Standard Purchase Agreement For Real Estate - BP

STANDARD PURCHASE AND SALE AGREEMENT
AGREEMENT dated __________________________ by and between the following parties:

_____________________________________________ (“Seller”), and Ladder Investments, LLC (“Buyer”).
The parties agree that Seller will sell and Buyer will buy the following property, upon the terms and conditions in this
agreement. If any added handwritten terms or conditions conflict with any that are printed or marked, the handwritten
terms or conditions will control. Seller certifies that all parties on title are included above.
1. SUBJECT PROPERTY: Real Property located in the County of ___________________, State of ________________,
known commonly by the following street address: ___________________________________________________. This
sale includes the above described real property and shall also include (A) all fixtures located on the property, including
attached lighting fixtures, ceiling fans, drapery, mailbox, sheds, fences, appliances and installed landscaping; and (B) all
personal property remaining on the property or in any structure located on the property when Buyer takes possession.
2. TOTAL PURCHASE PRICE: $ _______________________
3. PAYMENT METHOD FOR PURCHASE: Cash, title company check or bank cashier’s check.
4. ZONING & RESTRICTIONS: If the property is not zoned single family residence or cannot be legally used as a single-
family residence or if there is notice of proposed zoning changes or deed or other restrictions that could prevent such use
at the time of closing, Buyer will have the right to terminate this agreement.
5. CLOSING: Closing shall be on or before ____________________________, on a day and time determined by Buyer.
Buyer shall pay the standard and normal closing costs for both Buyer and Seller. Seller shall convey title by General
Warranty Deed (unless otherwise specified), subject to taxes, existing zoning, covenants, restrictions and easements of
record. Closing is to be held at a title office of Buyer’s choosing.
6. PRORATIONS: ALL Property taxes, rentals and association or condominium fees will be prorated as of the date of
closing. Any delinquent property taxes will be paid by Seller before or at closing.
7. TITLE: Seller shall provide clear and marketable title on or before closing. If a title commitment or survey, if any,
reveal any defects which, in Buyer’s sole discretion, render the title unmarketable, Buyer or closing agent will have ten
(10) days from receipt of such title commitment and/or survey to notify Seller of such title defects. Seller agrees to use
best efforts to cure such defects and will have 30 days to do so. Any expenses of curing such defects including, but not
limited to, legal fees, discharge of liens and recording fees will be paid by Seller, unless otherwise agreed in writing. This
transaction will be closed within ten (10) days after delivery to Buyer of evidence that such defects have been cured. If
Seller is unable to deliver marketable title or rejects the title commitment issued by the title company, in each case as
determined by Buyer in its sole discretion, Buyer will have the right to terminate this agreement.
8. CONDITION OF PROPERTY: Buyer accepts property in its present “as is” condition. Seller understands that there will
be no home inspection performed, no appraisals, and no repairs requested to be done by Seller. Seller represents and
warrants to Buyer that the sewer line is intact and in good working order and Seller knows of no material structural defects
in the property, except:
_______________________________________________________________________________________________
9. FINAL WALKTHROUGH: Buyer shall be permitted to conduct a walk-through inspection of the property within 48 hours
of the closing for Buyer to confirm that the property is in the same condition as existed on the date of this agreement. If
Buyer is not satisfied, in its sole discretion, that the property has been maintained by Seller in the same condition, Buyer
shall have the right to terminate this agreement.
Both parties acknowledge they have reviewed, understand, and agree to all the terms on this page.
Seller initials__________ __________ Buyer initials__________
10. ACKNOWLEDGEMENTS. Seller acknowledges that (a) some members of Buyer are licensed real estate agents,
however, there is no agency relationship being established by this agreement; and (b) Buyer is a real estate investor and
is buying the property for investment purposes.
11. ACCESS TO PROPERTY: Seller shall make property accessible to Buyer and/or Buyer’s lender, partner, contractor,
appraiser, or inspector throughout the period from the date of this Agreement to closing.
12. ADDITIONAL TERMS: Seller understands that Buyer is using third party private (cash) funding to purchase the
property. If such funding becomes unavailable prior to closing for any reason, Buyer may cancel this agreement without
penalty.
13. COST OF ENFORCEMENT. Each party shall pay all costs and expenses, including reasonable attorney fees,
incurred by the other party in enforcing the provisions of this Agreement or in recovering any claims or damages arising
from a breach of this Agreement if the other party is successful in its action.
14. AGREEMENT OF PARTIES: This agreement contains the entire agreement of the parties and supersedes any
previous agreements between them whether written or oral. This agreement cannot be changed unless done so in writing
and signed by all parties.
15. TIME IS OF THE ESSENCE. Time is of the essence in the performance of this agreement.
16. OCCUPANCY AND POSSESSION:
By signing below, the Seller and Buyer acknowledge that all parties have read and understand the terms of this
agreement. The seller also certifies they have provided all requested information truly and accurately to the best of their
knowledge.
Seller Name(s): _____________________________________ ______________________________________

Signature(s): _____________________________________ ______________________________________
Date: _____________________________________ ______________________________________
Buyer: Ladder Investments, LLC . Date: _________________________________

Signature: _____________________________________

Standard Purchase Agreement For Real Estate - BP

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STANDARD PURCHASE AND SALE AGREEMENT

AGREEMENT dated __________________________ by and between the following parties:

2. TOTAL PURCHASE PRICE: $ _______________________

16. OCCUPANCY AND POSSESSION:

Seller Name(s): _ __

Buyer: Ladder Investments, LLC . Date: _________________________________

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