Definitive sale agreement of property

Here’s an example of a template for a definitive sale agreement of a property:

DEFINITIVE SALE AGREEMENT OF PROPERTY

This Definitive Sale Agreement (“Agreement”) is made and entered into as of [Date] by and between [Seller’s Name] (“Seller”) and [Buyer’s Name] (“Buyer”).

1. Description of Property: The Seller hereby sells to the Buyer, and the Buyer hereby purchases from the Seller, the property with the following details:

• Address: [Address]
• Legal description: [Legal description]
• Lot size: [Lot size] (the “Property”).

2. Purchase Price: The purchase price for the Property shall be [Amount in words (numerical)], payable as follows:

• [Amount or percentage] shall be paid as a deposit upon the execution of this Agreement by the Buyer.
• The balance of the purchase price shall be paid on the closing date, which shall be [Date].

3. Representations and Warranties: The Seller represents and warrants to the Buyer that:

• The Seller is the legal owner of the Property, and has full power and authority to sell the Property.
• There are no liens, encumbrances, or other claims against the Property.
• The Property is in good condition, free from any material defects, and has been maintained in accordance with applicable laws and regulations.
• The Seller has disclosed to the Buyer all known defects or problems with the Property.

4. Closing: The closing shall take place on the date specified in Section 2, at a mutually agreeable location.
5. Delivery and Title: Upon payment of the purchase price, the Seller shall deliver the Property to the Buyer, and shall execute any necessary documents to transfer title to the Property to the Buyer.
6. Possession: The Buyer shall be entitled to possession of the Property upon the closing date.
7. Risk of Loss: The risk of loss or damage to the Property shall pass to the Buyer upon delivery.
8. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the state of [State] without giving effect to any choice of law or conflict of law provisions.
9. Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or oral, relating to the subject matter of this Agreement.
10. Binding Effect: This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

SELLER’S SIGNATURE: _______________________________ BUYER’S SIGNATURE: _______________________________