Fillable Printable AGREEMENT TO PURCHASE REAL ESTATE

AGREEMENT TO PURCHASE REAL ESTATE

CONTRACT TO PURCHASE REAL ESTATE

The undersigned, _________________________________________________, and hereinafter

referred to as "SELLERS”, agree to sell and ________________________________________,

and hereinafter referred to as "PURCHASERS" agree to buy certain real estate known as

______________________________________________________. Said real estate shall

include all land and appurtenant rights, also all buildings, fixtures, heating, electrical and

plumbing fixtures and facilities, window shades, venetian blinds, awnings, curtain rods,

screens, storm windows, wall-to-wall carpeting, appliances, landscaping and shrubbery and

attached radio and/or television aerials, as maybe applicable, except _______________________

______________________________________________________________________________

PURCHASERS agree to pay for said property the sum of ____________________________

DOLLARS ($____________), payable as follows:

a. $____________ Earnest money paid by PURCHASERS with the execution

of this contract, the receipt of which is acknowledged by

SELLERS; and

b. $____________ Downpayment at closing; and

c. $____________ Proceeds from a Mortgage to be obtained by PURCHASERS

This CONTRACT TO PURCHASE REAL ESTATE is contingent upon PURCHASERS

obtaining a mortgage commitment from a lending institution in the amount of $___________, or

in a lesser amount acceptable to PURCHASERS. The PURCHASERS agree to make loan

application within five (5) days of the date of this Agreement and to cooperate fully with such

lender’s requests for information and to otherwise use due diligence and good faith in an effort to

obtain financing. If no decision on PURCHASERS’ loan application is forthcoming within 20

days after the date of this Agreement, then PURCHASERS shall obtain an extension of this

contingency from SELLERS or remove said contingency. If SELLERS refuse to grant such

extension and PURCHASERS refuse to remove this contingency or if PURCHASERS’

financing application is denied, then this CONTRACT TO PURCHASE REAL ESTATE is

null and void and of no further force and effect and all Earnest Money, if any, heretofore paid to

SELLERS shall be returned to PURCHASERS.

This CONTRACT TO PURCHASE REAL ESTATE is contingent upon a general home

inspection of the premises, satisfactory to PURCHASERS, the type and extent of which shall be

at PURCHASERS’ discretion and expense. Provided, however, any such inspection shall be

completed within ________ of the date of this Agreement with the results thereof to be

communicated to SELLERS within _____ hours thereafter, or this contingency will be deemed

waived. PURCHASERS shall not unreasonably withhold their approval of said Inspection. In

the event said Inspection should disclose the necessity of repairs of a material nature affecting

the integrity and safety of the structure, and PURCHASERS refuse to waive said defects,

SELLERS shall be obligated to repair same at their own expense, or adjust the purchase price

accordingly, or cancel this Agreement with earnest monies to be returned to PURCHASERS.

Page One of Three

SELLERS shall furnish a general warranty deed with release of dower, as applicable, and/or

fiduciary deed, if required, conveying to PURCHASERS a good and marketable fee simple

title to the property, free and clear of all liens and encumbrances whatsoever except

restrictions, reservations, conditions, covenants, and easements of record; such encroachments

as do not materially adversely affect the use or value of the premises; zoning ordinances, if any;

and current taxes and assessments, both general and special, which are a lien, but not yet

due and payable, and thereafter. In the event a title defect appears thereby preventing

SELLERS from conveying the marketable title described herein, PURCHASERS shall have

the option of affording SELLERS thirty (30) days to cure said defect, or may declare this

CONTRACT TO PURCHASE REAL ESTATE null and void and thereby be entitled to the

return of all monies heretofore tendered.

SELLERS shall furnish to PURCHASERS an Owner’s Fee Policy of Title Insurance in the

amount of the purchase price. All title work to be ordered through Revere Title Agency.

Taxes and assessments shall be prorated as of the date of recording the deed for record based

upon the latest available tax duplicate. SELLERS shall pay directly all utility charges due up to

the date the deed is filed for record. The escrow agent herein is authorized to withhold

$__________ from SELLERS pending final water and sewer charges. Upon proof of payment,

the escrow agent shall release said funds to SELLERS; otherwise, escrow agent is to pay the

final bill and remit balance of monies so held, if any, to SELLERS.

All funds and documents necessary for closing shall be deposited with Revere Title Agency,

Escrow Agent herein, at ______________________________, on or before ____________; and

the deed shall be recorded on or about _____________ with possession to be delivered by

SELLERS to PURCHASERS no later than ______ days after the deed is filed for record.

SELLERS shall pay the following costs through escrow:

• Title Examination

• One-half (1/2) the escrow fee

• One-half (1/2) the premium for the Owners’ Fee Policy of Title Insurance

• Any amounts due by reason of tax proration

• Cost of recording mortgage satisfactions, as applicable

• Conveyance Fee

• Cost of preparing the deed

PURCHASERS shall pay the following costs through escrow:

• Title Commitment

• One-half (1/2) the escrow fee

• One-half (1/2) the premium for the Owners’ Fee Policy of Title Insurance

• Any additional premiums required by lender by reason of an ALTA Loan Policy

• Any costs incident to financing

• Cost of recording the deed

• Cost of recording the mortgage

• Cost of Mortgage Location Survey, if required by lender

• Special Tax Search

If any building or other improvements are damaged or destroyed prior to the filing of the deed

for record, PURCHASERS shall have the option of completing this CONTRACT TO

PURCHASE REAL ESTATE and to receive the proceeds of insurance payable in connection

therewith, together with cash from SELLERS in the amount of any deductible, or to

terminate this CONTRACT TO PURCHASE REAL ESTATE and to recover all funds

heretofore paid, if any.

Title is to be taken in the name of ____________________________________________,

Husband and Wife, in survivorship.

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SELLERS and PURCHASERS represent this transaction is being entered into without the

assistance of any real estate agent and, thereby, no commission is due by reason of this

transaction and will indemnify and hold each other harmless in the event of any claim for

commission asserted by a Realtor or Broker.

PURCHASERS acknowledge receipt of completed ”State of Ohio Residential Property

Disclosure Form” and “Federal Lead Paint Disclosure Form”, copies of which are attached

hereto and made a part hereof.

Executed in Duplicate By:

SELLERS: PURCHASERS:

____________________________________ _____________________________________

Date Date

_____________________________________ _____________________________________

Date Date

ADDRESS: ADDRESS:

_____________________________________ _____________________________________

PHONE: PHONE:

____________________________________ ______________________________________

Page Three of Three

BUYER AND SELLER INFORMATION

Please fill out and return with the signed purchase agreement.

PLEASE PRINT.

SELLER(S) FULL NAME: ___________________________________

___________________________________

SELLER(S) CURRENT

MAILING ADDRESS: ____________________________________

____________________________________

City State Zip

SELLER(S) TELEPHONE: ____________________________________

Home

____________________________________

Work/Cell

PURCHASER(S) FULL NAME: ____________________________________

____________________________________

PURCHASER(S) CURRENT

MAILING ADDRESS: ____________________________________

___________________________________

City State Zip

PURCHASER(S) TELEPHONE: ____________________________________

Home

____________________________________

Work/Cell

PURCHASER(S) BANK/MORTGAGE COMPANY INFORMATION:

____________________________________________________________

Name

____________________________________________________________

Contact Person/Phone