Example of a Property Sale Agreement

When it comes to buying or selling a property, having a written agreement in place is essential. A property sale agreement outlines the terms and conditions of the sale, providing protection and clarity for both parties involved.

If you`re in the process of buying or selling a property and need guidance or inspiration on what a property sale agreement should look like, you`re in luck! In this article, we`ll provide you with an example of a property sale agreement:

PROPERTY SALE AGREEMENT

This agreement (“Agreement”) is made on [Date] by and between [Seller Name] (“Seller”) and [Buyer Name] (“Buyer”).

Property Description: The Seller hereby agrees to sell to the Buyer and the Buyer hereby agrees to purchase from the Seller, the following property situated in [City], [State]: [Property Description].

Purchase Price: The purchase price for the property shall be [Purchase Price].

Property Condition: The property is sold in its present condition, without any warranties or representations, express or implied, from the Seller. The Buyer acknowledges that he/she has inspected the property and accepts it in its current condition.

Closing Date: The closing date for the sale shall be on or before [Closing Date]. The closing shall take place at a location and time agreed upon by the parties.

Payment Terms: The Buyer shall make a deposit of [Deposit Amount] at the time of signing this agreement, with the remaining balance due at the closing.

Title and Possession: The Seller represents and warrants that he/she is the legal owner of the property, with full authority to sell it. The Seller agrees to convey to the Buyer a marketable title, free from all liens and encumbrances. Possession of the property shall be transferred to the Buyer at the closing.

Taxes and Utilities: All taxes and utilities related to the property shall be prorated, with the Buyer responsible for any taxes or utilities due after the closing date.

Default: In the event that either party defaults on this Agreement, the non-defaulting party may terminate this Agreement and retain any deposit made by the defaulting party.

Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [State].

Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior negotiations, understandings, and agreements between them, whether oral or written.

Amendments: This Agreement may not be amended or modified except in writing signed by both parties.

In witness whereof, the parties hereto have executed this Agreement as of the date first above written.

Seller`s signature: ________________________________ Date: ___________

Buyer`s signature: _________________________________ Date: ___________

CONCLUSION

There you have it! An example of a property sale agreement that you can use as a reference when creating your own. Remember, it`s essential to have a written agreement in place when buying or selling a property to provide protection and clarity for both parties involved. Make sure to read and understand the terms of the agreement before signing it.

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