This real estate sale contract, will provide peace of mind by clearly establishing the rights and responsibilities of all involved parties, ensuring a smooth transaction from beginning to end.
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. PROPERTYSeller agrees to sell and Buyer agrees to buy the property located at _____________, Idaho (the “Property”). The legal description of the Property is _____________.
2. PURCHASE PRICEThe purchase price for the Property is _____________ U.S. Dollars ($_____________), payable as follows:
3. DEPOSITUpon execution of this Agreement, Buyer shall deposit with _____________ as escrow agent, the sum of _____________ U.S. Dollars ($_____________), receipt of which is hereby acknowledged by Seller.
4. CLOSING DATEThe closing of the sale shall take place on or before _____________ (the “Closing Date”).
5. TITLE AND DEEDThe Seller shall provide a general warranty deed conveying the Property free and clear of all liens and encumbrances, except as otherwise provided in this Agreement.
6. INSPECTIONBuyer shall have the right to inspect the Property prior to the Closing Date. Any desired corrections or repairs shall be noted and agreed to by both parties.
7. SELLER REPRESENTATIONSSeller represents that the Property will be in the same condition on the Closing Date as on the date of this Agreement, except for ordinary wear and tear.
8. CONTINGENCIESThis Agreement is contingent upon the Buyer obtaining a written commitment for a mortgage loan, if needed, on or before _____________.
9. DEFAULTIn the event of a default by either party, the non-defaulting party may seek specific performance, or at its option, consider the Agreement terminated.
10. GOVERNING LAWThis Agreement shall be governed by and construed in accordance with the laws of the State of Idaho.
11. ENTIRE AGREEMENTThis Agreement constitutes the entire agreement between the parties and supersedes and cancels any prior agreements of the parties relating to the transactions contemplated hereby. IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. ______________________ Name of Seller ______________________ Name of Buyer
12. ACKNOWLEDGEMENT BY NOTARY PUBLICSTATE OF IDAHO, COUNTY OF ________________, On this day, personally appeared before me, ________________, the signer of the foregoing document, known to me to be the person who executed the foregoing document and acknowledged that he/she signed the same as his/her free act and deed. ______________________ Notary Public My Commission Expires: ________________
In addition to a Contract For Sale Of Real Estate In Idaho, other related legal documents such as a Contract For Deed Template and a Contract For Rental Property for Idaho can be found on our website. These documents can guide you in stipulating clear terms and conditions for property transactions, whether it’s a sale, deed or lease agreement in Idaho.