Free Property Purchase Contract Template

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Free Property Purchase Contract Template

PROPERTY PURCHASE CONTRACT

I. PARTIES AND INTRODUCTION

This Property Purchase Contract (the "Contract") is entered into as of January 2, 2050, by and between the following parties:

Seller:

[Your Company Name]
Principal Office: [Your Company Address]
Representative: [Your Name]
Email: [Your Company Email]

Buyer:

ViGlobe
Principal Office: Atlanta, GA 30301
Representative: Trace Durgan
Email: inquire@viglobe.mail

Together, the "Parties" agree to the terms below for the sale and transfer of real property.

II. PROPERTY DETAILS

The Property being sold under this Contract is located at 1125 Maple Drive, Atlanta, GA 30301.

Property Information:

  • Property Type: Residential Land

  • Parcel ID: 334-455-667

  • Size: 5 Acres

  • Legal Description: Lot 1, Block 2 of Maple Heights Subdivision, recorded in Fulton County, GA, Deed Book 45, Page 33.

III. AGREED PURCHASE PRICE AND PAYMENT TERMS

  1. Purchase Price: The total price agreed for the Property is $500,000.

  2. Payment Breakdown:

    • Deposit: $50,000 due upon execution of the Contract.

    • Remaining Balance: $450,000 due at closing.

Payment Method: Payment will be made via wire transfer to Seller’s designated account.

IV. CLOSING PROCEDURE

1. Closing Date

The closing will occur on or before March 15, 2050, unless otherwise mutually agreed upon in writing by both Parties.

2. Allocation of Closing Costs

  • Seller’s Costs: Deed preparation, title search, recording fees.

  • Buyer’s Costs: Title insurance, survey fees, closing agent fees, transfer taxes.

3. Documents to be Provided at Closing

  • Warranty deed transferring title from Seller to Buyer.

  • Title report showing clear ownership of the Property.

  • Additional documents required by Buyer’s financial institution, if applicable.

V. WARRANTIES AND REPRESENTATIONS

Seller’s Warranties:

  • Seller is the sole owner of the Property and has the authority to sell it.

  • The Property is free from any encumbrances, liens, or claims, except as disclosed.

Buyer’s Warranties:

  • Buyer has completed all necessary due diligence and has the legal authority to proceed with the purchase.

VI. DEFAULT AND REMEDIES

  1. Seller’s Default: If the Seller fails to fulfill obligations, the Buyer may:

    • Terminate the Contract and recover the deposit, or

    • Enforce the Contract through legal action.

  2. Buyer’s Default: If the Buyer defaults, the Seller may:

    • Terminate the Contract and retain the deposit as liquidated damages, or

    • Seek enforcement through legal means.

VII. GOVERNING LAW

This Contract is governed by the laws of the State of Georgia and will be enforced according to its provisions.

VIII. SIGNATURES

For Seller: [Your Company Name]

By: [Your Name]
Title: Chief Financial Officer
Date: January 2, 2050

For Buyer: ViGlobe

By: Trace Durgan
Title: President & Chief Executive Officer
Date: January 2, 2050

For any inquiries or further details, please contact [Your Name] at [Your Email] or [Your Company Email].

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