Luxury Listings Real Estate Purchase Agreement
Luxury Listings Real Estate Purchase Agreement
Luxury Listings Real Estate Purchase Agreement
I. THE PARTIES. This Real Estate Purchase Agreement made on 18th January,
2024 between:
Buyer: ZAYN MALIK with a home address of no. 11 Louisa lane, 1 Sloane
Street who agrees to buy, and:
Buyer and Seller are each referred to herein as a “Party” and, collectively, as
the "Parties."
The described real property in Section II and personal property in Section III
shall be collectively known as the “Property.”
IV. EARNEST MONEY. After acceptance by all Parties, the Buyer agrees to make
a payment in the amount of $3.6 Million Dollars as consideration by 18th
January, 2024, at 11 ✘ AM PM The Earnest Money shall be applied to the
Purchase Price at Closing and subject to the Buyer’s ability to perform under
the terms of this Agreement.
V. PURCHASE PRICE & TERMS. The Buyer agrees to purchase the Property by
payment of $3.6 Million US Dollars as follows: (check one)
✘ - All Cash Offer. No loan or financing of any kind is required in order to
*purchase the Property. Buyer shall provide Seller written third (3rd) party
documentation verifying sufficient funds to close no later than. Seller shall
have three (3) business days after the receipt of such documentation to
notify Buyer, in writing, if the verification of funds is not acceptable. If
Buyer fails to provide such documentation, or if Seller finds such
verification of funds is not acceptable, Seller may terminate this
Agreement. Failure of Seller to provide Buyer written notice of objection to
such verification shall be considered acceptance of verification of funds.
VII. FUNDS AT CLOSING. Buyer and Seller agree that before the recording can
take place, funds provided shall be in one (1) of the following forms: cash,
interbank electronic transfer, Cash App or Crypto Funds on a financial
institution located in the state of Governing Law, or any above combination that
permits the Seller to convert the deposit to cash no later than the next business
day.
VIII. CLOSING DATE. This transaction shall close on 23th January, 2024 or earlier
at the office of a title company to be agreed upon by the Parties. Any
extension of the Closing must be agreed upon, in writing, by Buyer and Seller.
IX. SURVEY. Buyer may obtain a survey of the Property before the Closing to
assure that there are no defects, encroachments, overlaps, boundary line or
acreage disputes, or other such matters, that would be disclosed by a survey
The cost of the survey shall be paid by the Buyer. Not later than 3 business
days prior to the Closing, Buyer shall notify Seller of any Survey Problems
which shall be deemed to be a defect in the title to the Property. Seller shall be
required to remedy such defects within 2 business days and prior to the
Closing.
X. MINERAL RIGHTS. It is agreed and understood that all rights under the soil,
including but not limited to water, gas, oil, and mineral rights shall be
transferred by the Seller to the Buyer at Closing.
XI. PROPERTY CONDITION. Seller agrees to maintain the Property in its current
condition, subject to ordinary wear and tear, from the time this Agreement
comes into effect until the Closing. Buyer recognizes that the Seller, along with
any licensed real estate agent(s) involved in this transaction, make no claims
as to the validity of any property disclosure information.
XIV. REQUIRED DOCUMENTS. Prior to the Closing, the Parties agree to authorize
all necessary documents, in good faith, in order to record the transaction under
the conditions required by the recorder, title company, lender, or any other
public or private entity.
XVI. SEX OFFENDERS. Section 2250 of Title 18, United States Code, makes it a
federal offense for sex offenders required to register pursuant to the Sex
Offender Registration and Notification Act (SORNA), to knowingly fail to register
or update a registration as required. State convicted sex offenders may also be
prosecuted under this statute if the sex offender knowingly fails to register or
update a registration as required, and engages in interstate travel, foreign
travel, or enters, leaves, or resides on an Indian reservation.
A sex offender who fails to properly register may face fines and up to ten (10)
years in prison. Furthermore, if a sex offender knowingly fails to update or
register as required and commits a violent federal crime, he or she may face up
to thirty (30) years in prison under this statute. The Buyer may seek more
information online by visiting https://www.nsopw.gov/.
XVII. TIME. Time is of the essence. All understandings between the Parties are
incorporated in this Agreement. Its terms are intended by the Parties as a final,
complete and exclusive expression of their Agreement with respect to its
subject matter and they may not be contradicted by evidence of any prior
agreement or contemporaneous oral agreement.
XVIII. BUYER’S DEFAULT. Seller’s remedies shall be limited to liquidated damages
in the amount of the Earnest Money set forth in Section IV. It is agreed that
such payments and things of value are liquidated damages and are Seller’s
sole and only remedy for Buyer’s failure to perform the obligations of this
Agreement. The Parties agree that Seller’s actual damages in the event of
Buyer’s default would be difficult to measure, and the amount of the liquidated
damages herein provided for is a reasonable estimate of such damages.
XIX. SELLER’S DEFAULT. Buyer may elect to treat this Agreement as cancelled, in
which case all Earnest Money paid by Buyer hereunder shall be returned and
Buyer may recover such damages as may be proper, or Buyer may elect to
treat this Agreement as being in full force and effect and Buyer shall have the
right to specific performance or damages, or both.
XXI. DISPUTE RESOLUTION. Buyer and Seller agree to mediate any dispute or
claim arising out of this Agreement, or in any resulting transaction, before
resorting to arbitration or court action.
a.) Mediation. If a dispute arises, between or among the Parties, and it is
not resolved prior to or after recording, the Parties shall first proceed in
good faith to submit the matter to mediation. Costs related to mediation
shall be mutually shared between or among the Parties. Unless
otherwise agreed in mediation, the Parties retain their rights to proceed
to arbitration or litigation.
b.) Arbitration. The Parties agree that any dispute or claim in law or equity
arising between them out of this Agreement or any resulting transaction,
which is not settled through mediation, shall be decided by neutral,
binding arbitration. The arbitrator is required to be a retired judge or
justice, or an attorney with at least five (5) years of residential real estate
law experience unless the Parties mutually agree to a different arbitrator.
Under arbitration, the Parties shall have the right to discovery in
accordance with Governing Law. Judgment upon the award of the
arbitrator(s) may be entered into any court having jurisdiction.
Enforcement of this Agreement to arbitrate shall be governed by the
Federal Arbitration Act.
c.) Exclusions. The following matters shall be excluded from the mediation
and arbitration: (i) a judicial or non-judicial foreclosure or other action or
proceeding to enforce a deed, mortgage or installment land sale contract
as defined in accordance with Governing Law; (ii) an unlawful detainer
action, forcible entry detainer, eviction action, or equivalent; (iii) the filing
or enforcement of a mechanic’s lien; and (iv) any matter that is within the
jurisdiction of a probate, small claims or bankruptcy court. The filing of a
court action to enable the recording of a notice of pending action, for
order of attachment, receivership, injunction, or other provisional
remedies, shall not constitute a waiver or violation of the mediation and
arbitration provisions of this Section.
XXIV. BINDING EFFECT. This Agreement shall be for the benefit of, and be binding
upon, the Parties, their heirs, successors, legal representatives, and assigns,
which therefore, constitutes the entire agreement between the Parties. No
modification of this Agreement shall be binding unless signed by both Buyer
and Seller.
XXV. SEVERABILITY. In the event any provision or part of this Agreement is found
to be invalid or unenforceable, only that particular provision or part so found,
and not the entire Agreement, will be inoperative.
XXVI. ACCEPTANCE. Seller warrants that Seller is the owner of the Property or has
the authority to execute this Agreement. Therefore, by the Seller’s
authorization below, he/she/they accepts the above offer and agrees to sell
the Property on the above terms and conditions and agrees to the agency
relationships in accordance with any agreement(s) made with licensed real
estate agent(s). Seller has read and acknowledges receipt of a copy of this
Agreement and authorizes any licensed real estate agent(s) to deliver a
signed copy to the Buyer.
Delivery may be in any of the following: (i) hand delivery; (ii) email under the
condition that the Party transmitting the email receives electronic confirmation
that the email was received to the intended recipient; and (iii) by facsimile to
the other Party or the other Party’s licensee, but only if the transmitting fax
machine prints a confirmation that the transmission was successful.
XXVII. LICENSED REAL ESTATE AGENT(S). If Buyer or Seller have hired the
services of licensed real estate agent(s) to perform representation on their
behalf, he/she/they shall be entitled to payment for their services as outlined
in their separate written agreement.
XXVIII. DISCLOSURES. It is acknowledged by the Parties that: (check one)
✘ - There are no attached addendums or disclosures to this Agreement.
- The following addendums or disclosures are attached to this
Agreement: (check all that apply)
- Lead-Based Paint Disclosure Form
XXX. EXECUTION.