Free House Contract

I. Introduction

This House Contract ("Contract") is entered into on [Effective Date], between [Your Name], located at [Your Company Address] ("Seller"), and [Buyer Name], located at [Buyer Address] ("Buyer"), collectively referred to as the "Parties."

II. Seller Information

• Name: [Your Name]

• Address: [Your Company Address]

• Contact Number: [Your Company Number]

• Email Address: [Your Company Email]

III. Buyer Information

• Name: [Buyer Name]

• Address: [Buyer Address]

• Contact Number: [Buyer Phone Number]

• Email Address: [Buyer Email Address]

IV. Effective Date

This Contract shall be effective as of [Effective Date].

V. Terms of House Contract

1. Property Description: The Seller agrees to sell, and the Buyer agrees to purchase, the property located at [Property Address] ("Property"). The Property includes all fixtures and fittings unless otherwise specified.

2. Purchase Price: The purchase price for the Property shall be [Purchase Price], payable in the following manner: [Payment Terms]. Any deposit paid shall be deducted from the total purchase price.

3. Closing Date: The closing of the sale shall take place on or before [Closing Date]. The closing shall be conducted at a mutually agreed-upon location.

4. Title and Ownership: The Seller shall deliver a clear and marketable title to the Property to the Buyer at closing. The Seller warrants that they are the legal owner of the Property and have the right to sell it.

5. Inspections: The Buyer shall have the right to conduct inspections of the Property at their own expense. The Seller shall provide reasonable access to the Property for inspection purposes.

6. Repairs and Maintenance: The Seller shall maintain the Property in its current condition until the closing date. Any damage or repairs needed prior to closing shall be the responsibility of the Seller.

VI. Compensation and Benefits

In consideration for the sale of the Property, the Seller shall pay the Buyer the following compensation and benefits:

1. Purchase Price: The total purchase price for the Property is [Purchase Price]. This price includes the cost of the Property, as well as any fixtures, fittings, and appliances included in the sale.

2. Earnest Money Deposit: Upon the execution of this Contract, the Buyer shall deposit [Deposit Amount] as earnest money. This earnest money shall be applied towards the purchase price at closing.

3. Closing Costs: The Seller shall be responsible for [Seller's Closing Costs], and the Buyer shall be responsible for [Buyer's Closing Costs]. These costs include but are not limited to, attorney fees, title insurance, and recording fees.

4. Prorations: Any property taxes, homeowners association fees, or other expenses related to the Property shall be prorated as of the closing date, with the Seller responsible for the portion up to the closing date and the Buyer responsible for the portion thereafter.

5. Contingencies: The sale of the Property is contingent upon [Contingencies]. If these contingencies are not met, the Buyer may terminate this Contract and receive a refund of the earnest money deposit.

6. Seller Financing: If the Seller is providing financing to the Buyer, the terms of the financing shall be as follows: [Terms of Financing]. The Seller shall provide the Buyer with a promissory note outlining the terms of the financing.

7. Closing Statement: At closing, the Seller shall provide the Buyer with a closing statement detailing all financial transactions related to the sale of the Property.

VII. Confidentiality and Non-Disclosure

1. Confidential Information: Both Parties agree to keep all information related to this Contract confidential and not disclose it to any third party without prior written consent, except as required by law. This includes, but is not limited to, the terms of the sale, financial information, and any other information deemed confidential by either Party.

2. Non-Disclosure Obligation: The Parties agree not to disclose any confidential information obtained during the course of this Contract to any third party, including employees, contractors, or agents, without the prior written consent of the disclosing Party.

3. Exceptions: Notwithstanding the above, either Party may disclose confidential information if required by law, regulation, or court order. However, the disclosing Party shall notify the other Party of such disclosure as soon as practicable to allow the other Party to seek a protective order or other appropriate remedy.

4. Return of Information: Upon termination of this Contract, or at the request of either Party, all confidential information shall be promptly returned to the disclosing Party or destroyed, at the discretion of the disclosing Party.

5. Survival: The obligations of confidentiality and non-disclosure shall survive the termination of this Contract and shall continue indefinitely, unless otherwise agreed upon in writing by both Parties.

6. Remedies: In the event of a breach of this section, the non-breaching Party shall be entitled to seek injunctive relief, as well as any other remedies available at law or in equity.

7. No Waiver: The failure of either Party to enforce any provision of this section shall not be construed as a waiver of such provision or the right to enforce it at a later time.

Both Parties acknowledge that any breach of this section may cause irreparable harm for which monetary damages may not be an adequate remedy, and therefore agree that the non-breaching Party shall be entitled to seek injunctive relief, in addition to any other remedies available at law or in equity.

VIII. Termination Conditions

1. Mutual Agreement: This Contract may be terminated by mutual agreement of the Parties. Any termination agreement must be in writing and signed by both Parties.

2. Inspection Contingency: If the Buyer's inspection of the Property reveals significant defects or issues that cannot be resolved to the satisfaction of the Buyer, the Buyer may terminate this Contract by providing written notice to the Seller within [Number] days of the inspection.

3. Financing Contingency: If the Buyer is unable to secure financing for the purchase of the Property by a specified date, either Party may terminate this Contract by providing written notice to the other Party.

4. Title Contingency: If the Seller is unable to provide a clear and marketable title to the Property by the closing date, either Party may terminate this Contract by providing written notice to the other Party.

5. Force Majeure: If either Party is unable to perform its obligations under this Contract due to events beyond its control, such as natural disasters, acts of God, or government actions, either Party may terminate this Contract by providing written notice to the other Party.

6. Default: If either Party fails to perform its obligations under this Contract and such failure continues for a specified period after written notice from the other Party, the non-defaulting Party may terminate this Contract.

7. Consequences of Termination: Upon termination of this Contract, all rights and obligations of the Parties shall cease, except for those provisions that expressly survive termination, such as confidentiality and non-disclosure obligations.

8. Return of Earnest Money: In the event of termination, any earnest money deposit shall be returned to the Buyer, less any expenses incurred by the Seller in connection with the sale of the Property, such as inspection costs or repairs.

9. No Waiver: The failure of either Party to enforce any provision of this section shall not be construed as a waiver of such provision or the right to enforce it at a later time.

IX. Dispute Resolution

1. Negotiation: In the event of any dispute or disagreement arising out of or relating to this Contract, the Parties agree to first attempt to resolve the dispute through good-faith negotiations.

2. Mediation: If the dispute cannot be resolved through negotiation, the Parties agree to submit the dispute to mediation conducted by a mutually agreed-upon mediator. The cost of the mediation shall be shared equally by the Parties.

3. Arbitration: If the dispute is not resolved through mediation, either Party may initiate arbitration by providing written notice to the other Party. The arbitration shall be conducted in accordance with the rules of [Arbitration Association] by a single arbitrator appointed by mutual agreement of the Parties.

4. Binding Arbitration: The decision of the arbitrator shall be final and binding on both Parties, and judgment may be entered in any court of competent jurisdiction. The Parties agree to waive any right to trial by jury.

5. Costs: Each Party shall bear its own costs and expenses, including attorney fees, incurred in connection with the dispute resolution process, unless otherwise awarded by the arbitrator.

6. Confidentiality: All communications made during the dispute resolution process, including negotiations, mediation sessions, and arbitration proceedings, shall be confidential and shall not be disclosed to any third party without the prior written consent of the other Party.

7. Enforcement: The Parties agree to cooperate in good faith to implement and enforce any decision or award resulting from the dispute resolution process.

8. No Waiver: The failure of either Party to enforce any provision of this Contract shall not be construed as a waiver of such provision or the right to enforce it at a later time.

X. Governing Law

1. Choice of Law: This Contract shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles.

2. Jurisdiction: Any legal actions arising out of or relating to this Contract shall be brought in the courts of [State].

3. Waiver of Jury Trial: The Parties hereby waive any right to trial by jury in any legal action arising out of or relating to this Contract.

4. Severability: If any provision of this Contract is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

5. Amendments: Any amendments or modifications to this Contract must be in writing and signed by both Parties.

6. Notices: Any notices required or permitted under this Contract shall be in writing and shall be deemed properly given if delivered personally, sent by registered or certified mail, or sent by overnight courier to the Parties at their respective addresses.

7. Entire Agreement: This Contract constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations, and discussions, whether oral or written, between the Parties.

8. No Waiver: The failure of either Party to enforce any provision of this Contract shall not be construed as a waiver of such provision or the right to enforce it at a later time.

9. Counterparts: This Contract may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

XI. Signatures

IN WITNESS WHEREOF, the Parties have executed this Contract as of the Effective Date.

Seller: [Your Name]

Date: [Date Signed]

Buyer: [Buyer's Name]

Date: [Date Signed]

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