Fillable Printable Contract of Sale Template
Fillable Printable Contract of Sale Template
Contract of Sale Template
THIS CONTRACT FORM HAS BEEN APPROVED BY THE ROCKLAND COUNTY BAR
ASSOCIATION AND THE ROCKLAND COUNTY BOARD OF REALTORS.
ATTORNEY APPROVAL: This Contract is contingent upon PURCHASER and SELLER
obtaining approval of this Contract by their respective attorneys as to all
matters contained herein. This contingency shall be deemed waived unless
PURCHASER'S or SELLER'S attorney on behalf of their client notifies the other
party or that party's attorney in writing by facsimile or certified mail of
their disapproval of this Contract, no later than five (5) business days
after this Contract has been signed by both SELLER and PURCHASER. If
PURCHASER'S or SELLER'S attorney provides such notification, then this
Contract shall be deemed cancelled, null and void, and all deposits or Down
payment shall be returned in full to PURCHASER. In the event the premises
herein consist of a condominium unit or is part of a homeowners association
(PUD) the review period provided for herein shall be eight (8) business days.
IT IS
ESSENTIAL THAT YOU CONSULT YOUR ATTORNEY WITHIN THE REVIEW
PERIOD.
Contract of Sale
WARNING: NO REPRESENTATION IS MADE THAT THIS FORM OF CONTRACT FOR THE
SALE AND PURCHASE OF REAL ESTATE COMPLIES WITH SECTION 5-702 OF THE GENERAL
OBLIGATIONS LAW "PLAIN ENGL ISH."
NOTE: FIRE AND CASUALTY LOSSES: This Contract form does not provide for what happens in
the event of fire or casualty loss before the title CLOSING. Unless different provision is made in this
Contract, Section 5-1311 of the General Obligations Law will apply. One part of that law makes a
PURCHASER responsible for fire and casualty loss upon taking of title to or possession of the
PREMISES.
Date: CONTRACT OF SALE made as of the day of , 200
Parties: BETWEEN:
Address:
hereinafter after called "SELLER", who agrees to sell, and
Address:
hereinafter called "PURCHASER", who agrees to buy:
Premises: The property, including all buildings and improvements thereon (the "PREMISES"),
more fully described on a separate page marked "Schedule A" and the personal
property, if any, set forth on "Schedule B" and also known as:
Street Address:
Tax Map Designation: Section , Block , Lot ,
Village of
Purchase 1. (a) The Purchase Price is
$
Price:
(b) Payable as follows:
(c) On the signing of this Contract, by
check subject to collection
$
(d) BALANCE AT CLOSING $
Escrow of
Downpayment: 2.(a) The down payment herein shall be held in escrow by SELLER'S attorney (the
"escrow agent") in an IOLA account at
, until CLOSING, or until this Contract is otherwise rendered null and
void pursuant to its terms; and thereafter shall be disbursed to SELLER or
PURCHASER, as the case may
be. In the event of a dispute as to whom is entitled to such sum, the Escrow Agent may (i)
continue to retain such sum in escrow or; (ii) in the event no litigation is instituted within
twenty (20) days of delivery of a notice of default, transmit same to SELLER; or (iii)
deposit such sum in the Court of pending litigation; and, in any event, the Escrow Agent
shall only be liable for his own gross negligence in the discharge of his duties as Escrow
Agent.
(b) The parties acknowledge that the Escrow Agent is acting solely as a stakeholder at
their request and for their convenience, that the Escrow Agent shall not be deemed to be
the agent of either of the parties, and that the Escrow Agent shall not be liable to either of
the parties for any act or omission on its part unless taken or suffered in bad faith, in
willful disregard of this Contract or involving gross negligence. SELLER and
PURCHASER shall jointly and severally indemnify and hold the Escrow Agent harmless
from and against all costs, claims and expenses, including reasonable attorneys' fees,
incurred in connection with the performance of the Escrow Agent's duties hereunder,
except with respect to actions or omissions taken or suffered by the Escrow Agent in bad
faith, in willful disregard of this Contract or involving gross negligence on the part of the
Escrow Agent. The Escrow Agent shall have no duty to invest any of the funds deposited
with it hereunder and shall not be responsible for any action or failure to act, unless said
action or failure demonstrates bad faith.
(c) In the event that the down payment check given by PURCHASER pursuant to the
terms and conditions of this Contract is returned for "Insufficient Funds" or not honored
by any bank for any reason whatsoever, PURCHASER shall be deemed to be in default
of this Contract and PURCHASER shall be responsible to pay to SELLER as and for
liquidated damages, a sum equal to the amount of said down payment, unless
PURCHASER delivers a bank or certified check for said amount to SELLER's attorney
within three (3) days of said dishonor, plus the cost of bank charges incurred as a result of
the check being dishonored.
Defaults by Purchaser:
3. In the event PURCHASER fails to make any payments due under this Contract, fails
or refuses to sign any documents required to close title, refuses to pay any costs required
by this Contract or fails to keep any promises made by PURCHASER pursuant to this
Contract, SELLER shall provide written notice of PURCHASER's failure (also known as
a default). If PURCHASER fails to correct said default within fifteen (15) days after
receipt of notice from SELLER, SELLER may terminate this Contract, and retain the
down payment made hereunder. The amount retained by SELLER shall be considered
"liquidated damages" based upon an understanding between the parties hereto that
SELLER will have suffered damages due to the withdrawal of the PREMISES from sale
to the general public. The damages suffered by SELLER as a result will be substantial,
but incapable of determination with mathematical precision. It is, therefore, agreed by the
parties that the amount retained by SELLER is not a penalty, but rather a mutually
beneficial estimate of damages suffered by SELLER.
Defaults by Seller:
4. If SELLER wilfully defaults hereunder, PURCHASER shall have such remedies as
PURCHASER is entitled to at law or in equity, including, but not limited to, specific
performance.
Acceptable Funds:
5. All money payable under this Contract, unless otherwise specified, shall be either:
(a) Cash, or personal check, but not over one thousand ($1,000.00) Dollars;
(b) Good certified check of PURCHASER, or official check of any bank, savings
bank, trust company, or savings and loan association having a banking office in the State
of New York, payable to the order of SELLER;
(c) As otherwise agreed to or requested within five (5) days of CLOSING in writing
by SELLER or SELLER's attorney.
Subject to
Provisions: 6. Said PREMISES are sold and conveyed subject to the following:
(a) Any state of facts an accurate survey or physical inspection may show, provided
same does not render title uninsurable at normal rates;
(b) Covenants, restrictions, easements, reservations, consents and Contracts of record, if
any, provided same are not violated by the existing dwelling structure and present use
thereof;
(c) Rights of record, if any, acquired by any utility company to maintain and operate
lines, wires, cables, poles and distribution boxes, in, over and upon the PREMISES;
(d) Laws and governmental regulations that affect the use and maintenance of the
PREMISES, provided they are not violated by the buildings and improvements erected
on the PREMISES.
Title Company
Approval: 7. SELLER shall give and PURCHASER shall accept such title as any title underwriter,
or any agent in good standing with its underwriter, will be willing to approve and insure
in accordance with the standard form of title policy approved by the New York State
Insurance Department, subject only to the matters provided for in this Contract.
Closing Defined and
Form of Deed: 8. "CLOSING" means the settlement of the obligations of SELLER and PURCHASER to
each other under this Contract, including the payment of the balance of the purchase price
to SELLER, and the delivery to PURCHASER of a Bargain & Sale Deed with Covenants
Against Grantor's Acts in proper statutory form for recording so as to transfer to
PURCHASER full ownership (fee simple title) to the PREMISES, free of all
encumbrances except as herein stated. The deed will contain a covenant by SELLER as
required by Section 13 of the Lien Law.
Corporate Seller:
9. If SELLER is a corporation, SELLER shall provide to PURCHASER at the time of
CLOSING (a) a resolution of its Board of Directors authorizing the sale and delivery of
the Deed; (b) a certificate by the Secretary or Assistant Secretary of the corporation
certifying such resolution and setting forth facts showing that the transfer is in conformity
with the requirements of Section 909 of the Business Corporation Law; and (c) any and
all further documents reasonable required to show that the corporation is authorized to
sell and deliver the deed pursuant to Law. The Deed in such case shall contain a recital
sufficient to establish compliance with that Section.
Closing Date and Place:
10. CLOSING will take place at the office designated by PURCHASER's lender; or
office of Seller's attorney; or
other.
On or before , 200 or on ________, at the election of the Seller. However, if closing is
to occur on or before ____________, then Seller will advise the Purchaser of the closing
date not less than forty-five (45) days in advance of the closing date.
It is understood by and between the parties that CLOSING of the within title shall take
place within the confines of Rockland County and PURCHASER represents that
PURCHASER will make application to a lending institution which closes the mortgage
loan within the County of Rockland; failing which, PURCHASER shall pay to SELLER,
at CLOSING, the additional sum of $250.00, to compensate SELLER for their additional
legal fees.
Possession: 11. (a) In the absence of a written Contract to the contrary, possession of the PREMISES
shall be delivered at CLOSING, vacant and broom clean, except as to articles of personal
property passing to PURCHASER under the terms of this Contract.
(b) In the event a CLOSING date is set and, due to PURCHASER's default, CLOSING
fails to take place, PURCHASER shall pay to SELLER per them CLOSING adjustments
from the said scheduled date to the date of actual CLOSING together with an additional
sum of Two Hundred Fifty ($250.00) Dollars.
Broker: 12. PURCHASER hereby states that PURCHASER has not dealt with any broker in
connection with this sale other than and SELLER agrees to pay the broker the
commission earned thereby (pursuant to separate Contract).
Streets and Assignment of Unpaid Awards:
13. This sale includes all of SELLER's ownership and rights, if any, in any land lying in
the bed of any street or highway, opened or proposed, in front of or adjoining the
PREMISES to the center line thereof. It also includes any right of SELLER to any unpaid
award by reason of any taking by condemnation and/or for any damage to the
PREMISES by reason of change of grade of any street or highway . SELLER will deliver
at no additional cost to PURCHASER, at CLOSING, or thereafter, on demand, any
documents which PURCHASER may require to collect the award and damages.
Seller's Representations:
14. SELLER makes the following warranties and representations:
(a) The street address of the PREMISES is:
(b) The approximate area of the parcel of land conveyed hereunder is:__________;
(c) The current real estate taxes for the PREMISES total approximately $__________,
and SELLER (does not have/has) a veterans exemption;
(d) To SELLER's best knowledge, there are no assessments of any type affecting the
subject PREMISES;
(e) SELLER is not a "foreign person," as that term is defined for purposes of the Foreign
Investment in Real Property Tax Act, Internal Revenue Code ("IRC") Section 1445, as
amended, and the regulations promulgated thereunder (collectively "FIRPTA").
Mortgage Contingency:
15.(a) PURCHASER's obligation under this Contract is subject to, and contingent upon,
the PURCHASER obtaining, at PURCHASER's own cost and expense, a mortgage
commitment in the sum of
$ ,repayable over a period of thirty (30) years with
interest at the prevailing rate per annum, as shall be then charged by such lending
institution, registered mortgage broker or licensed mortgage banker, plus any applicable
"points", discount charges or loan origination fees. PURCHASER warrants and
represents that PURCHASER will, diligently and in good faith, apply for said mortgage
no later than seven (7) business days after the end of the review period, and as the same
may be extended by the parties or their attorneys, and will promptly furnish all reports,
documents, verifications and/or fees required in connection therewith. PURCHASER
agrees to promptly send to SELLER's attorney a copy of any bank letter received by
PURCHASER granting or declining the mortgage commitment. In the event
PURCHASER does not obtain said mortgage commitment by ____________ after the
exercise of good faith, then this Contract shall be deemed null and void at the option of
either party to this Contract, communicated to the other party, or to the other party's
attorney, in writing, via the United States Postal System; and SELLER's sole liability
thereunder shall be the return of all monies paid pursuant to this Contract. If, however,
prior to actual denial of PURCHASER's mortgage application, PURCHASER elects to
cancel this Contract pursuant to the provisions of this Paragraph; SELLER may, by notice
to PURCHASER's attorney given within three (3) days thereafter, unilaterally extend the
time, for an additional period of not more than thirty (30) days, for PURCHASER to
obtain the said mortgage commitment; during which period of time, PURCHASER shall
continue to diligently pursue PURCHASER's efforts to obtain such mortgage
commitment.
(b) A commitment requiring PURCHASER to sell any property, or to discharge any debt,
as a condition precedent to CLOSING of the mortgage loan, shall be deemed to be a
"mortgage commitment" which shall satisfy the contingent aspect of this Paragraph;
however, a Commitment Letter which is subject to an appraisal of the PREMISES, or a
credit report of PURCHASER, or a P.M.I. application, and/or verification of
PURCHASER's income shall not be deemed a commitment for purposes of this
Paragraph.
(c) If PURCHASER is unable to obtain a commitment for such mortgage, SELLER's
attorney shall, upon request, have the right to see copies of the application filed by
PURCHASER with the proposed mortgagee. If requested, PURCHASER will request, in
writing, that the proposed mortgagee send a copy of the application to SELLER's
attorney.
(d) In the event that PURCHASER receives a co mmitment for a new first mortgage for a
sum less than the amount applied for, SELLER may reduce the Purchase Price by the
amount of the difference between the mortgage applied for and the mortgage obtained
and PURCHASER shall not have the right to declare this Contract null and void, if such
modification is acceptable to PURCHASER's mortgage lender.
Mortgagee's Certificate or Letter as to Existing Mortgage(s):
16. If the PREMISES are encumbered by an existing mortgage(s) SELLER agrees to
deliver to PURCHASER at CLOSING a duly executed Satisfaction of such mortgage(s)
in proper recordable form for such mortgage(s) together with the underlying note(s) and
mortgage(s). SELLER shall pay the fees for recording such Satisfaction of mortgage(s).
If the holder of a mortgage is a bank or other institution as defined in Section 274-s, Real
Property Law, SELLER may, instead of the satisfaction, furnish an unqualified letter
signed by the holder of such existing mortgage(s) dated not more than thirty (30) days
before CLOSING certifying the amount of the unpaid principal and interest and the per
them interest rate.
Compliance with State and Municipal Department Violations and Orders:
17.(a) SELLER will comply with all notes or notices of violations of law, municipal
ordinances, order or requirements noted in or issued by any governmental department
having authority as to lands, housing, buildings, fire, health and labor conditions affecting
the PREMISES at the date of CLOSING. The PREMISES shall be transferred free of
them at CLOSING and this provision shall survive CLOSING. SELLER shall furnish
PURCHASER with any authorizations necessary to make the search es that could disclose
these matters.
(b) Violations that may be required to be removed by SELLER shall not constitute
objections to title, provided SELLER at CLOSING, deposits with SELLER's attorneys, in
escrow, a sum reasonably sufficient to remedy and cure said violations within ninety (90)
days from the date of CLOSING and submits proof of the discharge of said violations of
record to PURCHASER or their attorneys within one hundred twenty (120) days from the
date of CLOSING, provided same is acceptable to the lending institution, if this Contract
is conditioned upon the procurement of a mortgage. A sum reasonably sufficient shall be
that sum agreed upon by the attorney for PURCHASER and the attorney for SELLER;
and, if said attorneys cannot so agree, then both attorneys shall choose an independent
Contractor whose decision as to said amount to be held in escrow shall be deemed final
and binding on all parties.
(c) If the PREMISES are located within a jurisdiction which requires personal inspection
of the PREMISES, SELLER will reasonably cooperate in obtaining the Certificate of
Occupancy and Violation Searches.
Violations of Record:
18. If the cost of the removal of violations required to be removed by SELLER pursuant
to the provisions of this Contract shall be in excess of Two Thousand Five Hundred
($2,500.00) Dollars, SELLER is hereby granted an option to withdraw from this
Contract, in which event, SELLER shall refund to PURCHASER the monies paid on the
execution hereof, whereupon this Contract shall become null and void without further
liability from either party to the other, unless PURCHASER shall agree to take title
subject to said violations and assume the performance thereof and receive an abatement
in reduction of the Purchase Price in the sum of Two Thousand Five Hundred ($2,500.00)
Dollars. The options herein granted shall be exercised by notice in writing by either party,
or their attorneys, on or before the time fixed for CLOSING, by certified mail, return
receipt requested.
Conditions of Closing:
19. SELLER shall deliver, prior to CLOSING, to PURCHASER a valid and subsisting
Certificate of Occupancy or other required certificate of compliance, or evidence that
none was required, covering the building(s) and all of the other improvements located on
the property authorizing their use as a
one two (check one) family dwelling at the
date of CLOSING.
Installment Assessments:
20. If at the time of CLOSING the PREMISES are affected by an assessment which is or
may become payable in annual installments, and the first installment is then a lien, or has
been paid, then for the purposes of this Contract all the unpaid installments shall be
considered due and are to be paid by SELLER at CLOSING, unless the assessment is part
of the State, County, Town taxes and/or Village taxes (if applicable) in which event same
shall be adjusted in accordance with Paragraph 21 herein.
Apportionments:
21.(a) The following are to be apportioned as of Midnight of the date before CLOSING:
Taxes, water charges and sewer rents, fuel, if any, and municipal solid waste fees, if any.
(b) Tax adjustments shall be made in accordance with the following procedure (the
Rockland County Bar Association Resolution):
(1) State, County and Town Taxes shall be adjusted for the tax year from
January 1
st
through December 31
st
(2) School Taxes shall be adjusted for the tax year from September 1
st
through August 31
st
(3) Village Taxes shall be adjusted for the tax year from June 1
st
through May
31
st
(unless the subject Village utilizes a different tax year, in which case such tax
year shall be the basis for adjustment);
(4) The taxes shall be computed on a 365 days basis; and
(5) PURCHASER shall pay the tax for the day upon which the adjustment is
made.
(c) If CLOSING shall occur before a new tax rate is fixed, the apportionment of taxes
shall be upon the basis of the old tax rate for the preceding period applied to the latest
assessed valuation.
(d) Any errors or omissions in computing apportionments at CLOSING shall be
corrected. This provision shall survive CLOSING, but in no event shall survival exceed
60 days from the actual date of CLOSING.
Water Meter Readings:
22. If there are water meter(s) and other utilities meters on the PREMISES, SELLER
shall furnish a reading for each meter to a date not more than Five (5) days before
CLOSING date and the unfixed utility meter charges if any, shall be apportioned on the
basis of such last reading.
Allowance for Unpaid Taxes, etc.:
23. SELLER has the option to credit PURCHASER as an adjustment of Unpaid Taxes,
etc., the Purchase Price with the amount of any unpaid taxes, assessments or utility
charges, together with any interest and penalties thereon, to a date not less than three (3)
business days after CLOSING, provided that official bills therefor computed to said date
are produced at CLOSING.
Use of Purchase Price to Pay Seller Obligations:
24. If there is anything else affecting the sale of which SELLER is obligated to pay and
discharge at CLOSING, SELLER may use any portion of the balance of the purchase
price to discharge it. As an alternative, SELLER may deposit money with the Title
Insurance Company employed by PURCHASER and required by it to assure its
discharge; but only if the Title Insurance Company will insure PURCHASER's title clear
of the matter or insure against its enforcement out of the PREMISES, and if acceptable to
the mortgage lender. Upon request, made within a reasonable time before CLOSING,
PURCHASER agrees to provide separate certified checks as requested to assist in
clearing up these matters.
Affidavit as to Judgments, Bankruptcies, Etc.:
25. If a title examination discloses judgments, bankruptcies or other returns against
persons having names the same as or similar to that of SELLER, SELLER shall deliver a
detailed affidavit satisfactory to the Title Insurance Company insuring PURCHASER at
CLOSING showing that they are not against SELLER. SELLER's representations herein
shall survive CLOSING.
Deed Transfer and Recording Taxes:
26. At CLOSING, SELLER shall deliver a check or other acceptable funds payable to the
order of the Rockland County Clerk, or to the Title Company, in the amount of any
applicable transfer tax payable by reason of the recording of the Deed, together with any
required tax return. PURCHASER agrees to duly complete the tax return and to cause the
check(s) and the tax return to be delivered to the Title Insurance Company representative
at CLOSING.
Purchaser's Lien:
27. All money paid on account of this Contract, and the reasonable expenses of
examination of the title to the PREMISES and of any survey and survey inspection
charges are hereby made liens on the PREMISES and collectable out of the PREMISES.
Such liens shall not continue after default in performance of this Contract by
PURCHASER (the term default being herein defined in Paragraph 3 above).
Seller's Inability to Convey; Limitation of Liability:
28. If SELLER is unable to transfer title to PURCHASER in accordance with this
Contract, SELLER's sole liability shall be to refund all money paid on account of this
Contract, plus all charges incurred for: (i) examining the title; (ii) any appropriate
additional searches made in accordance with this Contract; and (iii) survey and survey
inspection charges; (iv) prepaid, nonrefundable lender's fees, not to exceed I% of the
mortgage amount; (v) credit check and appraisal fees in the actual amounts incurred; and
(vi) engineer's inspection fees, not to exceed Five Hundred ($500.00) Dollars. Upon such
refund and payment, this Contract shall be considered cancelled, and neither SELLER or
PURCHASER shall have any further rights against the other party.
Condition of premises:
29. The PREMISES are sold in an "AS IS" physical condition and SELLER makes no
representations other than that the roof is free of leaks, and the plumbing, heating and
electrical systems, appliances, air-conditioning systems, if applicable, septic system, if
applicable, and items of personal property to be conveyed to PURCHASER under this
Contract, now in said dwelling, are in working order and will be in such condition at the
time of transfer of possession to PURCHASER, normal wear and tear excepted. This
paragraph shall not be construed as a warranty surviving transfer of possession. The limit
of SELLER's liability for non-working appliances, however, shall be the market value of
such appliances in their condition as of the date hereof.
Lead Paint Inspection and Risk Assessment Contingency:
30. This provision shall not apply to any residential dwelling (including any cooperative
apartment or condominium unit) where a building permit was obtained after January 1,
1978 or, where no permit was obtained, where construction actually started after January
1, 1978.
The parties acknowledge that all disclosures required pursuant to 42 U.S.C. 4852d
(Residential Lead-Based Paint Hazard Reduction Act of 1992) and 24 CFP Part 35 and
40 CFP Part 745 (Requirements for Disclosure of Known Lead-Based Paint and/or
Lead-Based Paint Hazards in Housing) have been made and that Purchaser has been
provided with the pamphlet Protect Your Family from Lead in Your Home. Attached to
this contract and made a part hereof is the form entitled, Disclosure of Information
on Lead-Based Paint and Lead-Based Paint Hazards. This form has been completed,
initialed and executed by the parties and their agents, if any.
This provision shall not apply in the event that Purchaser has waived the opportunity to
conduct a risk assessment or inspection of the premises for the presence of lead-based
paint and/or lead-based paint hazards and has further affirmed that waiver by completing
and initialing the Purchaser's Acknowledgment portion, section e, of the aforementioned
form Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards
attached to this contract and made a part hereof.
Unless same shall have been waived by Purchaser, this contract is fu rther contingent
upon Purchaser obtaining, at Purchaser's sole cost and expense, a risk assessment or
inspection of the premises for the presence of lead-based paint and/or lead-based paint
hazards on or before the expiration of ten (10) days from the date of this contract. In the
event that Purchaser determines that there is/are lead-based paint and/or lead paint
hazards on the premises, Purchaser shall, within three (3) business days, (a) notify
Seller's attorneys in writing of any specific existing deficiencies and corrections needed;
and (b) simultaneously furnish Seller's attorney with a copy of the inspection and/or risk
assessment report. Upon receipt of such notice and report by Seller's attorney, Seller shall
have three (3) business days to notify Purchaser whether Seller elects, at Seller's sole
option, to correct such deficiencies and/or conditions prior to closing and further to
furnish Purchaser, before or at closing, with certification from Seller's inspector or risk
assessor that the deficiencies and/or conditions have been remedied. In the event Seller
elects not to correct such deficiencies and/or conditions, Purchaser shall have three (3)
additional business days to notice Seller's attorney s in writing that Purchaser either (1)
waives this contingency and agrees to accept the premises "as is"; or (2) cancels this
Contract of Sale. In the event of such cancellation, Seller's attorneys shall forthwith,
subject to the clearance of Purchaser's down payment check, return the down payment to
Purchaser's attorney, made payable to Purchaser, whereupon this contract shall be
deemed canceled and neither party shall have any further rights or claims against, or
obligations or liabilities to, the other by reason of this contract. In the event that
Purchaser does not cancel this Contract, as provided for herein, then, and in such event,
this Contract shall be deemed to be in full force and effect with no responsibility on the
part of Seller to correct the deficiencies and/or conditions originally required by
Purchaser and Purchaser shall have no further claim against Seller for such deficiencies
and/or conditions.
Maintenance:
31. It shall be the obligation of SELLER to maintain the PREMISES, both interior and
exterior, present condition, except as may be otherwise set forth herein, until the transfer
of possession of the PREMISES.
Inspection:
32. PURCHASER shall have access to the PREMISES within forty-eight (48) hours prior
to CLOSING or taking possession, with all utilities in service, in order to ascertain the
condition of the PREMISES with regard to Paragraphs, "11a
", "29 " and "31" herein.
Notices:
33. All notices required pursuant to this Contract shall be in writing and forwarded to the
other party's attorney at the office address of such party's attorney (except for paragraph
"15(a)") via the United States Postal Service, certified mail, return receipt requested; and
such notice shall be deemed given on the third business day following mailing of such
notice. Alternatively, a notice may be delivered by an overnight delivery service, or by
facsimile, but in any case, such notice shall be deemed made upon the date such notice is
actually received by the attorney . However, a notice of default or cancellation shall only
be made by certified mail, return receipt requested.
Closing Funds:
34. PURCHASER does hereby personally guarantee all funds that shall be submitted by
PURCHASER, or on their behalf, to SELLER at the time of CLOSING as and for the
balance of the Purchase Price; it being understood that this personal guaranty shall
survive the delivery of the Deed.
Headings:
35. The paragraph headings are for convenience only and have no legal significance.
Assignment:
36. This Contract may not be assigned or transferred by PURCHASER without the prior
express written permission of SELLER.
House Inspection:
37. (a) In the event PURCHASER shall seek to have conducted a home and/or termite
inspection, same should be accomplished on or before ___________ and SELLER's
attorneys shall be notified in writing or by facsimile transmission within three (3)
business days thereafter if there are any objectionable conditions which PURCHASER
request to be corrected. Upon receipt of such notice by SELLER's attorneys, SELLER
shall have three (3) business days to notify PURCHASER whether SELLER agrees to
make such repairs or refuses to do the requested repairs. In the event SELLER refuses to
make such repairs, PURCHASER shall have three (3) additional business days to notify
SELLER's attorney that PURCHASER elects to cancel this Contract of Sale. In the event
of such cancellation, SELLER's attorneys shall forthwith, subject to clearance of
PURCHASER's down payment check, return the down payment to PURCHASER's
attorney, made payable to PURCHASER. In the event that PURCHASER does not cancel
this Contract, as provided in this Paragraph, then, and in that event, this Contract shall be
deemed to be in full force and effect with no responsibility on the part of SELLER to
make the repairs originally requested by PURCHASER.
(b) In the event PURCHASER obtains a written home inspection report, a copy
thereof shall be delivered to the attorneys for SELLER within five (5) business days of
receipt thereof by PURCHASER.
Deed Description:
38. SELLER shall, at CLOSING, include in the Deed of Conveyance such description of
the PREMISES as may be required by the lending institution, or the Title Insurance
Company insuring the conveyance of title. In the event such description is based upon a
new survey, such survey shall also be certified or guaranteed to SELLER.
Changes Must be in Writing:
39. This Contract may not be changed or cancelled, except in writing, and signed by the
parties or their attorneys.
Contract Binding:
40. This Contract shall also apply to and bind the distributees, heirs, executors,
administrators, successors and permitted assigns of the respective p arties.
Singular also Means Plural:
41. Any singular word or term herein shall also be read as in the plural and vice versa,
whenever the sense of this Contract may require it.
Conflicts:
42. This Contract constitutes the entire Contract between the parties and shall not be
modified or altered by any Contracts, warranties or representations, whether expressed or
implied, unless set forth in writing and executed by all of the parties hereto or their
respective attorneys.
Home Warranty:
43. Home Warranty shall be paid for by SELLER at closing.
Attorney Authorization:
44. EACH OF THE PARTIES HEREBY AUTHORIZE THEIR ATTORNEYS TO
AGREE IN WRITING TO ANY CHANGES IN DATE AND TIME PERIODS
PROVIDED FOR IN THIS CONTRACT.
SELLER SOCIAL SECURITY NUMBER
SELLER SOCIAL SECURITY NUMBER
PURCHASER SOCIAL SECURITY NUMBER
PURCHASER SOCIAL SECURITY NUMBER
Dated: Dated:
SCHEDULE "B"
PERSONAL PROPERTY RIDER
Personal Property: (a) The sale also includes all fixtures and articles of personal property attached to or
used in connection with the PREMISES, unless specifically excluded below. SELLER states that they are
paid for and owned by SELLER free and clear of any lien other than the EXISTING MORTG AGE(S).
They include but are not limited to: (check the boxes as needed)
PLUMBING FIXTURES
LIGHTING FIXTURES
KITCHEN CABINETS
DOOR MIRRORS
SHADES
AWNINGS
WINDOW BOXES
MAILBOX(ES)
FLAGPOLES
SHRUBBERY
OUTDOOR STATUARY
DISHWASHER(S)
CLOTHES DRYER(S)
RANGE(S)
FREEZER(S)
WALL TO WALL CARPETING
WINDOW TREATMENTS
HEATING FIXTURES
BATHROOM CABINETS
MANTELS
STORM WINDOWS
STORM DOORS
WEATHER VANE(S)
PUMPS
FENCING
TOOL SHED(S)
WASHING MACHINE(S)
GARBAGE DISPOSAL UNIT(S)
REFRIGERATOR(S)
GARAGE DOOR OPENER(S)
AIR CONDITIONING EQUIPMENT
AND INSTALLATIONS
(b) Excluded from this sale are
FURNITURE
DINING ROOM FIXTURE
HOUSEHOLD FURNISHINGS
(c) The personal property to be conveyed pursuant to this Contract shall only be to the extent that
said personal property presently exists upon the PREMISES, and shall be deemed transferred to and
conveyed to PURCHASER under the Deed of Conveyance to be delivered; but it is understood and
agreed that no part of the purchase price shall be deemed to have been paid the PURCHASER for
same and that the property transferred hereunder shall be deemed to have been transferred without
consideration.
(d) If, however, it is determined that, notwithstanding the foregoing Paragraph, there is a sales tax
due for the transfer of any of the items noted in this Contract, PURCHASER shall hold harmless and
indemnify SELLER for any sales tax liability. This Paragraph shall survive CLOSING.
_______________________ _________ ____________________________ ___________
Seller Date Purchaser Date
_______________________ _________ ____________________________ ___________
Seller Date Purchaser Date
_______________________ _________ ____________________________ ___________
Seller Date Purchaser Date
_______________________ _________ ____________________________ ___________
Seller Date Purchaser Date
ACKNOWLEDGEMENTS
Acknowledgement taken in New York State
STATE OF NEW YORK
COUNTY OF , ss:
On the day of , in the year 20 , before me the undersigned, personally
appeared
personally known to me or proved to me on the basis of satisfactory evidence, to be the individual(s) whose name(s)
is (are) subscribed to the within instrument and acknowledged to me that (he) (she) (they) executed the same in (his)
(her) (their) capacity(y)(ies), and that by (his) (her) (their) signature(s) on the instrument, the individual(s) or the
person upon behalf of whi c h the individual(s) acted, executed the instrument.
_______________________________
Notary Public
Acknowledgement taken outside New York State
*STATE OF
COUNTY OF , ss:
* (or insert District of Columbia, Territory, Possession or Foreign Country)
On the day of , in the year 20 , before me the undersigned, personally
appeared
personally known to me or proved to me on the basis of satisfactory evidence, to be the individual(s) whose name(s)
is (are) subscribed to the within instrument and acknowledged to me that (he) (she) (they) executed the same in (his)
(her) (their) capacity(y)(ies), and that by (his) (her) (their) signature(s) on the instrument, the individual(s) or the
person upon behalf of which the individual(s) acted, executed the instrument, and that such individual(s) made such
appearance b efore the undersigned in the
(add the city or political subdivision and the state or country or other place the acknowled gme nt was taken).
_______________________________
Notary Public
Acknowledgement by Subscribing Witness taken in New York State
STATE OF NEW YORK
COUNTY OF , ss:
On the day of , in the year 20 , before me the undersigned, personally
appeared
the subscribing witness to the foregoing instrument, with whom I am personally acquainted, who being by me duly
sworn, did depose and say, that (he) (she) (they) reside(s) in
;
that (he) (she) (they) know(s) to be the individual
described in and who executed the foregoing instrument; that said subscribing witness was present and saw said
execute the same; and that said witness
at the same time subscribed (his) (her) (their) name(s) as a witness thereto.
_______________________________
Notary Public
