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    Agreement For Purchase & Sale of Real Estate (Subject To Transaction)

    Uploaded by

    Kapil Karoliya
    This agreement is for the purchase of a property located in Bexar County, Texas. The buyer will pay the purchase price of $________ through a $________ earnest deposit, $________ cash down payment, and taking title subject to existing first and second trust deed notes totaling $________. The buyer will also provide a promissory note for $________. Closing will occur on or around ___________ with responsibilities for costs to be shared equally. The seller will surrender possession at closing or the buyer will withhold $________ from proceeds as a security deposit.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Agreement For Purchase & Sale of Real Estate (Subject To Transaction)

    Uploaded by

    Kapil Karoliya
    386 views1 page
    This agreement is for the purchase of a property located in Bexar County, Texas. The buyer will pay the purchase price of $________ through a $________ earnest deposit, $________ cash down payment, and taking title subject to existing first and second trust deed notes totaling $________. The buyer will also provide a promissory note for $________. Closing will occur on or around ___________ with responsibilities for costs to be shared equally. The seller will surrender possession at closing or the buyer will withhold $________ from proceeds as a security deposit.

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    Subject+To+Contract+2019

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    © © All Rights Reserved

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    This agreement is for the purchase of a property located in Bexar County, Texas. The buyer will pay the purchase price of $________ through a $________ earnest deposit, $________ cash down payment, and taking title subject to existing first and second trust deed notes totaling $________. The buyer will also provide a promissory note for $________. Closing will occur on or around ___________ with responsibilities for costs to be shared equally. The seller will surrender possession at closing or the buyer will withhold $________ from proceeds as a security deposit.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    386 views1 page

    Agreement For Purchase & Sale of Real Estate (Subject To Transaction)

    Uploaded by

    Kapil Karoliya
    This agreement is for the purchase of a property located in Bexar County, Texas. The buyer will pay the purchase price of $________ through a $________ earnest deposit, $________ cash down payment, and taking title subject to existing first and second trust deed notes totaling $________. The buyer will also provide a promissory note for $________. Closing will occur on or around ___________ with responsibilities for costs to be shared equally. The seller will surrender possession at closing or the buyer will withhold $________ from proceeds as a security deposit.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    AGREEMENT FOR PURCHASE & SALE OF REAL ESTATE

    (Subject to Transaction)
    AGREEMENT dated this ____ day of ________________ 20___, by and between __________________________________________
    hereinafter "Seller", whose address is _________________________________________________________________________, and
    ______________________________________________________ hereinafter "Buyer" (or its assignee or nominee) whose address is
    ___________________________________________________________________________________________________________.

    1. THE PROPERTY. The Seller agrees to sell and Buyer agrees to buy the following property, located in the Bexar County, State of Texas,
    Lot ____, Block ____, CB/NCB __________ commonly known as ______________________________________________________.
    The sale shall also include all windows shades, blinds, screens, shutters, electric and plumbing fixtures and ____________________
    __________________________________________________________________________________________________________.

    2. PURCHASE PRICE. Buyer to pay the purchase price as follows (check all that applies):

    EARNEST DEPOSIT (Payable to the Law Firm, Trust Account) ……..……….……...........…… $___________________

    CASH DOWN PAYMENT due at closing in the amount …………………...……………..........…… $___________________

    TAKE TITLE SUBJECT TO AN EXISTING FIRST TRUST DEED NOTE


    held by ________________________________ with an approximate unpaid amount of ..........….. $___________________
    payable $______________ monthly until paid, including interest not exceeding ____%.

    TAKE TITLE SUBJECT TO AN EXISTING SECOND TRUST DEED NOTE


    held by ______________________ with an approximate unpaid amount of ………..……………..... $___________________
    payable $______________ monthly until paid, including interest not exceeding ____%,
    A PROMISSORY NOTE in the principal amount of ..................................................................... $___________________
    For the Terms of the Note, see paragraph 10 below.

    TOTAL PURCHASE PRICE IS THE AMOUNT OF ………..……………………………….………….. $___________________

    3. FINANCING. Buyer will be taking the property subject to deed(s) of trust existing on the property and the underlying existing loans
    and is not expressly assuming responsibility through a formal assumption of said loans. Commencing on _____________________,
    20____, the Buyer shall pay all monthly obligations on the underlying loans and property taxes, assessments, insurance, and any
    other expenses related to the property.
    If the actual loan balance of said loan is less than as stated herein, the purchase price shall be reduced to reflect the difference; if the
    actual loan balance is more than as stated herein, then Buyer’s required cash payment shall be reduced accordingly. Seller agrees to
    waive any remaining balance of tax, MIP and insurance escrows, if any, held by the lender(s).

    4. CLOSING. Closing will be held on or about ________________________, 20 ______, at a time and place at the ________________

    _____________________________________________

    Responsible for Closing Cost Seller Buyer Shared Between Parties Equally.

    The following Items will be prorated at closing: Homeowner's association dues, Other _________________________________
    The Law Firm will not provide Title Insurance but will perform a title and tax search to determine what if any liens are affecting Title.
    Title Insurance companies will not provide Title Insurance when the underlying mortgage is not paid off.

    5. POSSESION. Seller shall surrender possession to the property on day of closing.


    . In the event possession is not delivered at closing, buyer shall withhold proceeds from the sale in the amount of
    $ _________________ as security deposit (see attached Holdover Occupancy Agreement).

    6. ADDITIONAL PROVISIONS.
    • Seller is aware that this loan will not be satisfied in full at closing and may continue to appear on Seller’s credit file. Seller will provide Buyer
    with loan payment booklets and written permission to contact the holders of any debt secured by the property. At closing, Seller to execute a
    Limited Power of Attorney pertaining to the subject property, a Deed to transfer title, and sign a 3-page Disclosure.
    • Both Seller and Buyer acknowledge that the deed(s) of trust securing the property stated above may contain a “due on sale” provision
    giving the lender an option to call the loan immediately payable if all or any part of the Property is sold or transferred without satisfying
    the said loans.
    • __________________________________________________________________________________________________________

    7. DEFAULT BY BUYER. If Buyer fails to perform the agreements of this contract within the time set forth herein, Seller may retain, as
    liquidated damages and not as a penalty, all of the earnest money deposit specified in paragraph 2 above.

    8. DEFAULT BY SELLER. If Seller fails to perform any of the agreements of this contract, Buyer shall be entitled to $5,000 for
    damages resulting from the breach of contract, or the Buyer may bring an action for specific performance.

    9. OFFER. This is an offer to purchase the Property on the above terms and conditions. Unless this offer is signed by Seller and
    personally received by Buyer, by ___________, at ___ AM/PM, the offer shall be deemed revoked and the deposit shall be returned.

    10. OTHER TERMS: ___________________________________________________________________________________________

    Buyer(s): ____________________________________________________, Date: ________________________ 20_____.

    Email: ___________________________________________ Phone #(s): ______________________________________

    Seller(s): ____________________________________________________, Date: ________________________ 20_____.

    Email: ___________________________________________ Phone #(s): ______________________________________

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