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
hereby agrees to sell to
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) ,
and is located in the City/County of
property has approximate lot dimensions of x , and is
legally described as follows:
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
(a) Initial deposit
(b) Sum due at closing after acceptance of this
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
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
(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)
(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
(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
(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
(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
(q) Closing to take
place at and earnest deposit check held at Resolutions Title. 15455 Conway Road, Suite 310 Chesterfield,
(r) If applicable,
initial deposit due within business day(s) of inspection period
(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
(v) Seller must accept
and send signed Agreement to buyer (via ) within 1 day
(24hrs) of Buyers Date of Offer. Otherwise, offer is cancelled.
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:
Seller(s): Seller's Date of Acceptance:
Seller(s): Seller's Date of Acceptance: