Sample Land Purchase Agreement
This Land Purchase Agreement ("Agreement") is entered into on March 25, 2050, between [Your Name], located at [Your Company Address], hereinafter referred to as the "Buyer," and Michael Carter, located at 745 Sunset Avenue, Phoenix, AZ 85022, hereinafter referred to as the "Seller."
I. Description of Property
The property subject to this Agreement is located at 456 Evergreen Lane, Tucson, AZ 85701, and more particularly described as Lot 7, Block 9, Tucson Valley Subdivision, as recorded in Plat Book 8, Page 42, of the County Recorder's Office.
II. Sale Price
The agreed sale price of the land is $750,000. The total purchase price shall be paid by the Buyer to the Seller on or before the Closing Date.
III. Payment Terms
Deposit: A deposit of $25,000 (twenty-five thousand dollars), due upon execution of this Agreement, is to be held in escrow by Arizona Title and Escrow Services.
Remaining Balance: The remaining balance of the purchase price, totaling $725,000 (seven hundred twenty-five thousand dollars), shall be paid by certified check or wire transfer at the closing of the sale.
IV. Conditions of Sale
Financing Contingency: The sale is contingent upon the Buyer obtaining satisfactory financing within 30 days from the execution of this Agreement.
Clear Title: The Seller shall provide a clear title to the property, free of all liens and encumbrances, at the time of closing.
Inspections and Surveys: Any inspections or surveys of the property shall be completed by the Buyer at their expense within 21 days from the execution of this Agreement.
V. Warranties
The Seller warrants the following:
VI. Closing
The closing of the sale shall take place on May 1, 2050, or on another mutually agreed date by both parties. At the time of closing:
The Seller shall deliver a deed conveying the property to the Buyer.
The Buyer shall deliver the remaining balance of the purchase price, completing the transaction.
VII. Miscellaneous Provisions
Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements or understandings, whether written or oral.
Amendments: Any amendments to this Agreement must be made in writing and signed by both parties.
Governing Law: This Agreement shall be governed by the laws of Arizona, without regard to its conflict of laws principles.
VIII. Signatures of Agreement
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of March 25, 2050.
Buyer
[Your Name]
March 25, 2050
Seller
Michael Carter
March 25, 2050
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