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REAL ESTATE PURCHASE AGREEMENTTHIS REAL ESTATE PURCHASE AGREEMENT (the “Agreement”) is entered into this __ day of ____, 20__ (the “Effective Date”), by and between ______ (the “Seller”) and ______ (the “Buyer”).
1. PROPERTY DESCRIPTIONThe property to be sold pursuant to this Agreement is commonly known as ______, and legally described as ______ (the “Property”).
2. PURCHASE PRICEThe total purchase price for the Property (the “Purchase Price”) is ______. The Purchase Price shall be paid in cash, by certified check, or through other means as agreed upon by the parties.
3. DEPOSITUpon execution of this Agreement, Buyer shall deposit with a mutually acceptable escrow agent the sum of ______ (the “Deposit”).
4. INSPECTIONSBuyer shall have the right, at its sole cost and expense, to inspect the Property. Such inspection shall include, but not be limited to, a thorough review of the physical condition of the Property, and all applicable zoning, environmental, and other laws and regulations affecting the Property.
5. TITLE AND DEEDSeller shall convey to Buyer good and marketable title to the Property by statutory special warranty deed, subject to normal easements, restrictions of record, and zoning laws.
6. CLOSINGThe closing of the sale shall take place on or before ______ (the “Closing Date”) at the office of the escrow agent or at such other place as agreed upon by the parties.
7. POSSESSIONSeller shall deliver possession of the Property to Buyer at closing, free and clear of all tenancies and leases.
8. CONTINGENCIESThis Agreement is contingent upon Buyer obtaining a satisfactory home inspection report of the Property, a commitment for title insurance, and a mortgage loan for ______.
9. GOVERNING LAWThis Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.
10. ENTIRE AGREEMENTThis Agreement contains the entire agreement of the parties and there are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this Agreement. IN WITNESS WHEREOF, the parties have executed this Real Estate Purchase Agreement as of the Effective Date. ______________________________ _____________________________ Seller’s Name Buyer’s Name ______________________________ _____________________________ Seller’s Signature Buyer’s Signature ______________________________ _____________________________ Date Date
NOTARY ACKNOWLEDGEMENTState of Delaware, County of ______, On this _______ day of ________, 20__, before me, a notary public, the undersigned officer, personally appeared ________, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he/she executed the same for the purposes therein contained. In witness whereof, I hereunto set my hand and official seal. ______________________________ Notary Public [Notary Seal]
If you’re interested in purchasing property in Delaware, you’ll require a Contract For Sale Of Real Estate In Delaware. This should be complemented with a comprehensive legal document like the Contract For Deed Template Delaware to ensure a smooth transaction. Alternatively, if you’re looking into leasing property, a Contract For Rental Property Delaware might be more suitable for your needs.