Agreement for the Sale and Purchase of Real Estate
Document Sample
Agreement for the Sale and Purchase of Real Estate Powered By Docstoc

The undersigned Sellers agree to sell and the undersigned Buyers agree to buy the herein
described property on the terms and conditions stipulated in the following schedule. Both
Buyers and Sellers acknowledged that Century 21, Realtors, hereinafter called Broker, is the
procuring cause of this sale.

1.     Property Description: Lot 5, Sandalwood Subdivision, a subdivision according to
       plat book 6, page 81, in the land records of the Chancery Clerk of Hinds County, at
       Jackson, Mississippi, and all improvements thereon known as 151 Glenside Drive,
       Jackson, Mississippi, along with all fixtures, including window and floor coverings,
       heating and air-conditioning equipment, built-in appliances, attached mirrors, lighting
       fixtures, ceiling fans, flowers and shrubs, curtain rods, mail box, T.V. antenna, and ail
       other items permanently attached unless specifically excluded herein.

2.     PRICE:       The purchase price of the property is ......................................... $100.000.00
                    Payable as follows:

              (a)   Cash down payment ..................................................................... $ 10,000.00

              (b)   Buyers shall qualify for a new loan
                    described below in the amount of ................................................ $ 90,000.00

       This contract is contingent on Buyers obtaining a fifteen-year loan at no greater
than nine percent by closing

3.     CERTAIN COSTS PAID BY: Discount Points BUYERS; Origination Fee BUYERS; Loan
       Title Insurance BUYERS; Transfer Fees N/A; PMI BUYERS; Attorney's Fee SELLERS;
       Survey SELLERS; Appraisal SELLERS; Termite Certificate SELLERS; Other Closing
       Costs BUYERS
4.     DEPOSIT: Buyers have deposited with Broker the sum of $1,000.00 cash as earnest
       money. The same is to be applied to the cash down payment on closing of this
       transaction. Should Buyers require approval for a specified loan for any part of the
       purchase price, and after applying therefor in good faith, be unable to secure such loan,
       then the earnest money shall be returned in full to Buyers. However, should Buyers fail
       or refuse within five days of this contract to apply for such loan or refuse to diligently
       pursue loan approval, or fail or refuse within fifteen days after the issuance of a loan
       commitment, to execute all documents necessary for said loan, Buyers shall be
       considered in default under the terms of this contract and Sellers shall have such
       recourse as is delineated in paragraph 13 herein.

5.     CLOSING DATE: June 30, 1995; POSSESSION DATE: July 1, 1995.

Shared By:
Description: Contract to buy and sell real property
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),