Free Real Estate Purchase Contract Template
REAL ESTATE PURCHASE CONTRACT
I. INTRODUCTION
This Real Estate Purchase Contract ("Contract") is made on January 2, 2050, by and between:
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Seller: [Your Company Name]
Address: [Your Company Address]
Email: [Your Company Email]
Contact Person: [Your Name] -
Buyer: IntelShop
Address: Philadelphia, PA 19102
Email: inquire@intelshop.mail
Contact Person: Maria Turner
II. PROPERTY DETAILS
The real property subject to this Contract is described as follows:
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Property Location: 3456 Chestnut Avenue, Philadelphia, PA 19102
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Property Type: Commercial Building
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Parcel ID: 789-101-112
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Area: 12,000 Square Feet
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Legal Description:
Lot 5, Block 8 of Chestnut Business Park, as recorded in the Deed Book 102, Page 234 of the Public Records of Philadelphia County, Pennsylvania.
The property is being sold as-is, and no warranties are provided except as specified within this Contract.
III. PURCHASE PRICE AND PAYMENT TERMS
Total Purchase Price:
The total price for the Property is $1,500,000.
Payment Structure:
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Deposit: A deposit of $150,000 is due upon execution of this Contract.
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Remaining Balance: The remaining balance of $1,350,000 is due at closing.
Payment Method: The total purchase price will be paid via wire transfer to Seller’s designated account, unless agreed upon otherwise in writing.
IV. CLOSING AND TRANSFER
Closing Date:
The closing of the transaction will take place no later than March 1, 2050, unless otherwise agreed to by both parties.
Responsibilities for Costs:
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Seller’s Costs: Preparation of deed, title search, recording fees.
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Buyer’s Costs: Title insurance, survey costs, closing agent fees, and any applicable transfer taxes.
Required Documents at Closing:
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A deed of bargain and sale transferring title from Seller to Buyer.
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A title report confirming clear ownership of the Property.
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Any additional documents required by Buyer’s lender, if applicable.
V. WARRANTIES AND REPRESENTATIONS
Seller’s Representations:
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Seller has full legal authority to sell the Property.
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The Property is free of liens, encumbrances, or claims, except as disclosed to Buyer.
Buyer’s Representations:
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Buyer has finished due diligence and is legally able to purchase the Property.
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Buyer agrees to comply with all applicable laws regarding the Property.
VI. DEFAULT AND REMEDIES
Seller’s Default:
If the Seller fails to perform under this Contract, the Buyer may:
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Terminate the Contract and recover the deposit, or
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Pursue legal remedies for breach of contract.
Buyer’s Default:
If the Buyer fails to perform under this Contract, the Seller may:
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Terminate the Contract and retain the deposit as liquidated damages, or
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Pursue legal action to enforce the Contract.
VII. GOVERNING LAW
This Contract shall be governed by and construed in accordance with the laws of the State of Pennsylvania.
VIII. SIGNATURES
IN WITNESS WHEREOF, the parties hereto have executed this Contract as of the date first written above.
For Seller: [Your Company Name]
By: [Your Name]
Title: Chief Executive Officer
Date: January 2, 2050
For Buyer: IntelShop
By: Maria Turner
Title: Chief Operating Officer
Date: January 2, 2050
For any questions or additional information, please reach out to [Your Name] at [Your Email] or [Your Company Email].
