2182716 Real Estate Investing Purchase Agreement

Real Estate Purchase Contract Parties__________________________________________________(BUYER) and __________________________________________(SELLER) will include the heirs successors, personal representatives and assigns of Seller and Buyer, hereby agree that Seller will sell and Buyer will buy the following property located in the county of _______________________________, and is described as follows: Address__________________________________________________City_______________________ State______________ Zip _____________ 1. PRICE AND TERMS: The purchase price is _________________________________________________________________ Dollars ($_______________________) Payable as follows: ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ 2. CONTINGENCIES: Property Inspection: Buyer at buyers expense shall have ________ days after the acceptance hereof to have the property and all improvements, fixtures and equipment inspected. Seller shall cooperate in making the property reasonably available for such inspections(s). Buyer agrees to indemnify and hold Seller harmless from any injury or damage caused by such inspection(s). If Buyer is not satisfied with the condition of the property as disclosed by such inspection(s) Buyer may terminate this contract by giving written or oral notice to Seller. Other Contingencies: ________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ 3. CLOSING COSTS: Buyer shall pay all Buyers incurred closing costs, and Seller shall pay all Seller incurred closing costs unless otherwise specified below. Buyer Will Pay: [ ] Recording fees [ ] Note stamps [ ] Intangible tax [ ] Transfer Tax [ ] Appraisal [ ] Survey [ ] Title Insurance Policy Other____________________________________________ Seller Will Pay: [ ] Transfer tax [ ] Title insurance policy [ ] Satisfaction and recording fee [ ] Appraisal fee [ ] Survey Other____________________________________________________________________________ 4. RENTALS, INSURANCE, TAXES, UTILITIES AND SECURITY DEPOSITS: Adjustments shall be made through date of closing for: (a) rentals; (b) Transferable insurance policies, if Buyer so elects, transferable insurance policies. Sell shall pay, through date of possession, all accrued utility charges and any other charges that are or may become a lien. Security deposits shall be transferred to Buyer, if any. 5. PAYMENT OF EXPENSES: If Buyer fails to perform, all loan and sale processing and closing costs incurred, whether the same were to be paid by Seller or Buyer will be the responsibility of the Buyer, with costs deducted from earnest money deposit. If Seller fails to perform, all loan, sales processing and closing costs incurred whether same were to be paid by Seller or Buyer will be the responsibility of Seller, and Buyer will be entitled to the return of the Binder deposit This will include, but not be limited to the transaction not being closed because Seller is unable to complete the transaction for a qualified Buyer, or because the property does not appraise for an amount sufficient to enable the lender to make the required loan, or because Seller elects not to pay for the excess amount or because Seller cannot deliver marketable title. 6. PRORATIONS: All taxes, rentals, condominium or association fees, prepaid hazard insurance premiums (if assumed), monthly mortgage insurance premiums and interest on loans will be prorated as of the date of closing. At closing, Seller shall pay or credit on purchase price all deliquent taxes, including penalty and interest, all assessments that are a lien on the date of contract prior to closing. At closing, Seller shall also pay or credit on purchase price all other unpaid real estate taxes that are a lien for years prior to closing and prorated on a 365 day schedule. 7. TITLE EXAMINATION AND TIME FOR CLOSING: Seller shall furnish and pay for an owner's title insurance commitment and policy in the amount of the purchase price and shall show in Seller marketable title in fee simple free and clear of all liens and encumbrances except: (a) those created by or assumed by Buyer; (b) those specifically set forth in this contract; (c) zoning ordinances; (d) legal highway and (e) covenants, restrictions, conditions and easements of record that do not unreasonably interfere with present lawful use or Buyers intended use which is ____________________________________. Buyer shall pay the cost thereof. If title to all or part of real estate is unmarketable, as determined by the State Laws which in the state which this contract is being enter into. If Seller is unable to remedy liens, encumbrances, easements, conditions, restrictions or encroachments, within a reasonable time buyer call declare this contact null and void. 8. LOSS OR DAMAGE OF PROPERTY: Risk of loss to the real estate and improvements shall be responsibility of Seller until closing, provided that if any property covered by this contract shall be substantially damaged or destroyed before this transaction is closed. Page 1 of 2

9. FIXTURES AND EQUIPMENT: The consideration shall include fixtures owned by Seller including, but not limited to: built-in appliances, heating, ventilating, air conditioning (HVAC) and humidifying equipment and their control apparatus, attached floor coverings and any attached wall coverings, window coverings, and awnings, internal wire for communication system; telecommunication wiring and cables, all appliances such as refrigerator, range,washer/dryer, garage door openers and controls, whether now in or on the premises or in storage, security systems and controls, smoke alarms, all exterior landscaping and the follow: (None if left) ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ 10. EARNEST MONEY DEPOSIT: Buyer will deposit with the seller an earnest money deposit. The earnest money deposit shall be applied to the purchase price or returned to the buyer at closing. If seller fails to perform, or any contingency is not satisfied or waived, the deposit shall be returned. If buyer fails or refuses to perform the Deposit shall be paid to Seller. 11. CLOSING: This contract shall be performed and this transaction closed on or before _________________________________ , 20_________ unless the parties agree in writing to an extension. Buyer entitled to possession at closing unless otherwise specified. At the time Seller delivers possession, the property will be in the same condition as the date of acceptance of this contract, except as provided in the Damage or Destruction of Property, normal wear and tear excepted; personal property not included in this contract. Seller does hereby certify and represent that Seller has legal authority and capacity to convey the property with all improvements. Seller shall convey e by deed in fee simple by transferable and recordable and general warranty deed , with release of any dower, if any. 12. MISCELLANEOUS: This contract constitutes the entire agreement and no oral or implied agreement exists. Any amendments to this contract shall be in writing. This contract shall be binding upon the parties, their heirs, administrators, executors, successors and assigns. TIME IS OF THE ON ALL PROVISIONS OF THIS CONTRACT. 13. ADDITIONAL TERMS OR CONDITIONS: ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________ ______________________________________________________________________________________________________________________

14. DURATION OF OFFER AND ACCEPTANCE: this offer shall remain open for acceptance through, Eastern Time ____________________ Month ________________ Day _________________ Year _________________ Buyer hereby makes the foregoing offer Eastern Time _____________ Month _________________ Day ________________ Year ___________

__________________________________________ Buyer

_________________________________________________ Buyer

_____________ Date of Offer

Mailing Address:______________________________________________________________________________________________________________ Phone: ________________________________ Fax: ____________________________ Email:_______________________________________________ Deed to:_______________________________________________________________________________________________________________

__________________________________________ Seller

_________________________________________________ Seller

_______________ Date of Acceptance

Mailing Address:______________________________________________________________________________________________________________ Phone: ________________________________ Fax: ____________________________ Email:_______________________________________________

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