Purchase and Sale Agreement - Maine
Page 1 of 5 P & S Buyers Initials____________ Sellers Initials _________________
PURCHASE AND SALE AGREEMENT
Date: Effective Date:
Effective Date is defined in Paragraph 23 of this Agreement
1. PARTIES: This Agreement is made between ______________________________________________
(hereinafter called "Buyer") and the Maine Department of Transportation (hereinafter called "Seller").
2. DESCRIPTION: Subject to the terms and conditions hereinafter set forth, Seller agrees to sell and Buyer agrees
to buy the property situated in municipality of ___________, County of _____________, State of Maine, which is
a part of property located at __________________________ as described in in a deed recorded at __________
County Registry of Deeds in Book _____, Page ___. If "part of” see Other Conditions (paragraph 26) for
explanation.
3. FIXTURES: The Buyer and Seller agree that, if applicable, all fixtures, including but not limited to existing
storm and screen windows, shades and/or blinds, shutters, curtain rods, built -in appliances heating
sources/systems including gas and/or kerosene-fired heaters and wood stoves, sump pump and electrical fixtures
are included with the sale except for the following:
Seller represents that all mechanical components of fixtures will be operational at the time of closing except: The
property is being sold “as is, where is”.
4. PERSONAL PROPERTY:
5. PURCHASE PRICE: For such conveyance Buyer is to pay the total purchase price of
$_____________________. The Buyer will deliver to the Seller’s agent, concurrent with this offer, a deposit of
earnest money in the amount of $___________________. If said deposit is not delivered simultaneously with this
offer, this offer shall be void and any attempted acceptance of this offer in reliance on the deposit being delivered
will not result in a binding contract. The remainder of the purchase price shall be paid by a certified or cashier’s
check upon delivery of the Deed. All payments shall be made payable to the “Treasurer, State of Maine”
This Purchase and Sale Agreement is subject to the following conditions:
6. EARNEST MONEY/ACCEPTANCE: Seller’s agent shall hold said earnest money and act as escrow agent until
closing. This offer shall be valid until 5:00 p.m. on the fifth business day after the minimum 2 week advertising
period has expired, or for 5 business days from the effective date of the offer. In the event of non-acceptance, this
earnest money shall be returned promptly to Buyer. In the event that the Agency is made a party to any lawsuit
by virtue of acting as escrow agent, Agency shall be entitled to recover reasonable attorney’s fees and costs which
shall be assessed as court costs in favor of the prevailing party.
7. TITLE AND CLOSING: A Governor’s Deed shall be delivered to Buyer and this transaction shall be closed and
Buyer shall pay the balance due and execute all necessary papers within 30 days of the time the deed has been
fully executed, unless otherwise agreed to in writing by both parties. Seller makes no representations or
warranties concerning title to the Premises. Buyer shall have 30 calendar days from the Effective Date of this
Agreement to conduct a title examination. If Buyer, in their sole discretion, is not satisfied with the results of such title
examination, then Buyer may elect, by giving written notice to Seller on or before the expiration of such 30 day period to
terminate this Agreement.
8. DEED: The property shall be conveyed by a Governor’s Deed without warranties or covenants of title.
9. POSSESSION, OCCUPANCY, AND CONDITION: Unless otherwise agreed to in writing, possession and
occupancy of premises, free of tenants and occupants, shall be given to Buyer immediately at closing. Said
premises shall then be broom clean, free of all possessions and debris, and in substantially the same condition as
at present, excepting reasonable use and wear. Buyer shall have the right to view the property within 24 hours
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