Here, you can access an easy-to-follow and legally adherent agreement, specifically tailored to the intricacies of property transactions within Michigan. This contract facilitates the purchase and sale of real estate between a buyer and seller, serving as a critical legal document in any property transaction.
You can conveniently download, edit, and adjust the terms and conditions in line with your unique needs. The contract covers all necessary details from buyer-seller agreement to deed of sale. Brace up for a seamless property purchase experience in Michigan!
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 is located at ___, in the city of ___, county of ___, Michigan, and legally described as (the “Property”): ___
2. PURCHASE PRICE AND TERMSThe total purchase price for the Property is ___ dollars ($___). The Buyer shall pay ___ dollars ($___) as an earnest deposit, which shall be applied to the purchase price at closing.
3. CLOSINGClosing shall take place on ___ or at such other date mutually agreed upon by the parties. At closing, the Seller will convey good and marketable title to the Property by warranty deed, subject to normal utility easements, restrictions, and zoning laws.
4. INSPECTIONThe Buyer shall have the right to inspect the Property within ___ days from the Effective Date of this Agreement.
5. MICHIGAN DISCLOSURE LAWSIn compliance with Michigan’s Seller Disclosure Act, the Seller has provided the Buyer with a Seller’s Disclosure Statement disclosing all known material facts regarding the Property.
6. TAXES AND ASSESSMENTSAll taxes and assessments due and payable after the closing date shall be the responsibility of the Buyer.
7. DEFAULTIn the event of default by the Buyer, the Seller may, at their option, retain the earnest deposit as liquidated damages. In the event of default by the Seller, the Buyer may seek specific performance or the return of the earnest deposit.
8. GOVERNING LAWThis Agreement shall be governed by the laws of the State of Michigan.
9. 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.
SIGNATURESThis Agreement is executed by the parties: Seller: ___ Date: ___ Buyer: ___ Date: ___ This Agreement is not intended to provide legal advice and it is recommended that the parties seek independent legal counsel before signing this Agreement.
If you’re looking for more specific real estate contracts within Michigan, you might also be interested in the Contract For Deed Template or the Contract For Rental Property. Both of these can provide additional details and specifications for your real estate transactions.