Real Estate Land Acquisition Agreement
This Real Estate Land Acquisition Agreement ("Agreement") is made and entered into on [Date], by and between [Your Company Name], a company duly organized and existing under the laws of [Jurisdiction], with its principal place of business at [Your Company Address] (hereinafter referred to as the "Seller"), and [Buyer Name], an individual/legal entity, with its principal place of residence/business at [Buyer Address] (hereinafter referred to as the "Buyer").
1. Property Description:
The Seller agrees to sell, and the Buyer agrees to purchase, the following described real property (the "Property"):
Legal Description: Lot 5, Block 12, Smithson Subdivision, according to the plat thereof recorded in Plat Book 33, Page 14, of the Official Records of New York.
Address: 2735 James Avenue, Syracuse, NY 13202
2. Purchase Price:
The total purchase price for the Property shall be $[Amount], payable as follows:
Initial Deposit: $[Amount] upon execution of this Agreement.
Balance: The remaining balance of $[Amount] shall be paid by the Buyer to the Seller at closing, as described in Section 4.
3. Due Diligence Period:
The Buyer shall have a due diligence period of [X] days from the Effective Date of this Agreement to inspect the Property, conduct any necessary investigations, and satisfy themselves with the condition of the Property.
4. Closing:
Closing of the purchase and sale contemplated by this Agreement shall occur no later than [Date] ("Closing Date"). The closing shall take place at a mutually agreeable location, and the Buyer shall pay the balance of the purchase price to the Seller via certified funds or wire transfer.
5. Contingencies:
This Agreement is contingent upon the following:
Financing Contingency: Buyer obtaining satisfactory financing for the purchase of the Property.
Title Contingency: Buyer receiving a commitment for title insurance for the Property, insuring title to the Property in Buyer's name, subject only to Permitted Exceptions.
6. Seller's Representations and Warranties:
The Seller represents and warrants to the Buyer that:
The Seller has good and marketable title to the Property, free and clear of all liens, encumbrances, and defects.
The Seller has the legal authority to sell the Property as contemplated by this Agreement.
7. Miscellaneous:
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
This Agreement constitutes the entire agreement between the parties concerning the subject matter hereof and supersedes all prior negotiations, understandings, and agreements.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.
[Your Company Name]
[Representative Name]
[Date]
[Buyer Name]
[Date]
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