AGREEMENT TO SELL LAND
An Agreement to Sell Land is an agreement between the seller of a parcel or plot of land and a purchaser, outlining the terms and conditions for the transfer of the land. This attorney-drafted document was created for a seller, and includes customizable options for the description of the land, the price, the terms of payment, the title and escrow companies, and many other features. Best used for the sale of unimproved real property.
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AGREEMENT TO SELL LAND
Between: Buyer By_________________________ Title:_____________________ & Seller By:_________________________ Title:_____________________ ************************************************************************ ** The undersigned Holder acknowledges receipt of $________ as Earnest Money hereunder, and agrees to be bound by the provisions of this Contract____________________________ Holder ************************************************************************ ** W I T N E S S E T H: THE PARTIES hereto, intending to be legally bound, hereby agree as follows: 1. Property Details Seller hereby agrees to sell the parcel of land (“Premises”), more particularly described in the Schedule A, to Buyer and Buyer will purchase from Seller, as provided in this Contract. 2. Purchase Price, Financing, and Earnest Money 2.1 Purchase Price. Buyer will at Closing pay the Seller a purchase price of $____________________________in the following manner: a. The Earnest Money of $ _______ will be paid at the time of execution of this Contract and $ by , 20___ b. The balance of the Purchase Price will be paid (subject to pro-ratings and closing adjustments): i. $ by cash ii. $ by acceptance of title subject to the following Continuing Mortgages
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[Any other if applicable] 2.2 Earnest Money. The Earnest Money of $________, will be paid in the manner described above, and will be held (subject to section 12. 2) by the ______________ ("Holder") for the benefit of Buyer and Seller. a. Holder will hold any cash as specified until Closing or earlier termination of the Contract and will pay over or apply the cash and deliver any other deposits in accordance with the Contract. b. Use of deposited funds. i. If Closing occurs as scheduled, any cash that is so held will be paid by Holder to Seller, and any earnings thereon will be paid to Buyer. Any deposit other than cash will be treated as cash unless otherwise specified. ii. If Closing does not occur as scheduled: A. On the receipt of a notice from a party Holder shall notify the other party of such a notice to deliver the Earnest Money. If Holder does not receive a written objection from the other party to the proposed delivery within ___ business days after Holder gave such notice, Holder is authorized to deliver the deposit. If Holder receives an objection within the notice period or if for any other reason Holder in good faith elects not to deliver the deposit, Holder will continue to hold the deposit until otherwise directed by instructions from the parties or a final judgment of a court. B. Any earnings on the Earnest Money will be paid to the party entitled to the Earnest Money, and the party receiving the earnings will pay any income tax the