REAL ESTATE PURCHASE CONTRACT

WHEN COMPLETED AND SIGNED BY BOTH PARTIES, THIS IS A LEGALLY BINDING CONTRACT. IF THIS CONTRACT IS NOT FULLY UNDERSTOOD, THE SERVICES OF A COMPETENT PROFESSIONAL SHOULD BE SOUGHT

Seller   , hereby agrees to sell to

Buyer   , or Buyer’s nominee and/or assigns, the real property set forth below and all improvements thereon (herein referred to as the Property), and Buyer agrees to purchase said Property from the Seller on the terms and conditions set forth in this contract.

DESCRIPTION: The Property is commonly known as (street address)   ,

(City/state/zip)    and is located in the City/County of   

The property has approximate lot dimensions of    x    , and is legally described as follows:

(If the legal description is not included at the time of execution, it may be attached to and incorporated herein afterward.)

1. PURCHASE PRICE: The total purchase price to be paid for the Property by the Buyer is payable as follows:

(a)   Initial deposit    $   

(b) Sum due at closing after acceptance of this Contract    $   

TOTAL PURCHASE PRICE   $   

2. CONDITION OF THE PROPERTY:  Seller agrees to deliver the Property to Buyer in its present condition, ordinary wear and tear excepted, and further certifies and represents that Seller knows of no latent defect in the Property.

3. DEFAULT BY BUYER: If Buyer fails to perform the agreements of this contract within the time set forth herein, Seller may retain, as liquidated damages and not as a penalty, all of the initial deposit specified in paragraph 1(a) above, it being agreed that this is Seller’s exclusive remedy.

4. DEFAULT BY SELLER: If Seller fails to perform any of the agreements of this contract, all deposits made by Buyer shall be returned to Buyer on demand, or the Buyer may bring suit against Seller for damages resulting from the breach of contract, or the Buyer may bring an action for specific performance. Buyer’s remedies are cumulative and not exclusive of one another, and all other remedies shall be available in either law or equity to Buyer for Seller’s breach hereof.

5. R.E.S.P.A. COMPLIANCE: Seller and Buyer agree to make all disclosures and do all things necessary to comply with the provisions of the Real Estate Settlement Procedures Act of 1974 if it is applicable to this transaction.

6. ADDITIONAL TERMS AND CONDITIONS:

    (a)  Where the context requires, the terms that Seller and Buyer shall include are in the masculine as well as the feminine and the singular as well as the plural.

    (b)  There are no agreements, promises, or understandings between the parties except as specifically set forth in this contract.
          No alterations or changes shall be made to this contract unless the same are in writing and signed or initialed and dated by the parties hereto.

    (c)  The provisions of this contract shall survive the closing and shall not merge in any deed of conveyance herein.

    (d)  This agreement shall be construed under the laws of the State of Missouri.

    (e)  Subject to 21 business day inspection beginning first day upon Buyer receiving signed Agreement from all (parties) Seller(s) involved.

    (f)  Closing to take place on or before date   . Or within   business days after seller(s) acceptance and/or beginning first day upon Buyer receiving signed Agreement from all Seller(s) involved. Whichever is     latest date.

    (g)  Agreement is valid for 90 days from date of acceptance by both seller and buyer in the case title issues need to be rectified.

    (h)  Seller to pay their closing costs and any liens against their property, unless otherwise stated in SPECIAL AGREEMENTS.

    (i)  Buyer(s) and seller(s) may communicate via one or any of the following in person and/or phone and/or voicemail and/or text and/or email and/or fax.

    (j)  Buyer has right to market property as “Owner by Contract” via MLS, internet, signs, etc.

    (k)  Buyer has right to final walk through inspection within 24 hours of closing time of closing date.

    (l)  Subject to Closing, acquisition and possession.

    (m)  Property is to be sold as-is, as seen on   . Seller to do no repairs.

    (n)  It is buyers intent to profit from this transaction. It is sellers intent to profit from this transaction.

    (o)  Buyer may use funds from “B” to “C” buyer for double closing.

    (p)  Seller allows title company/attorney/closing company to share HUD statement with Assignor, if applies.

    (q)  Closing to take place at and earnest deposit check held at Resolutions Title.  15455 Conway Road, Suite 310  Chesterfield, Missouri  63017

    (r)  If applicable, initial deposit due within    business day(s) of inspection period ending.

    (s)  Seller agrees to allow buyer and/or buyers partner/contractors/insurance persons key to property to access via lockbox or padlock or by appointment before closing.

    (t)  Seller is not aware of any arrests, drug activity or illegal activity pertaining to the property (seller(s) initial   .

    (u)  If seller is aware of concerns above (Line “N”). Please explain  .

    (v)  Seller must accept and send signed Agreement to buyer (via   ) within 1 day (24hrs) of Buyers Date of Offer. Otherwise, offer is cancelled.

SPECIAL AGREEMENTS:

TIME IS OF THE ESSENCE OF THIS AGREEMENT.

In witness whereof, the parties signed their names on the dates in the year set forth below.

Buyer(s):    Buyer's Date of Offer:   

     Address:      

Phone/text: 314-783-7580      Address:      

Seller(s):     Seller's Date of Acceptance:      

     Address:      

     Address: