Free Land Purchase and Sale Agreement Format Template
Land Purchase and Sale Agreement Format
This Land Purchase and Sale Agreement ("Agreement") is made and entered into as of [Insert Date], by and between:
Seller:
Name: ____________________
Address: ____________________
Phone Number: ____________________
Email: ____________________
Buyer:
Name: ____________________
Address: ____________________
Phone Number: ____________________
Email: ____________________
RECITALS
WHEREAS, Seller is the sole owner of the real property located at [Insert Property Address], more particularly described as [Insert Property Description] ("Property"); and
WHEREAS, Buyer desires to purchase the Property and Seller desires to sell the Property on the terms set forth herein.
1. PURCHASE PRICE
The total purchase price for the Property is [Insert Purchase Price] ("Purchase Price"). The Purchase Price shall be paid by the Buyer to the Seller as follows:
-
Initial Deposit: [Insert Amount] upon execution of this Agreement.
-
Balance Payment: The remaining balance of [Insert Amount] shall be paid on or before [Insert Date].
2. CLOSING
The closing of the sale of the Property ("Closing") shall take place on or before [Insert Closing Date] at a location mutually agreed upon by the parties. At Closing, the following shall occur:
-
The Buyer shall pay the remaining balance of the Purchase Price.
-
The Seller shall execute a deed of bargain and sale transferring title to the Property to the Buyer.
3. TITLE AND POSSESSION
-
Title: The Seller warrants that the Property is free and clear of all liens and encumbrances except for those disclosed to the Buyer prior to the execution of this Agreement.
-
Possession: Possession of the Property shall be delivered to the Buyer on the Closing Date.
4. REPRESENTATIONS AND WARRANTIES
-
Seller's Representations:
The Seller represents that the Property is not subject to any legal disputes, claims, or actions that would affect the transfer of title. -
Buyer's Representations:
The Buyer represents that they have conducted a satisfactory inspection of the Property and are satisfied with its condition.
5. DEFAULT
-
Seller's Default: If the Seller fails to perform under this Agreement, the Buyer may terminate the Agreement and receive a refund of any deposit paid, or pursue other legal remedies.
-
Buyer's Default: If the Buyer fails to perform under this Agreement, the Seller may retain the deposit as liquidated damages or pursue other legal remedies.
6. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the state of [Insert State].
7. ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the parties. No oral statements or prior written material not specifically incorporated herein shall be of any force and effect.
8. AMENDMENTS
Any amendments to this Agreement must be made in writing and signed by both parties.
SIGNATURES
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.
Seller
Name: ____________________
Signature: ____________________
Date: ____________________
Buyer
Name: ____________________
Signature: ____________________
Date: ____________________
