, rules, regulations and laws as a survey of the
premises, review of the abstract and the examination of various title documents may
demonstrate. The party of the Second Part shall make available to the party of the
First Part such documents for review when appropriate or when requested.
3.
Consideration: The Buyer shall pay the purchase price of
$
(total purchase price) to the Seller for the above-described premises,
exclusive of any amounts of interest that may be due by the Buyer to the Seller,
pursuant to the following. A down payment of $
(amount paid down) shall be paid by the Buyer to the Seller on the
day of
,
. The balance of the purchase price $
(purchase price minus down payment) shall be paid by the Buyer to the Seller plus interest at the rate of
% per month and shall be due on the
day of each and every month. The first monthly payment shall be made on the
day of
,
, with a payment on the
day of every month thereafter until the
day of
,
. |