Sales Agreement
SALES AGREEMENT
This Sales Agreement ("Agreement") is entered into this 1st day of January 2050 (the "Effective Date"), by and between Decked Real Estate, a duly recognized and licensed real estate developer with a principal business address at 123 Main Street, Apt 4B, Springfield, IL 62701 ("Seller"), and Ollie Ray, an individual residing at 987 Harmony Street, Unit 88, Melody Meadows, IL 54321 ("Buyer") (collectively referred to as the "Parties").
1. DESCRIPTION OF THE PROPERTY
The Seller agrees to sell and the Buyer agrees to buy a residential real estate property located at 210 Blissful Boulevard, Apt 77, Bliss Blossom, IL 56789. The property consists of a brand-new house and lot (the "Property"). The Property, its legal description, layout, and specifics of the structure are more extensively described in Annex A, attached hereto and made an integral part hereof.
2. PURCHASE PRICE
The Purchase Price for the Property shall be the total amount of $75,000 USD. The payment shall be made according to the following terms:
-
Down Payment: An initial amount of $30,000 USD, due upon execution of this Agreement.
-
Remaining Balance: The remaining balance, amounting to $45,000 USD, shall be paid upon completion of the necessary ownership transfer documents.
3. REPRESENTATIONS AND WARRANTIES
Both Parties represent and warrant that they have the full power and authority to sell and purchase the Property, respectively. The Seller guarantees that the Property is free from any liens and encumbrances and that it will perform all actions necessary to ensure the transfer of clear and marketable title to the Property to the Buyer.
4. RISK OF LOSS
The Risk of loss or damage to the Property shall pass to the Buyer at closing. Prior to the closing, any loss or damage to the Property, unless caused by the negligence of the Buyer, will remain the responsibility of the Seller.
5. CLOSING
Closing shall occur on or before 1st March 2050, unless otherwise agreed in writing by both Parties. At closing, the Seller shall deliver to the Buyer the duly executed and notarized Deed of Sale and other necessary documents for the transfer of ownership of the Property.
6. GOVERNING LAW AND VENUE
This Agreement shall be governed by and construed in accordance with the laws of the state of Delaware. Any disputes arising from this Agreement shall be resolved in the appropriate courts of Delaware.
7. SIGNATURES
This Agreement is executed by the duly authorized representatives of the Seller and the Buyer, binding their respective Parties to the terms and conditions outlined herein.
______________________________
Decked Real Estate (Seller)
Date: January 1, 2050
______________________________
Ollie Ray (Buyer)
Date: January 1, 2050
