Contract For Sale and Purchase of Property
PARTIES: ____________________(1)_____________________________, as "Seller",
of ________(2)____________, Phone: _____(3)________, and
______________(4)___________________ as "Buyer" of
_______________(5)_______________, Phone: _______(6)__________, hereby agree
that the Seller shall sell and Buyer shall buy the following property upon the following
terms and conditions:
I. DESCRIPTION:
a) Legal description of real estate ("Property") located in _______(7)________ County,
_______(8)_________:
b) Street address, if any, of the Property being conveyed is:
c) Personal property including all buildings and improvements on the property and all
right, title and interest of Seller in and to adjacent streets, roads, alleys and rights-of-way,
and:
II. PURCHASE PRICE $_______(9)______
PAYMENT:
a) Cash Deposit(s) to be held in escrow by _____________(10)________________ in the
amount of $______(11)______ and promissory note to be held in same escrow as
additional earnest Buyer's default in the amount of $______(12)______
b) Assumption of Mortgage in favor of _____________(13)_________________ bearing
interest at ___(14)____% per annum and payable as to principal and interest
$_____(15)______ per month, having an approximate present principal balance of
$______(16)______
c) Purchase money mortgage and note bearing interest at ___(17)___% on terms set
forth herein below, in the principal amount of $______(18)______
d) Other: $______(19)______
e) Balance to close, (U.S. Cash, certified or cashier's check) subject to adjustments and
prorations $______(20)______
TOTAL $_______(9)______
III. SURVEY & TITLE COMMITMENT; PERMITTED EXCEPTIONS.
a) Preliminary Title Report. Within twenty (20) days from the date hereof, Seller, at
Purchaser's sole cost and expense, shall cause a title insurance company ("Title
Company") to issue and deliver to Purchaser an ALTA Form B title commitment ("Title
Commitment") in the full amount of the Purchase Price of the real estate. Purchaser shall
pay the premium