AGREEMENT TO PURCHASE REAL ESTATE

CONTRACT TO PURCHASE REAL ESTATE
The undersigned, _________________________________________________, and hereinafter
referred to as "SELLERS”, agree to sell and ________________________________________,
and hereinafter referred to as "PURCHASERS" agree to buy certain real estate known as
______________________________________________________. Said real estate shall
include all land and appurtenant rights, also all buildings, fixtures, heating, electrical and
plumbing fixtures and facilities, window shades, venetian blinds, awnings, curtain rods,
screens, storm windows, wall-to-wall carpeting, appliances, landscaping and shrubbery and
attached radio and/or television aerials, as maybe applicable, except _______________________
______________________________________________________________________________
______________________________________________________________________________
PURCHASERS agree to pay for said property the sum of ____________________________
DOLLARS ($____________), payable as follows:
a. $____________ Earnest money paid by PURCHASERS with the execution
of this contract, the receipt of which is acknowledged by
SELLERS; and
b. $____________ Downpayment at closing; and
c. $____________ Proceeds from a Mortgage to be obtained by PURCHASERS
This CONTRACT TO PURCHASE REAL ESTATE is contingent upon PURCHASERS
obtaining a mortgage commitment from a lending institution in the amount of $___________, or
in a lesser amount acceptable to PURCHASERS. The PURCHASERS agree to make loan
application within five (5) days of the date of this Agreement and to cooperate fully with such
lender’s requests for information and to otherwise use due diligence and good faith in an effort to
obtain financing. If no decision on PURCHASERS’ loan application is forthcoming within 20
days after the date of this Agreement, then PURCHASERS shall obtain an extension of this
contingency from SELLERS or remove said contingency. If SELLERS refuse to grant such
extension and PURCHASERS refuse to remove this contingency or if PURCHASERS’
financing application is denied, then this CONTRACT TO PURCHASE REAL ESTATE is
null and void and of no further force and effect and all Earnest Money, if any, heretofore paid to
SELLERS shall be returned to PURCHASERS.
This CONTRACT TO PURCHASE REAL ESTATE is contingent upon a general home
inspection of the premises, satisfactory to PURCHASERS, the type and extent of which shall be
at PURCHASERS’ discretion and expense. Provided, however, any such inspection shall be
completed within ________ of the date of this Agreement with the results thereof to be
communicated to SELLERS within _____ hours thereafter, or this contingency will be deemed
waived. PURCHASERS shall not unreasonably withhold their approval of said Inspection. In
the event said Inspection should disclose the necessity of repairs of a material nature affecting
the integrity and safety of the structure, and PURCHASERS refuse to waive said defects,
SELLERS shall be obligated to repair same at their own expense, or adjust the purchase price
accordingly, or cancel this Agreement with earnest monies to be returned to PURCHASERS.
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