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Purchase and Sale Agreement 3

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Purchase and Sale Agreement 3
Purchase and Sale Agreement 3
Copyright 2012 © Tennessee Association of Realtors
F9 Purchase and Sale Agreement, Page 1 of 9 Version 1/01/2012
1. Purchase and Sale. For and in consideration of the mutual covenants herein and other good and valuable consideration, 1
the receipt and sufficiency of which is hereby acknowledged, the undersigned buyer 2
_______________________________________________________________________ (“Buyer”) agrees to buy and the 3
undersigned seller _________________________________________________________________________ (“Seller”) 4
agrees to sell all that tract or parcel of land, with such improvements as are located thereon, described as follows: 5
All that tract of land known as: _______________________________________________________________________ 6
(Address) _______________________________________ (City), Tennessee, __________ (Zip), as recorded in 7
_____________________________ County Register of Deeds Office, _________ deed book(s), _________ page(s), 8
and/or ________________________________ instrument number and as further described as: 9
______________________________________________________________________________________________ 10
together with all fixtures, landscaping, improvements, and appurtenances, all being hereinafter collectively referred to as 11
the “Property.” 12
A. INCLUDED as part of the Property (if present): all attached light fixtures and bulbs including ceiling fans; 13
permanently attached plate glass mirrors; heating, cooling, and plumbing fixtures and equipment; all doors, storm 14
doors and windows; all window treatments (e.g. shutters, blinds, shades, curtains, draperies) and hardware; all wall-15
to-wall carpet; range; all built-in kitchen appliances; all bathroom fixtures and bathroom mirrors; all gas logs, 16
fireplace doors and attached screens; all security system components and controls; garage door opener and all (at 17
least ____) remote controls; swimming pool and its equipment; awnings; permanently installed outdoor cooking 18
grills; all landscaping and all outdoor lighting; mailbox(es); attached basketball goals and backboards; TV antennae 19
and satellite dishes (excluding components); and central vacuum systems and attachments. 20
B. Other items that REMAIN with the Property at no additional cost to Buyer: 21
_________________________________________________________________________________________________ 22
_________________________________________________________________________________________________ 23
_________________________________________________________________________________________________ 24
C. Items that WILL NOT REMAIN with the Property: 25
_________________________________________________________________________________________________ 26
_________________________________________________________________________________________________ 27
_________________________________________________________________________________________________ 28
D. LEASED ITEMS: Leased items that remain with the Property: (e.g., security systems, water softener systems, fuel 29
tank, etc.): ____________________________________________________________________________________. 30
Future lease payments shall be the responsibility of _______________________. If leases are not assumable, it will 31
be Seller’s responsibility to pay balance. 32
E. FUEL: Fuel, if any, will be adjusted and charged to Buyer and credited to Seller at closing at current market prices. 33
2. Purchase Price, Method of Payment and Closing Expenses. Buyer warrants that, except as may be otherwise 34
provided herein, Buyer will at closing have sufficient cash to complete the purchase of the Property under the terms of 35
this Purchase and Sale Agreement (hereinafter "Agreement"). The purchase price to be paid is: 36
$____________________, ________________________________________________________________ U.S. Dollars, 37
(“Purchase Price”) which shall be disbursed at Buyer’s expense and paid to Seller or Seller’s Closing Agency in the 38
same form as deemed acceptable under the Tennessee Residential Closing Funds Distribution Act of 2005, as amended 39
in Tenn. Code Ann. § 47-32-101, et seq. 40
A. Appraisal (Select either 1 or 2 below. The sections not checked are not a part of this Agreement). 41
1. This Agreement IS NOT contingent upon the appraised value either equaling or exceeding the 42
agreed upon Purchase Price. 43
2. This Agreement IS CONTINGENT upon the appraised value either equaling or exceeding the agreed 44
upon Purchase Price. If appraised value is equal to or exceeds Purchase Price, this contingency is satisfied. 45
If the appraised value of the Property does not equal or exceed the Purchase Price, Buyer may terminate 46
this Agreement by providing written notice to the Seller and providing written proof of the same (for 47
Purchase and Sale Agreement 3