Free Simple Land Purchase Agreement Template

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Free Simple Land Purchase Agreement Template

SIMPLE LAND PURCHASE AGREEMENT

I. PARTIES TO THE AGREEMENT

This Simple Land Purchase Agreement (the "Agreement") is made and entered into on May 20, 2050, by and between:

Seller: [Your Company Name]
Address: [Your Company Address]
Contact Person: [Your Name]

Buyer: BrandKat
Address: Austin, TX 73301
Contact Person: Drake Feeney

II. PROPERTY DESCRIPTION

The property to be purchased under this Agreement is described as follows:

  • Property Address: 546 Heritage Road, Austin, TX 73301

  • Type of Property: Vacant Land

  • Size: 2.5 Acres

  • Legal Description:
    Parcel ID: 098-123-456
    Lot 8, Block 2 of Heritage Heights Subdivision, Travis County, Texas

III. PURCHASE PRICE AND PAYMENT TERMS

  • Purchase Price: $450,000

  • Deposit: $45,000 (payable upon execution of this Agreement)

  • Balance: The remaining balance of $405,000 is due at closing.

  • Payment Method: The Buyer will pay the balance by wire transfer to the Seller’s designated account.

IV. CLOSING AND TRANSFER OF TITLE

The closing process is outlined as follows:

  • Closing Date: Closing will take place no later than July 10, 2050, unless both parties agree to an extension.

  • Closing Location: Closing will take place at a mutually agreed location, or via electronic closing if necessary.

  • Closing Costs:

    • Seller’s Costs: Preparation of deed, title search, recording fees.

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

  • Required Documents: A deed to transfer title and a title report confirming no encumbrances.

V. WARRANTIES AND REPRESENTATIONS

Both parties make the following representations:

  • Seller’s Warranties:

    1. Seller is the legal owner of the Property and has the right to sell it.

    2. The Property is free from liens or encumbrances, except as disclosed to Buyer.

  • Buyer’s Warranties:

    1. Buyer has finished due diligence, including title review and property inspection.

    2. Buyer has the financial means to complete the transaction.

VI. DEFAULT AND REMEDIES

  • Seller’s Default:
    If the Seller defaults, the Buyer may either:

    1. Terminate the Agreement and receive the deposit back, or

    2. Seek specific performance or other legal remedies.

  • Buyer’s Default:
    If the Buyer defaults, the Seller may either:

    1. Terminate the Agreement and retain the deposit as liquidated damages, or

    2. Seek specific performance or other legal remedies.

VII. GOVERNING LAW

This Agreement will be governed by and construed in accordance with the laws of the State of Texas.

VIII. SIGNATURES

By signing below, both parties agree to the terms and conditions outlined in this Agreement.

For Seller: [Your Company Name]

By: [Your Name]
Title: Chief Executive Officer
Date: May 20, 2050

For Buyer: BrandKat

By: Drake Feeney
Title: Chief Operations Officer
Date: May 20, 2050

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

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