Conveyancing Contract
Conveyancing Contract
This Conveyancing Contract ("Contract") is entered into on [Date], between [Your Name], hereinafter referred to as the "Seller," and [Buyer's Name], hereinafter referred to as the "Buyer," collectively referred to as the "Parties."
1. Parties Involved
Seller:
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[Your Name]
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[Your Company Name]
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[Your Company Address]
Buyer:
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[Buyer's Name]
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[Buyer's Address]
2. Property
The property subject to this Contract is located at [123 Main Street, Anytown, USA], including all fixtures, improvements, and appurtenances attached thereto, hereinafter referred to as the "Property."
3. Purchase Price
The total purchase price for the Property is agreed upon as [$300,000] dollars ($300,000), payable as follows:
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Deposit: [$30,000] dollars ($30,000) to be paid by the Buyer upon signing this Contract.
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Balance: The remaining balance of [$270,000] dollars ($270,000) is to be paid by the Buyer to the Seller at settlement.
4. Settlement
The settlement date shall be on or before [Date] unless otherwise agreed upon in writing by both Parties. The settlement shall take place at a mutually agreed location, during normal business hours.
5. Special Conditions
The following special conditions are agreed upon by both Parties:
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The Buyer shall have 30 days from the date of this Contract to conduct inspections and investigations of the Property, and any issues discovered shall be negotiated between the Buyer and Seller for resolution.
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The Seller agrees to provide a clear title to the Property, free from any liens or encumbrances, at the time of settlement.
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The Buyer reserves the right to terminate this Contract within 10 days if financing cannot be secured on terms acceptable to the Buyer.
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Both Parties agree to adhere to all local zoning regulations and ordinances concerning the use and development of the Property.
6. Title
The Seller warrants that they have good and marketable title to the Property, free and clear of all liens, encumbrances, and defects in title. The Seller shall provide the Buyer with a clear title upon settlement.
7. Risk of Loss
The party responsible for any loss or damage that may occur to the Property will shift from the Seller to the Buyer once the transaction, or settlement, has been completed. This means that after the conclusion of the settlement, the Seller will no longer bear any risks associated with the Property, as these will be taken up by the Buyer.
8. Notice
Any notice or communication required or permitted under this Contract shall be in writing and shall be deemed duly given if delivered personally or sent by registered mail, email, or any other method agreed upon by the Parties.
9. Governing Law
The principles and regulations stated in this contract will be supervised and interpreted by the laws of the specified state, that is [State]. Also, it's important to note that this contract will remain unaffected by the principles of conflict of laws about this jurisdiction.
10. Entire Agreement
This Contract constitutes the entire agreement between the Parties concerning the subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, whether oral or written.
IN WITNESS WHEREOF, the Parties have executed this Contract as of the date first above written.
[YOUR NAME]
[DATE SIGNED]
[BUYER'S NAME]
[DATE SIGNED]
