CONTRACT OF SALE For Mobile Home (Without Land)

CONTRACT OF SALE FOR MOBILE HOME (WITHOUT LAND) THIS CONTRACT made effective as of the _____ day of ______________, _______, between: SELLER: SELLER’S ADDRESS: BUYER: BUYER’S ADDRESS: [name of seller] (the “Seller”) [address of seller] [name of buyer] (the “Buyer”) [address of buyer] In consideration of the mutual covenants and agreements contained in this Contract and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties, the parties hereby agree as follows: 1. The Seller agrees to sell and the Buyer agrees to buy, on the terms and conditions set out in this Contract, the mobile home hereinafter described (the “Mobile Home”): Make: Serial Number: Length: Model (if applicable): Year: Width: Location: (street address, lot number, name of Mobile Home Park, if applicable) together with all of the following chattels, fixtures and appurtenances which are the property of the Seller and are currently in, on or around the Mobile Home: all heating, plumbing, bathroom and kitchen fixtures, water heaters, water softeners, humidifiers, dehumidifiers, garbage disposals and air conditioning units (except for window units); light fixtures, including light bulbs; window coverings, curtain rods, traverse rods, brackets and hardware; skirting, linoleum, carpet and other permanent floor coverings; storm doors, storm windows, window screens, screen doors, awnings, window boxes, exterior TV antennae, rotor motors and controls; fireplace screens and equipment; built-in dishwashers, ovens, exhaust fans and hoods, and trash compactors; built-in cabinets and shelving, and mirrors which are attached to the wall. The Seller will be responsible for maintaining all heating, plumbing and lighting fixtures, all appliances and other electrical devices in the same condition as the same were in as of the date of this Contract, reasonable wear and tear only excepted. The parties agree that the above-described lot is not the property of the Seller and is not included as part of this Contract. 2. The following items are specifically included in this sale transaction: (a) 3. [list] The following items are specifically excluded from this sale transaction: (a) [list] 4. The purchase price is ____________________ DOLLARS ($___________), subject to any -2adjustments, payable by way of cash, certified funds or cashier’s check as follows: Initial deposit, payable upon signing by Buyer Second deposit, payable upon signing by Seller (within 48 hours) Balance on delivery of title deed and Closing TOTAL: $. $. $. $. 5. [use the applicable paragraph] This Contract is subject to the Buyer obtaining a mobile home retail installment loan in the amount of $[loan amount] at an interest rate of [interest rate]%, not to exceed __________%. The Buyer agrees to immediately apply for the loan and in good faith diligently process the loan. If the Buyer is unable to secure the loan on or before ____________________, either party may cancel this Contract by written notice to the other party, and the entire amount of the deposits and other amounts paid by the Buyer shall be returned to the Buyer without deduction or set-off. The same procedure shall apply if the loan commitment is granted but later cancelled through no fault of the Buyer. OR This sale transaction is a cash transaction. OR This Contract is subject to the Buyer providing the Seller with a purchase money note and security interest which is a (UCC) ______________________________ lien in the amount of $[balance outstanding] payable as follows: $[monthly payment amount] monthly including principal and interest (interest rate of ________%), monthly payment is amortized over [amortization period] years, but the entire unpaid balance is due at the end of ________ years, with no penalty for prepayment. At the Closing, the Seller shall be credited for any remaining fuel oil and/or propane and any prepaid monthly rental for the lot, and the purchase price shall be adjusted to reflect the amount(s) of such credit(s). The Seller represents and warrants to the Buyer that the Mobile Home, together with the chattels, fixtures and appurtenances described in paragraph 1 hereof, are free from any and all claims of creditors and are not encumbered by any security interest, or, if any security interest does exist, that the security interest will be discharged prior to Closing. Prior to the Closing the Seller, at the Seller’s sole expense, will furnish the Buyer with a judgment search and UCC searches from the [state] Secretary of State and from the County Clerk of the county where the Mobile Home is located and also the County Clerk of the county where the Seller resides, (if different from the county of the Mobile Home location), all in the State of [state], evidencing that there are no liens or security interests encumbering the property being sold herein. The aforesaid searches must be furnished to the Buyer or the Buyer’s attorney in writing at least five (5) business days prior to Closing. The Mobile Home and other property covered by this Contract are being sold “as is” and there are no warranties, express or implied, including any warranty of merchantability or fitness for purpose except as is otherwise provided for herein. Upon the Closing of this transaction, the Seller will furnish the Buyer with a Certificate of Title if available to the Mobile Home or other satisfactory evidence of title together with a [State] Warranty Bill of Sale with affidavit, transferring title to the Mobile Home and other property, free and clear from all liens and encumbrances except as is otherwise provided herein. In the event that the Mobile Home is presently located in a Mobile Home Park, Closing is contingent upon the written approval of the Buyer by the owner of the Mobile Home Park, consenting to the Buyer as a tenant of the Mobile Home Park at a monthly lot rental of $[monthly 6. 7. 8. -3rental amount], such written approval to be obtained within ______ days following the execution of this Contract by the parties. The Seller represents that the current monthly rent is $[monthly rental amount] and that it [choose one: is/is not] subject to a written lease[, if applicable - a copy of which is annexed hereto]. 9. Prior to the Closing, the Buyer shall have the right to inspect the Mobile Home upon reasonable prior notice to the Seller. All utilities must be connected and in working order at the time of [if applicable - the loan appraisal and] the final inspection. The Seller shall deliver over vacant possession of the Mobile Home to the Buyer on or before the time of the delivery of the title documents and Closing which shall take place at [date and time of Closing], or such later date and time as both parties mutually agree to. As at the date of signing, the Buyer [choose one - is / is not] in actual possession of sufficient funds to close this transaction. Risk of loss or destruction from any cause shall be borne by the Seller until Closing. In the event of any such loss or destruction, the Buyer shall have the option of proceeding with the Closing, subject to such adjustment to the purchase price as the parties may agree upon, or the Buyer may at its option declare this Contract null and void, in which event the entire amount of the deposit(s) paid by the Buyer shall be returned to the Buyer forthwith upon such rescission. If either party should fail to fulfill its obligations hereunder, or if any of the terms, conditions or contingencies in this Contract are not fulfilled, this Contract shall be deemed null and void and any deposit(s) and other amounts paid by the Buyer shall be promptly refunded to the Buyer in full and neither party shall have any claim against the other. The Seller shall be responsible for paying the entire amount of any realtor’s or broker’s fees or commissions with respect to this sale transaction. This Contract of Sale, and any schedules attached hereto constitute the entire agreement between the parties pertaining to this transaction, and there are no warranties, representations or other agreements between the parties in connection with this transaction except as specifically set forth in this Contract of Sale. This Contract shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, administrators, executors, successors and assigns. If all of the parties hereto have not executed this Contract on or before the _____ day of ______________, _______, this Contract shall not become effective. BUYER: 10. 11. 12. 13. 14. 15. 16. SELLER: SIGNATURE OF SELLER SIGNATURE OF BUYER SOCIAL INSURANCE NUMBER SOCIAL INSURANCE NUMBER DATE DATE Consented to this _____ day of ______________, _______, as evidenced by [my signature/our -4signatures/the signature of a duly authorized signing officer of the company] below. [NAME OF MOBILE HOME PARK OWNER] By: [name of person signing, office if applicable] Address: Phone No.: City, State, Zip: Deposits Paid by Buyer Prior to Closing Date Received Amount of Deposit