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REAL ESTATE SALE CONTRACTThis Real Estate Sale Contract (“Contract”) is made on this —– day of —-, 20— by and between ______________(“Seller”) and _______________ (“Buyer”).
1. DESCRIPTION OF PROPERTY:Seller agrees to sell and convey to Buyer and Buyer agrees to purchase from Seller the Property located at: ________________________________ (“Property”) The legal description of the Property is as follows: ________________________________ (“Legal Description“)
2. PURCHASE PRICE:The total purchase price to be paid by Buyer to Seller for the Property is: ________________________________ (“Purchase Price”)
3. PAYMENT METHOD:Buyer shall pay the Purchase Price to Seller by means of: ________________________________ (“Payment Method”)
4. CLOSING:The closing of the sale shall occur on: _____________________ (“Closing Date“)
5. POSSESSION:Seller shall deliver possession of the Property to Buyer on the Closing Date.
6. TITLE:Seller shall provide Buyer with a good, marketable title to the Property by way of a general warranty deed.
7. INSPECTIONS:Buyer shall have the right to inspect the Property prior to Closing Date.
8. PRORATIONS:Taxes, rents, and all other expenses of the Property shall be prorated as of the Closing Date.
9. REPRESENTATIONS:Seller represents and warrants to Buyer that the Property is free and clear of all liens and encumbrances, except as otherwise provided in this Contract.
10. COMPLIANCE WITH HAWAII LAW:Seller shall comply with all applicable laws, rules, and regulations, including, but not limited to, the Hawaii Land Sales Full Disclosure Act, the Hawaii Condominium Property Act, and the Hawaii Prepaid Health Care Act.
11. INDEMNIFICATION:Seller shall indemnify and hold Buyer harmless from any and all claims, liabilities, costs, and expenses arising out of the ownership of the Property prior to the Closing Date.
12. ENTIRE AGREEMENT:This Contract contains the entire agreement of the parties and supersedes all prior or contemporaneous agreements, representations, or understandings of the parties.
13. GOVERNING LAW:This Contract shall be governed by and construed in accordance with the laws of the State of Hawaii.
SIGNATURES:______________________ ______________________ Seller’s Signature Date ______________________ ______________________ Buyer’s Signature Date This Contract is not intended to provide legal advice and it is recommended that the parties obtain legal advice prior to signing. This Contract is subject to approval by the parties’ legal counsel.
If you’re dealing with property transactions in Hawaii, the Contract For Sale Of Real Estate In Hawaii can be immensely helpful. It is equally important to familiarize oneself with the Contract For Deed Template Hawaii which outlines the terms for buying a property directly from the seller. For those looking to lease, the Contract For Rental Property Hawaii can be an excellent resource and guide.