Contract to Purchase Real Estate Form - Ohio

ADVERTISEMENT
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.
Page One of Three
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.
Page One of Three
SELLERS shall furnish a general warranty deed with release of dower, as applicable, and/or
fiduciary deed, if required, conveying to PURCHASERS a good and marketable fee simple
title to the property, free and clear of all liens and encumbrances
whatsoever
except
restrictions, reservations, conditions, covenants, and easements of record; such encroachments
as do not materially adversely affect the use or value of the premises; zoning ordinances, if any;
and current taxes and assessments, both general and special, which are a lien, but not yet
due and payable, and thereafter.
In the event a title defect appears thereby preventing
SELLERS from conveying the marketable title described herein, PURCHASERS shall have
the option of affording SELLERS thirty (30) days to cure said defect, or may declare this
CONTRACT TO PURCHASE REAL ESTATE null and void and thereby be entitled to the
return of all monies heretofore tendered.
SELLERS shall furnish to PURCHASERS an Owner’s Fee Policy of Title Insurance in the
amount of the purchase price. All title work to be ordered through Revere Title Agency.
Taxes and assessments shall be prorated as of the date of recording the deed for record based
upon the latest available tax duplicate. SELLERS shall pay directly all utility charges due up to
the date the deed is filed for record. The escrow agent herein is authorized to withhold
$__________ from SELLERS pending final water and sewer charges. Upon proof of payment,
the escrow agent shall release said funds to SELLERS; otherwise, escrow agent is to pay the
final bill and remit balance of monies so held, if any, to SELLERS.
All funds and documents necessary for closing shall be deposited with Revere Title Agency,
Escrow Agent herein, at ______________________________, on or before ____________; and
the deed shall be recorded on or about _____________ with possession to be delivered by
SELLERS to PURCHASERS no later than ______ days after the deed is filed for record.
SELLERS shall pay the following costs through escrow:
• Title Examination
• One-half (1/2) the escrow fee
• One-half (1/2) the premium for the Owners’ Fee Policy of Title Insurance
• Any amounts due by reason of tax proration
• Cost of recording mortgage satisfactions, as applicable
• Conveyance Fee
• Cost of preparing the deed
PURCHASERS shall pay the following costs through escrow:
• Title Commitment
• One-half (1/2) the escrow fee
• One-half (1/2) the premium for the Owners’ Fee Policy of Title Insurance
• Any additional premiums required by lender by reason of an ALTA Loan Policy
• Any costs incident to financing
• Cost of recording the deed
• Cost of recording the mortgage
• Cost of Mortgage Location Survey, if required by lender
• Special Tax Search
If any building or other improvements are damaged or destroyed prior to the filing of the deed
for record, PURCHASERS shall have the option of completing this CONTRACT TO
PURCHASE REAL ESTATE and to receive the proceeds of insurance payable in connection
therewith, together with cash from SELLERS in the amount of any deductible, or to
terminate this CONTRACT TO PURCHASE REAL ESTATE and to recover all funds
heretofore paid, if any.
Title is to be taken in the name of ____________________________________________,
Husband and Wife, in survivorship.
Page Two of Three
SELLERS and PURCHASERS represent this transaction is being entered into without the
assistance of any real estate agent and, thereby, no commission is due by reason of this
transaction and will indemnify and hold each other harmless in the event of any claim for
commission asserted by a Realtor or Broker.
PURCHASERS acknowledge receipt of completed ”State of Ohio Residential Property
Disclosure Form” and “Federal Lead Paint Disclosure Form”, copies of which are attached
hereto and made a part hereof.
Executed in Duplicate By:
SELLERS:
PURCHASERS:
____________________________________
_____________________________________
Date
Date
_____________________________________
_____________________________________
Date
Date
ADDRESS:
ADDRESS:
_____________________________________
_____________________________________
_____________________________________
_____________________________________
PHONE:
PHONE:
____________________________________
______________________________________
Page Three of Three
BUYER AND SELLER INFORMATION
Please fill out and return with the signed purchase agreement.
PLEASE PRINT.
SELLER(S) FULL NAME:
___________________________________
___________________________________
SELLER(S) CURRENT
MAILING ADDRESS:
____________________________________
____________________________________
City
State
Zip
SELLER(S) TELEPHONE:
____________________________________
Home
____________________________________
Work/Cell
PURCHASER(S) FULL NAME:
____________________________________
____________________________________
PURCHASER(S) CURRENT
MAILING ADDRESS:
____________________________________
___________________________________
City
State
Zip
PURCHASER(S) TELEPHONE:
____________________________________
Home
____________________________________
Work/Cell
PURCHASER(S) BANK/MORTGAGE COMPANY INFORMATION:
____________________________________________________________
Name
____________________________________________________________
Contact Person/Phone

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