Real Estate Purchase Agreement THIS REAL ESTATE PURCHASE AGREEMENT (“Agreement”) is dated this _____day of ____________, 20___, by and between _______________________and/or assigns (“Buyer”), and, ________________________(“Seller”), real estate known as, ___________________City of __________________, State of _______________and being more particularly described as:
Seller hereby agrees to sell and convey to Buyer and Buyer hereby agrees to purchase agrees to purchase from the seller, subject to the terms and conditions hereinafter set forth:
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Purchase Price Deposit herewith paid to escrow: Balance at Closing: Total Purchase Price:
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Financing This offer is subject to Buyer obtaining a real estate mortgage for no less than ___________ payable over ______years with interest not to exceed ____% at customary terms with a firm commitment thereto ______days from date hereof. Brokerage Seller shall pay real estate brokerage or agent, a commission of $_____or_____% of the purchase price. Inspections Seller shall deliver a satisfactory termite/pest report within ____days from acceptance date. Code Compliance Seller warrants to the best of the knowledge of Seller, the electrical, plumbing, air conditioning and ventilation are in compliance with the City/County Building and Fire Code requirements. Closing a. Closing of property shall be on or before ________, giving reasonable time for preparation and approval of documents and correction of defects reported as a result of a title examination. Closing will be held at purchaser’s escrow or title company, unless such other time and place agreed upon. b. The premises shall be in substantially the same condition at Settlement as on date Seller executes this Agreement. c. Seller and Buyer to pay customary closing costs. Title Said property shall be sold free from all liens, security interests and other encumbrances. Title shall be good, marketable and insurable, without exception. Other Terms Subject to buyer’s walkthrough and approval of walkthrough within 17 business days of acceptance. Any disapproval will be provided in writing. Seller shall give buyer and Buyer’s representatives full access to the property upon acceptance of this Agreement.
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Signed this _____day of ___________.
Buyer
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Buyer
Date
Seller
Date
Seller
Date
STATE OF CALIFORNIA CITY/COUNTY OF ____________, to wit: The foregoing Agreement was acknowledged before me this ____day of __________, 20___, ______________________________ My commission expires: ___________________ Notary Public, State of California
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