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PROPERTY SALE AGREEMENT

This Property Sale Agreement ("Agreement") is entered into on [Date] between:

SELLER: [Seller Name], ID Number: [ID Number], residing at [Seller Address] ("Seller")

BUYER: [Buyer Name], ID Number: [ID Number], residing at [Buyer Address] ("Buyer")

ARTICLE 1: PROPERTY DESCRIPTION

Seller agrees to sell and Buyer agrees to purchase the following real property:

Property Address: [Full Property Address]

Legal Description: Lot [Lot Number], Block [Block Number], [Subdivision Name], recorded in [County/Recording Office]

Land Area: Approximately [Area] square [meters/feet]

Property Type (check one):

☐ Single-family residence

☐ Condominium

☐ Multi-family property

☐ Vacant land

☐ Commercial property

☐ Other: [Specify]

ARTICLE 2: PURCHASE PRICE AND PAYMENT

2.1 Purchase Price. The total purchase price for the property is [Amount] ([Amount in Words]).

2.2 Earnest Money Deposit. Buyer shall deposit [Deposit Amount] with [Escrow Agent/Title Company] within [Number] days of executing this Agreement. The deposit shall be applied toward the purchase price at closing.

2.3 Payment Method. The purchase price shall be paid as follows:

☐ All Cash: Full payment at closing

☐ Financed:

  • Down Payment: [Amount]
  • Loan Amount: [Amount]
  • Loan Type: [Conventional/FHA/VA/Other]

2.4 Financing Contingency. This Agreement is contingent upon Buyer obtaining financing in the amount of [Loan Amount] at an interest rate not exceeding [Rate]% per annum by [Date]. If financing cannot be obtained, Buyer may terminate and receive full refund of deposit.

ARTICLE 3: TITLE AND DEED

3.1 Title. Seller shall convey marketable and insurable title to the property, free and clear of all liens, encumbrances, and defects, except:

  • Zoning regulations and building codes
  • Easements of record
  • CC&Rs (Covenants, Conditions & Restrictions)
  • Other: [Specify Permitted Exceptions]

3.2 Deed Type. Seller shall execute and deliver a [Warranty Deed/Quitclaim Deed/Special Warranty Deed] at closing.

3.3 Title Insurance. Buyer shall obtain an owner's title insurance policy in the amount of the purchase price. Cost shall be paid by [Buyer/Seller/Split].

ARTICLE 4: INSPECTIONS AND DUE DILIGENCE

4.1 Inspection Period. Buyer shall have [Number] days from the date of this Agreement to conduct inspections of the property.

4.2 Types of Inspections. Buyer may conduct, at Buyer's expense:

  • General home inspection
  • Structural inspection
  • Pest/termite inspection
  • Environmental assessment
  • Survey
  • Other: [Specify]

4.3 Seller's Cooperation. Seller shall provide reasonable access to the property for all inspections.

4.4 Buyer's Options. If inspections reveal unsatisfactory conditions, Buyer may:

  • Accept property as-is
  • Request repairs from Seller
  • Request price reduction
  • Terminate Agreement and receive full refund of deposit

ARTICLE 5: SELLER'S DISCLOSURES

5.1 Property Disclosure. Seller has provided a Property Disclosure Statement disclosing all known material defects and conditions affecting the property.

5.2 Lead-Based Paint. For properties built before 1978, Seller has provided required lead-based paint disclosures and Buyer has received the EPA pamphlet.

5.3 Other Disclosures. Seller discloses the following known issues: [List Known Issues or "None"]

ARTICLE 6: PROPERTY CONDITION

6.1 Maintenance. Between execution of this Agreement and closing, Seller shall maintain the property in its current condition, ordinary wear and tear excepted.

6.2 Included Items. The following items are included in the sale:

  • All fixtures permanently attached to the property
  • [List Specific Included Items: appliances, window treatments, etc.]

6.3 Excluded Items. The following items are excluded from the sale: [List Excluded Items]

6.4 Damage Before Closing. If the property is damaged by fire, flood, or other casualty before closing, Buyer may terminate this Agreement or require Seller to repair or provide credit.

ARTICLE 7: CLOSING

7.1 Closing Date. Closing shall occur on or before [Closing Date] at [Location].

7.2 Possession. Possession of the property shall be delivered to Buyer at closing unless otherwise specified: [Specify if Different]

7.3 Closing Costs. Buyer and Seller shall pay closing costs as follows:

Buyer pays: Loan fees, appraisal, inspection, lender's title insurance, recording fees for deed and mortgage, [Other]

Seller pays: Real estate commission, owner's title insurance, transfer taxes, payoff of existing loans, [Other]

7.4 Prorations. Property taxes, HOA fees, utilities, and other expenses shall be prorated as of the closing date.

7.5 Final Walk-Through. Buyer may conduct a final walk-through inspection within [Number] hours before closing to verify property condition.

ARTICLE 8: DEFAULT AND REMEDIES

8.1 Buyer Default. If Buyer defaults, Seller may retain the earnest money deposit as liquidated damages and/or pursue specific performance or other legal remedies.

8.2 Seller Default. If Seller defaults, Buyer may pursue specific performance, receive return of deposit plus expenses, or pursue other legal remedies.

ARTICLE 9: GENERAL PROVISIONS

9.1 Entire Agreement. This Agreement constitutes the entire agreement and supersedes all prior discussions and agreements.

9.2 Amendments. This Agreement may be amended only by written instrument signed by both parties.

9.3 Governing Law. This Agreement shall be governed by the laws of [State/Country].

9.4 Assignment. Buyer may not assign this Agreement without Seller's written consent.

9.5 Time is of the Essence. Time is of the essence in this Agreement. All deadlines must be met or extended by mutual written agreement.

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

SELLER:

Signature: _________________________

Name: [Seller Name]

Date: _________________________



BUYER:

Signature: _________________________

Name: [Buyer Name]

Date: _________________________