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Nebraska Uniform Purchase Agreement Form

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Nebraska Uniform Purchase Agreement Form
Nebraska Uniform Purchase Agreement Form
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Uniform Purchase Agreement
(This is a legally binding contract. If not understood, seek legal advice)
Date: __________________________
This for sale by owner real estate purchase agreement is entered into by and between ________________________________________ (Seller)
1. Address:_________________________________________________________________________________Zip Code________________
2. Legal Description (Property): _______________________________________________________________________________________
as Surveyed, platted and recorded in _______________County, NE, including all fixtures and equipment permanently attached to the property.
3. Personal Property: The only personal property included is as follows: All existing ______________________________________________
4. Conveyance: Provided that the seller (whether one or more) has good, valid and marketable title, in fee simple, Seller agrees to convey title to
Property to Purchaser or his nominee by warranty deed free and clear of all liens, encumbrances or special taxes levied or assessed, no exceptions,
subject to all building and use restrictions, utility easements abutting the boundary of the Property, and covenants now of record.
5. Assessments: Seller agrees to pay any assessments for paving, curb, sidewalk or utilities previously constructed, or ordered or required to be
constructed by the public authority, but not yet assessed.
6. Consideration: Purchaser agrees to pay______________________________________________________________________________________
_____________________________________DOLLARS ($_________________________) on the following terms: $___________ (Deposit)
deposited herewith as evidenced by the receipt attached below. The Deposit shall be made payable to the Escrow Holder (DRI Title & Escrow
see paragraph 15). If the Deposit is paid by check, it will be cashed. In the event this offer is not accepted by the Seller of the Property within the time
specified, or in the event there are any defects in the title which cannot be cured as specified below, the Deposit shall be refunded. In the event of
refusal or failure of the Purchaser to consummate the purchase, the Seller may, at his option, retain the Deposit for failure to carry out the terms of this
Purchase Agreement.
7. Financing (Check one):
__ A. All Cash: Balance of $ __________________ shall be paid in cash, or certified or cashier’s check at time of delivery of deed, no financing
being required.
__ B. Conditional Upon Financing: Balance of $_____________________ shall be paid in cash, or by certified or cashier’s check at time of
delivery of deed, conditioned upon Purchaser’s ability to obtain financing to be secured by a first mortgage or deed of trust, on above described
property in the amount of $__________________. The financing will be _ VA, _ FHA, _ Conventional, _ or__________________, with terms
providing for initial interest not exceeding ________% per annum, plus mortgage insurance if required, amortized over not less than ______years, with
initial monthly principal and interest payment of not more than $______________plus taxes and insurance. The note will be for a period of not less
than ______ years. Loan origination / service fee to be paid by Purchaser. Purchaser agrees to make application for financing within five (5) business
days of acceptance of this offer, to sign all papers and pay all costs in connection therewith, and to establish escrow reserves as required. If the
financing is not approved within______ days from the date of acceptance, this offer shall be null and void, and the deposit will be returned to
Purchaser. However, if the processing of the application for financing has not been completed by the lending agency within the above time, such time
limit shall be automatically extended until the lending agency has, in the normal course of its business, advised either approval or denial. If the original
loan application is denied, the Purchaser authorizes and instructs the Lender to notify the Purchaser, the Seller and all real estate licensees involved in
the transaction, in writing. Upon notification of denial, this Purchase Agreement shall be void and the Deposit will be refunded to Purchaser unless
Seller and Purchaser mutually agree in writing within five (5) business days from receipt of notification of loan denial that an additional loan
application will be made or that additional loan information will be submitted to the original Lender. Discount points not to exceed ___________ will
be paid by Purchaser or Seller (check one).
__ C. ASSUMING EXISTING NOTE, MORTGAGE OR DEED OF TRUST: Purchaser agrees to assume and pay existing note balance in favor
of______ in the approximate amount of_________ and pay the balance in cash, or by certificate or cashier's check at the time of delivery of the deed. It is
understood that the note terms provide a current interest rate of_______% per annum and payments of $___________ per _________. Said payments
include________ Interest on the existing note balance and any mortgage insurance premium shall be prorated to _________________ Purchaser agrees to
reimburse the Seller for the amount in the escrow reserve account, which is to be assigned to the Purchaser. Seller agrees the existing note, mortgage or Deed
of Trust, and escrows will be current and in good standing at the time of closing.
__ D. SELLER FINANCING: Balance to be evidenced by _______________ with Seller providing for additional cash payment, certified or cashier's
check of $____________ at time of execution of all instruments, and the remainder of $____________ shall be paid in monthly payments of $__________ or
more, which monthly payments shall include interest at the rate of _________% per annum computed monthly on the unpaid portion of the principal,
amortized over not less than _____ years.
13057 West Center Road, Suite 1
Omaha, NE 68144
Nebraska Uniform Purchase Agreement Form