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Property Sale Agreement

Used 4,901 times

Using a Property Sale Agreement Template is important to guarantee smooth and prosperous real estate marketing. It is a crucial lawful document that summarizes all of the vital elements of the sale.

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Property Sale Agreement Template

Image 1

Prepared for:

[Seller.FirstName]

[Seller.LastName]

Prepared by:

[Buyer.FirstName][Buyer.LastName]

This Property Sale Agreement (the "Agreement") is made and entered into by and between [Seller.FirstName][Seller.LastName] (the "Seller") and [Buyer.FirstName][Buyer.LastName] (the "Buyer"), referred to herein collectively as the "Parties."

1. Property

The Seller agrees to sell, and the Buyer agrees to purchase, the Property described in this Agreement as follows (the "Property" ):

Address: (state the address)

Legal Description: (insert legal description)

Other Identifying Information: (insert information)

2. Purchase

2.1 The total purchase price for the Property is (state the price).

2.2 The Buyer agrees to pay the Seller using (state the payment method) by (state the date and time).

2.3 The Buyer shall also be responsible for any transfer taxes or recording fees associated with the transaction.

3. Closing Date

3.1 The closing of this transaction shall take place no later than (state the date).

3.2 If either Party does not meet the closing date, the other Party may terminate this Agreement with written notice.

4. Title Insurance

4.1 The Seller agrees to provide a current title insurance policy and legal description for the Property at the time of closing.

4.2 The Seller shall also provide to the Buyer any other documentation requested by the title company, including proof of ownership and any documents necessary for the transfer of title.

5. Possession of Property

5.1 The Buyer will receive possession of the property (state the timeframe) after closing.

5.2 The Seller agrees to remove all personal property from the premises (state the timeframe) after closing.

6. Financing

6.1 The Buyer may finance the property purchase through (state the financing method), if applicable.

6.2 The Buyer will be solely responsible for obtaining financing and shall provide proof of such funding to the Seller no later than (state the period).

6.3 Any costs associated with obtaining financing shall be borne by the Buyer alone.

7. Miscellaneous

7.1 Warranties and Representations

7.1.1 The Seller warrants and represents that they have good and marketable title to the Property, free from any liens or encumbrances other than those disclosed in writing to the Buyer before the execution of this Agreement.

7.1.2 The Seller further warrants and represents that they are the legal owner of the Property and are fully authorized to enter into this Agreement.

7.1.3 The Buyer warrants and represents that they will, at their own expense, take any necessary steps to inspect and investigate the property to ensure its condition is satisfactory before closing.

7.2 Liability

7.2.1 The Seller shall be held liable for any damages or injuries related to the property before closing.

7.2.2 The Buyer is responsible for scheduling and performing an inspection of the property before closing and assumes all risks associated with the state of the property after closing.

7.2.3 The Seller will not be liable for any damages, injuries, or losses suffered after closing.

7.3 Severability

7.3.1 If any part of this Agreement is declared unenforceable or invalid, all remaining clauses will remain in full force and effect.

7.3.2 The Parties further agree that if any part of this Agreement is deemed unenforceable or invalid, they shall negotiate in good faith to replace the offending clause with an enforceable and valid clause.

7.4 Damages

In the event of breach or default of this Agreement, the non-breaching Party will be entitled to all damages, including consequential and incidental damages, arising from such a failure.

7.5 Dispute Resolution

7.5.1 Any dispute arising out of or related to this Agreement shall be resolved through binding arbitration conducted by a mutually agreed upon arbitrator.

7.5.2 The Parties agree to participate in good faith negotiations, which shall attempt to resolve any dispute without arbitration.

7.5.3 If the dispute cannot be resolved between the Parties, either Party may pursue legal action or request that an agreement to mediate be reached.

7.5.4 Any decision or award rendered by the arbitrator shall be legally binding and enforceable.

7.6 Confidentiality

7.6.1 This Agreement and any information related to this Agreement shall be kept confidential by the Parties.

7.6.2 No Party shall make any public statement about this Agreement without the prior written consent of the other Party.

7.7 Jurisdiction

7.7.1 This Agreement shall be governed and construed by (state what the Agreement shall be construed and governed by).

7.7.2 Each Party agrees that it shall not challenge or contest the validity or enforceability of this Agreement in any jurisdiction other than (state what the Agreement shall be construed and governed by).

7.8 Modifications

7.8.1 Any modifications to this Agreement must be in writing and signed by both Parties.

7.8.2 The Parties agree that any verbal or email communication regarding modifications to this Agreement shall not be binding or enforceable.

The Parties acknowledge that they have read and understood this Agreement, agreeing to its terms as of (state the date):

Signature
MM / DD / YYYY

[Seller.FirstName][Seller.LastName]

Signature
MM / DD / YYYY

[Buyer.FirstName][Buyer.LastName]

Property Sale Agreement

Used 4,901 times

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