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Utah Real Estate Purchase Contract for Land Form

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Utah Real Estate Purchase Contract for Land Form
Utah Real Estate Purchase Contract for Land Form
REAL ESTATE PURCHASE CONTRACT
FOR LAND
This is a legally binding contract. If you desire legal or tax advice, consult your attorney or tax advisor.
EARNEST MONEY RECEIPT
Buyer offers to purchase the Property described below and hereby
delivers to the Brokerage, as Earnest Money, the amount of $ in the form of
which, upon Acceptance of this offer by all parties (as defined in Section 23), shall be deposited in accordance with state
law.
Received by:
(Signature of agent/broker acknowledges receipt of Earnest Money)
on (Date)
Brokerage: Phone Number:
OFFER TO PURCHASE
1. PROPERTY:
also described as:
City of County of State of Utah, ZIP (the "Property").
1.1 Included Items. (specify)
1.2 Water Rights/Water Shares. The following water rights and/or water shares are included in the Purchase Price.
.[ ] Shares of Stock in the (Name of Water Company)
.[ ] Other (specify)
2. PURCHASE PRICE The purchase price for the Property is $
The purchase price will be paid as follows:
$ (a) Earnest Money Deposit. Under certain conditions described in this Contract THIS
DEPOSIT MAY BECOME TOTALLY NON−REFUNDABLE.
$ (b) New Loan. Buyer agrees to apply for one or more of the following loans:
.[ ] CONVENTIONAL .[ ] OTHER (specify)
If the loan is to include any particular terms, then check below and give details:
.[ ] SPECIFIC LOAN TERMS
$ (c) Seller Financing. (see attached Seller Financing Addendum, if applicable)
$ (d) Other (specify).
$ (e) Balance of Purchase Price in Cash at Settlement.
$ PURCHASE PRICE. Total of lines (a) through (e)
3. SETTLEMENT AND CLOSING. Settlement shall take place on the Settlement Deadline referenced in Section 24(c), or
on a date upon which Buyer and Seller agree in writing. "Settlement" shall occur only when all of the following have been
completed: (a) Buyer and Seller have signed and delivered to each other or to the escrow/closing office all documents
required by this Contract, by the Lender, by written escrow instructions or by applicable law; (b) any monies required to be
paid by Buyer under these documents (except for the proceeds of any new loan) have been delivered by Buyer to Seller
or to the escrow/closing office in the form of collected or cleared funds; and (c) any monies required to be paid by Seller
under these documents have been delivered by Seller to Buyer or to the escrow/closing office in the form of collected or
cleared funds. Seller and Buyer shall each pay one−half (½) of the fee charged by the escrow/closing office for its
services in the settlement/closing process. Taxes and assessments for the current year, rents, and interest on assumed
obligations shall be prorated at Settlement as set forth in this Section. Prorations set forth in this Section shall be made as
of the Settlement Deadline date referenced in Section 24(c), unless otherwise agreed to in writing by the parties. Such
writing could include the settlement statement. The transaction will be considered closed when Settlement has been
completed, and when all of the following have been completed: (i) the proceeds of any new loan have been delivered by
the Lender to Seller or to the escrow/closing office; and (ii) the applicable Closing documents have been recorded in the
office of the county recorder. The actions described in parts (i) and (ii) of the preceding sentence shall be completed
within four calendar days of Settlement.
4. POSSESSION. Seller shall deliver physical possession to Buyer within: .[ ] Upon Closing .[ ] Other (specify)
Page 1 of 5 pages Seller's Initials______________ Date_______________ Buyer's Initials______________ Date_______________
Utah Real Estate Purchase Contract for Land Form
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