Free Sample Vacant Land Purchase Agreement Template

SAMPLE VACANT LAND PURCHASE AGREEMENT

This Vacant Land Purchase Agreement ("Agreement") is made on September 10, 2050, by and between:

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

Buyer: GazeGuru
Address: Columbus, OH 43215
Contact Person: Jean Harris

The property subject to this Agreement is located at:

Property Address: 156 Horizon Drive, Columbus, OH 43215
Type of Property: Vacant Land
Size: 4.0 Acres
Legal Description:
Parcel ID: 763-890-123
Lot 6, Block 5, Horizon Ridge Subdivision, Franklin County, Ohio.

Purchase Price: The agreed total purchase price for the Property is $320,000.
Deposit: Buyer shall pay a deposit of $32,000 to Seller upon execution of this Agreement.
Remaining Balance: The remaining balance of $288,000 will be due at closing.
Payment Method: The remaining balance will be paid via wire transfer to Seller's account at closing.

Closing Date: The closing will take place on or before October 15, 2050, unless both parties agree in writing to extend the closing date.
Closing Location: The closing will take place at a location agreed upon by both parties or through electronic closing.
Seller's Responsibilities: Seller shall pay for deed preparation, title search, and recording fees.
Buyer's Responsibilities: Buyer will be responsible for title insurance, survey fees, transfer taxes, and any closing agent fees.
Required Documents:
- Deed transferring ownership of the Property.
- Title report confirming clear title to the Property.

Seller’s Warranties:
1. Seller is the lawful owner of the Property and has the right to sell the Property.
2. The Property is free from any liens, encumbrances, or legal claims, except as disclosed to the Buyer.
Buyer’s Warranties:
1. Buyer has completed due diligence, including reviewing the title and inspecting the Property.
2. Buyer has the financial means to complete the transaction.

Seller’s Default: If the Seller defaults, the Buyer may:
1. Terminate this Agreement and receive the deposit back, or
2. Pursue specific performance or other legal remedies.
Buyer’s Default: If the Buyer defaults, the Seller may:
1. Terminate this Agreement and retain the deposit as liquidated damages, or
2. Pursue specific performance or other legal remedies.

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

For Seller: [Your Company Name]

By: [Your Name]
Title: Chief Executive Officer
Date: September 10, 2050

For Buyer: GazeGuru

By: Jean Harris
Title: Chief Executive Officer
Date: September 10, 2050

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