Florida Vacant Land Contract

Print Form Email Form Clear Form Florida Vacant Land Contract 1. PARTIES: _________________________________________________________________________________ (“Seller”) and ________________________________________________________________________________________ (“Buyer”) hereby agree that Seller shall sell and Buyer shall buy the following described Real Florida Property on the terms and conditions as described as: 2. PROPERTY: Legal Description: _____________________________________________________________________________________ ____________________________________________________________________________________________________ ____________________________________________________________________________________________________ ____________________________________________________________________________________________________ _______________________________ County:_______________________ Parcel ID: ______________________________ Florida Address: _______________________________________ City: _____________________ State: __________ Zip: ________ 3. PURCHASE PRICE: …………………………………………………..…………………..…………. $_______________________ PAYMENTS:(payable in U.S. funds, via bank draft, HiFx, bank wire or other electronic means) (a) Deposit Amount (Due to Title Agent by __________________ )………………………. $_______________________ (Escrow Title Agent is designated within item #13 below) (b) Total financing, if any (see Paragraph 4 below)….………………………………………… $_______________________ 0 (c) Balance Due at Closing (not including Buyer’s closing costs, if any)….………………… $_______________________ 4. CASH/FINANCING: (Check as applicable): (a) __ Buyer will pay cash for the Property with no financing contingency. (b) __ Buyer will obtain private financing from Seller. 5. CLOSING DATE: This contract will be closed and the deed and possession delivered on or before ___________________, unless specifically extended, or by any other provision in this Contract. 6. CLOSING PROCEDURE; COSTS: Closing will take place with the specified Escrow Title Agent and may be conducted by mail or electronic means. Title Agent will disburse at closing the net sale proceeds to Seller and brokerage fees to broker, if any. Seller and buyer will pay their respective costs as indicated below unless otherwise stated. (a) Seller & Buyer Line Item Costs: Seller (1) (2) (3) (4) (5) (6) (7) State transfer taxes on the Deed Recording fees of the Deed Recording fees of any documents needed to cure title Real Estate Taxes due up until date of closing. (to be prorated) Homeowner’s Association Dues (HOA), if any (to be prorated) Special Assessment, if any (to be prorated) Owner’s Title Insurance Policy Buyer (b) Selection of Title Escrow Agent __ Seller __ Buyer will select the title agent and will pay for the owner’s title policy, search, examination and related charges. (c) Prorations: The following items will be made current (if applicable) and prorated as of the day before the Closing Date; real estate taxes, interest, bonds, assessments, and association fees. Page 1 of 3 (d) Special Assessments by Public Body: Regarding special assessments imposed by a public body , Seller will pay (i) the full Amount of liens that are certified, confirmed and ratified before closing and (ii) the amount of the last estimate of the assessment if an improvement is substantially completed. 7. TITLE INSURANCE: The title insure shall be issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer, an owner’s policy of title insurance in the amount of the purchase price, insuring Buyer’s marketable title to the Real Property. 8. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property subject for its intended use as residentially zoned land. 9. LIENS: Seller shall furnish at closing an affidavit attesting to the absence of any liens, or potential liens against the property as a result of non-payment of services performed by workmen or contractors for any improvements added to the property. 10. EFFECTIVE DATE; TIME: The “Effective Date” of this contract is the date on which the last of the parties initials or signs the contract. 11. COMPLETE AGREEMENT: This contract is the entire agreement between Buyer and Seller. Modifications of this contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound. Handwritten or typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract is or becomes invalid or Unenforceable, all remaining provisions will continue to be fully effective. Seller and Buyer will use diligence and good faith in Performing all obligations under this Agreement. This document will not be recorded in any public records. 12. ASSIGNABILITY: Buyer may not assign this Contract without Seller’s written consent. This Contract is binding on the heirs, administrators, executors, personal representatives and assigns of Buyer and Seller. 13. ESCROW AGENT: Buyer and Seller authorize Escrow Agent to receive, deposit and hold funds and other items in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this contract. Escrow Title Agent to be: LIBERTY TITLE COMPANY OF AMERICA, 231 U.S. Highway 27 North, Sebring, Fl. 33870 Phone: 1(863)471-9393 Fax: 1(863)471-9395 Attn: Debi Turner, Mgr. 14. RESTRICTIONS; EASEMENTS; LIMITATIONS: Seller shall convey marketable title subject to: comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by government authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; outstanding oil, gas and mineral rights of record without right of entry; unplatted public utility easements of record. The property is platted and zoned for residential housing purposes. 15. FAILURE OF PERFORMANCE: If Buyer fails to perform on this Contract within the time specified, then the deposits made by the Buyer may be recovered and retained by and for the account of the Seller as liquidated damages for non-performance of Buyer’s contractual obligations. If for any reason Seller is unable to deliver marketable title, as a result of liens, claims or fees against the property, then any funds paid by Buyer will be returned at which time the contract will be terminated without further recourse by either party. 16. NOTICES: All notices will be made to the parties by mail, personal delivery or electronic media. Buyer’s failure to deliver timely written notice to Seller, when such notice is required by this Contract, regarding any contingencies will render that contingency null and void and the Contract will be construed as if the contingency did not exist. Any notice, document or item given to or received by an Attorney representing a party will be as effective as if given to or by that party. Page 2 of 3 17. ADDITIONAL TERMS: ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ ___________________________________________________________________________________________________ 18. ACCEPTANCE OF PARTIES: By signing below, Seller accepts to Sell and Buyer accepts to Buy under the terms of this contract agreement. Buyer Signature: ___________________________________________ Print Name: ___________________________________________ Address: ___________________________________________ ___________________________________________ Phone: ___________________________________________ Fax: ___________________________________________ Email: ___________________________________________ Buyer Signature: ___________________________________________ Print Name: ___________________________________________ Address: ___________________________________________ ___________________________________________ Phone: ___________________________________________ Fax: ___________________________________________ Email: ___________________________________________ Date:__________________ Date:___________________ Seller Signature: ___________________________________________ Print Name: ___________________________________________ Address: ___________________________________________ ___________________________________________ Phone: ___________________________________________ Fax: ___________________________________________ Email: ___________________________________________ Date:___________________ Print Form Page 3 of 3 Email Form Clear Form