Free Real Property Purchase Agreement Template

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Free Real Property Purchase Agreement Template

REAL PROPERTY PURCHASE AGREEMENT

THIS AGREEMENT, made and entered into as of April 15, 2050, by and between:

SELLER: [Your Company Name]
Address: [Your Company Address]
Email: [Your Company Email]

BUYER: StronkCo
Address: Minneapolis, MN 55401
Email: inquire@stronkco.mail

RECITALS

WHEREAS, the Seller agrees to sell and the Buyer agrees to purchase the real property located at 478 Pioneer Lane, Minneapolis, MN 55401, according to the terms of this Agreement;

NOW, THEREFORE, for and in consideration of the mutual promises and covenants hereinafter set forth, the parties agree as follows:

1. DESCRIPTION OF THE PROPERTY

  • Address: 478 Pioneer Lane, Minneapolis, MN 55401

  • Type of Property: Commercial Property

  • Size: 12,000 Square Feet

  • Parcel Number: 123-456-789

  • Legal Description: Lot 2, Block 3, Pioneer Subdivision, Hennepin County, Minnesota.

2. PURCHASE PRICE

  • Total Purchase Price: $2,500,000

  • Deposit: $250,000 (Paid upon execution of this Agreement)

  • Remaining Balance: $2,250,000 (Payable at Closing)

The Buyer shall transfer the remaining balance to the Seller by wire transfer at the time of closing, unless otherwise agreed by both parties.

3. CLOSING

Closing Date: No later than July 10, 2050.

Closing Location: At a mutually agreed upon location or via electronic closing.

Closing Costs

  • Seller's Responsibilities: Seller will pay the cost of deed preparation, title search, and recording fees.

  • Buyer's Responsibilities: Buyer is responsible for title insurance, survey costs, closing agent fees, and applicable transfer taxes.

Documents Required for Closing:

  1. A deed transferring title from Seller to Buyer.

  2. Title report confirming the Property is free from encumbrances.

  3. Any additional documents required by the Buyer’s lender (if applicable).

4. WARRANTIES

Seller’s Warranties:

  1. Seller warrants that they have clear title to the Property.

  2. The Property is free from any undisclosed encumbrances.

Buyer’s Warranties:

  1. The Buyer has examined all documents and is satisfied with the Property's condition.

  2. Buyer is financially able to complete the purchase.

5. DEFAULT AND REMEDIES

In the event of default by either party:

Seller’s Default:

If Seller fails to meet the terms of this Agreement, Buyer may:

  • Terminate the Agreement and recover the deposit, or

  • Seek specific performance.

Buyer’s Default:

If Buyer fails to meet the terms of this Agreement, Seller may:

  • Terminate the Agreement and retain the deposit, or

  • Seek specific performance.

6. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota.

7. SIGNATURES

For Seller: [Your Company Name]

By: [Your Name]
Title: President
Date: April 15, 2050

For Buyer: StronkCo

By: Elvie Block
Title: Chief Operations Officer
Date: April 15, 2050

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

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