HomeMy WebLinkAboutExecuted Sales Contract 112425REAL ESTATE CONTRACT
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l. B[IYER: ", -> t ----r/ff;-L- Paas
offers to uuy, su616tt Gfriilrortn [eiein, ttre rotto*ing
property
2. PROPERTYDESC ION ADDRESS:
,/Aao L
3. PURCHASE PRICE: The Buyer will pay $2b ? aee for
the property at closing. The down paym ent shall be $
with the balance subject to the following conditions:
a. Newloan:Conv. FHA VA
b. Loan Assumption: The Buyer's ability to assume existing
loan payable to
appro ximate amount of $currently payable at
approximately $per month, including
.----?fincipal, --- Irterest,-----€xi sting taxes, and
-----existing insurance. Payments on existing loan to be current
at closing.
c. Other:
FOR FINANCING: If applicable, Buyer agtees to make application for a n€w assumption within4.
_ days &om dde oflhis contract.
5. EARNEST MONEY: Buyer herewith tenders a check for
$2r*as eamest money, which shall apply on purchase
price or closing costs is this offer is accepted. This sum shall be
deposited by Agent and it ofter is not accepted or iftitlc requireinents
-20
in the
zue not fulfilled, it shall be promptly refunded to Buyer. If, after
acceptance, Buyer fails to fulfill his obligations, the earnest money shall
become liquidated damages, WHICH FACT SHALLNOT PRECL{JDE
SELLER OR AGENT FROM ASSERTING OTTMR LEGAL RIGHTS
WHICH THEYMAYHAVE BECAUSE OF SUCH BREACH.
6. COIwEYANCE: Conveyance shall be made to Buyer, or as directed
by Buyer by general warranty deed except it shall be subject to recorded
restrictions and easements, if any, which do not materially affect the
value of the property.
8. PRORATIONS: Taxes and special assessments due on or before
closing shall be paid by Seller. Any deposits on rental property are to
be transferred to Buyer at closing. Insurance, current general taxes and
special assessments, rental payments, and any interest on assumed loans
shall be prorated as of closing unless otherwise specified herein.
9. CLOSING: The closing date, which will be designated by Agent, is
estimated to be on orabout / - zs-'- }a3L .
10. POSSESSION: Possession shall be delivered to Buyer:
a
b
Upon closing.
After closing, but not later thanHays after closing. In
this event, Seller agrees to pay at closing $day
from closing to date possession is delivered and to leave this sum
with Agent to be disbursed to the parties entitle thereto on the date
possession is delivered.
ll. FIXTURES AND ATTACHED EQUIPMENT: Unless specifically
excluded hcrcifl, all fixtures and auached equipment, lf any, are
included in the purchase price. Such fixtures and attached equipment
shall include, but not be limited to the following: window air
7. ABSTRACT OR TITLE INSURANCE: The owner(s) of the above
property, hereinafter called Seller, shall fumish, at Seller's costs, a
complete abstract reflecting merchantable title satisfactory to Buyer's
attorney; however, Seller shall have an option to fumish Buyer, in place
of abstract, a policy of title insurance in the amount of the purchase
price, and submission of an abstract shall not constitute a waiver of this
option. If objections are made to title, Seller shall have a reasonable
time to meet tlte objections or to fumish title insurance.
conditioners, carpetirg, indoor and outdoor light fixtures, window and
door coverings, g&S or elecftic grills, awnings, mail boxes, gilage door
openers and remote units, water softeners, propane and butane tanks,
antennas and any other items bolted, nailed, screwed, buried or
otherwise attached to the real properly in a pennanent manner.
12. TERMITE AND PEST CONTROL REQUIREMENTS:
N
b. Purchase price to include fransfer of current termite and pest
contol policy issued by licensed operator.
c.Standard Letter of Clearance as approved by Arkansas State
Plant Board to be furnished at Seller's expense.
13. INSPECTIONS AND REPAIRS: Buyer certifies that Buyer has
inspected the property and is not relying upon any warranties,
representations or statements of Agent or Seller as to age or condition of
improvements, other than those specified herein. 13a and 13b do not
apply to new, previously unoccupied dwellings.
a.Buyer accepts the property in it's present condition, subject
only to the following:
U. The following iterns, if ay, shall be in rrcrmal working order at closing: dishwaskr, disposals, trash compactors,
ranges, exhaust fans, heating and air systems, plumbing system, electrical systern, and
Buyer shall have the righg at Buyer's expense, to inspect the above
items prior to closing. If any of the above items are fomd not to be in normal working order, Buyer may notifu Seller in
writing prior to closing. A-fter notice as provided herein, Seller agrees to pay the cost of repair of any such items up to
but noi exceeding $__---trfcosts of such repairs will exceed the above amoun! and Seller refrxes to
pay the additional cost, Buyer may accept the prope(y in it's condition at closing with credit on the purchase price in the
above amorm! or Buyer may &clare this contract trull and void. If Buyer does not give notice of defects in writing prior
to closing, all subsequent repairs shall be solely at Buyer's expense.
14. RISK OF LOSS: The risk of loss or damage to the property by fire or
other casualty occurring up to the time of closing is assumed by the
Seller.
15. EXPIRATION OF OFFER: This offer expfues if not accepted withzZodays from this date.
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16.ONS:
*
THIS IS ALEGALLYBINDING CONTRACT WHEN SIGNED BY
BOTH BWER AND SELLER, IF NOT UNDERSTOOD, SEEK
LEGALADWCE.
BUYE I
The above offer is accepted on ,/o- 3-a 20a{. lf
for any reason the earnest money provided for herein is forfeited by Buyer
under the provisions hereof seller shall retain
SELLER'S SIGNATURE