Contract for the Sale of a Residential Unit

[Header with the names and contact information of the parties involved]

Contract for the Sale of a Residential Unit

This agreement made on [date] between [Seller], with an address at [address], hereafter referred to as the “Seller,” and [Buyer], with an address at [address], hereafter referred to as the “Buyer.”

Whereas the Seller owns a residential unit located at [address], and the Buyer wishes to purchase the residential unit from the Seller.

Now, therefore, in consideration of the mutual promises contained herein, the parties agree as follows:

1. Sale of Residential Unit: The Seller agrees to sell, convey, and transfer to the Buyer, and the Buyer agrees to purchase from the Seller, the residential unit located at [address] (the “Residential Unit”).
2. Purchase Price: The total purchase price for the Residential Unit shall be [amount] (the “Purchase Price”), payable as follows: [payment terms, such as down payment and installment plan].
3. Closing: The closing of the sale of the Residential Unit shall take place on [closing date] at [closing location].
4. Condition of the Residential Unit: The Seller represents and warrants that the Residential Unit is in good condition and free from any defects or damage that would affect its habitability or value. The Buyer shall have the right to inspect the Residential Unit prior to the closing.
5. Title: The Seller shall convey good and marketable title to the Residential Unit to the Buyer at the closing.
6. Taxes and Assessments: The Seller shall pay all real estate taxes and assessments up to and including the date of the closing. The Buyer shall be responsible for all real estate taxes and assessments thereafter.
7. Possession: The Buyer shall be entitled to possession of the Residential Unit at the closing.
8. Default: If either party defaults in the performance of any term or condition of this Agreement, the non-defaulting party may terminate this Agreement upon written notice to the defaulting party.
9. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of [state/province/country].
10. Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior negotiations, understandings, and agreements between them, whether written or oral. This Agreement may not be amended except in writing signed by both parties.

[Signatures and dates of both parties]

Seller: _______________________________ Date: ____________

Buyer: ________________________________ Date: ____________