Real Estate Agreement Letter
[YOUR NAME]
[YOUR COMPANY NAME]
[YOUR COMPANY ADDRESS]
October 3, 2050
Harold Abern
Dallas, TX 85224
Subject: Real Estate Purchase Agreement
Dear Harold Abern,
This letter serves as a formal Real Estate Purchase Agreement between Harold Abern (the "Buyer") and [YOUR NAME] (the "Seller") regarding the purchase of the property located at Peoria, AZ 85345, hereinafter referred to as the "Property."
1. Property Description
The Property being purchased is described as follows:
Address: Peoria, AZ 85345
Legal Description: Lot 12, Block 3, Peoria Subdivision, according to the plat thereof recorded in the County Clerk's Office.
2. Purchase Price
The total purchase price for the Property shall be One Hundred Fifty Thousand Dollars ($150,000), to be paid as follows:
An earnest money deposit of Five Thousand Dollars ($5,000) shall be paid within 7 days of the acceptance of this agreement.
The remaining balance shall be paid at closing, which is to occur on or before November 30, 2050.
3. Contingencies
This agreement is contingent upon the following conditions:
Financing Contingency: Buyer obtaining a mortgage loan from a lender of their choice.
Inspection Contingency: A satisfactory home inspection to be completed by November 15, 2050.
Appraisal Contingency: The property must appraise for at least the purchase price.
4. Closing
The closing of the sale shall take place on or before November 30, 2050, at [YOUR COMPANY ADDRESS]. The Buyer and Seller shall agree upon a mutually acceptable date and time.
5. Possession
Possession of the Property shall be delivered to the Buyer on the closing date, unless otherwise agreed upon in writing.
6. Representations and Warranties
The Seller represents and warrants that:
They are the sole owner of the Property and have the legal right to sell it.
There are no existing liens or encumbrances against the Property, except as disclosed.
7. Governing Law
This agreement shall be governed by and construed in accordance with the laws of the State of [STATE NAME].
8. Signatures
This agreement shall be binding upon the parties upon execution. By signing below, both parties agree to the terms outlined in this Real Estate Purchase Agreement.
[YOUR NAME]
October 3, 2050
Harold Abern
October 3, 2050
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