REAL ESTATE PURCHASE AGREEMENTTHIS AGREEMENT, made this day of (Date), by and between (Seller’s Name), hereinafter known as “Seller”, and (Buyer’s Name), hereinafter known as “Buyer”.
1. PROPERTYSeller sells and agrees to convey to Buyer the real property situated in the county of (County), state of Kentucky, commonly known as (Property Address), together with all rights, privileges, and appurtenances thereto, including but not limited to all fixtures and improvements currently on the property.
2. PURCHASE PRICEThe total purchase price to be paid by Buyer to Seller for the Property is (Purchase Price) USD.
3. TERMS OF PAYMENTThe terms of payment are as follows: (Specify Payment Terms).
4. CLOSINGThe closing of the purchase and sale of the Property will take place on (Closing Date), or such earlier date as may be mutually agreed upon by the parties.
5. POSSESSIONSeller shall deliver possession of the Property to Buyer upon the closing of the sale, free and clear of all liens and encumbrances, except as otherwise provided in this Agreement.
6. CONDITION OF PROPERTYSeller represents that the Property is being sold in its “AS IS” condition, without any warranties or representations as to its condition or fitness for a particular purpose.
7. TITLESeller will convey good and marketable title to the Property to Buyer by a general warranty deed, subject to (Specify any Restrictions).
8. INSPECTIONSBuyer shall have the right to inspect the Property prior to closing. If the inspection reveals defects that are not acceptable to Buyer, Buyer may terminate this Agreement.
9. GOVERNING LAWThis Agreement shall be governed by and construed in accordance with the laws of the State of Kentucky.
10. ENTIRE AGREEMENTThis Agreement contains the entire agreement between the parties and supersedes all prior oral or written agreements, understandings or arrangements. IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. ________________________ ______________ (Seller’s Name) (Date) ________________________ ______________ (Buyer’s Name) (Date) **NOTICE: THIS IS A LEGALLY BINDING CONTRACT. IF NOT UNDERSTOOD, SEEK LEGAL ADVICE.
If you’re looking to handle real estate transactions in Kentucky, it’s crucial to understand the varying contracts involved. For instance, the Contract for Deed Template Kentucky provides an understanding of outlining terms for property payments, while the Contract for Rental Property Kentucky helps outline the terms of a property rental agreement. These are valuable resources alongside the Contract For Sale Of Real Estate In Kentucky.