Offer To Buy
I Offer to buy seller’s property (print this form, fill in blanks completely, add money, easy)
SALES CONTRACT ALBANY, GEORGIA _____,____ 202 ____(DATE)
The undersigned SELLER agrees to sell, and the undersigned PURCHASER agrees to buy, all that certain lot of land in GEORGIA, ______________ County, and described as follows: _________________________________________________, BEING ________ACRES, and further described in EXHIBIT “A” and EXHIBIT “B” attached thereto; including all lighting fixtures attached thereto and all plumbing and other stationary equipment.
The PURCHASE PRICE of said property shall be _______________________________________and 00/100 Dollars ($_______________00), (BEING $__________ per acre), to be paid as follows: CASH AT TIME OF CLOSING. CLOSING DATE will be on or before ___/___/202__ at the law office of sellers lawyer.
Title to the aforedescribed property is to be conveyed by Seller to Purchaser by Limited Warranty Deed. Taxes are to be prorated as of the date of the consummation of this sale. Said property is sold subject to all valid restrictions of record; zoning ordinances affecting the same.
The sale is to be consummated within 30 days from the date of the acceptance of this offer by seller or purchaser who last executes this contract, during which time Purchaser shall have the opportunity of having the title examined; it being expressly understood and agreed between the parties hereto that time is of the essence of this contract. Should any legal defect be found in the title, Seller shall be furnished with a written statement thereof within said period of 15 days from this date, and given a reasonable time thereafter within which to correct the same, however, in no event to exceed thirty (30) days from the effective date of this Sales Contract.
Purchaser has paid to Seller ________________________ and 00/100 Dollars ($________.00) {this amount should be at least 10% of the purchase price to be taken as a legitimate offer} as earnest money, to be applied as part payment on the purchase price of said property. If the sale is not consummated due to Purchaser’s default, the earnest money shall be applied toward Seller’s damages caused by Purchaser’s default. In event the sale is not consummated for reasons other than default of Purchaser the earnest monies to be refunded to the Purchaser.
Like Kind Exchange: Purchaser will cooperate with Seller so as to allow Seller to treat this transaction as part of a like kind exchange pursuant to Section 1031 of the Internal Revenue Code. Purchaser will execute all documents reasonably necessary to accomplish this purpose.
Should the aforedescribed property be improved and such improvements be wholly destroyed by fire or the elements before sale is consummated, the loss shall fall on the Seller. If such loss is partial, then at the option of the Purchaser, the Seller shall repair or restore the premises to their former condition or the Purchaser shall be allowed to deduct from the agreed purchase price the amount necessary to repair or restore premises to the condition of same prior to the casualty. If the parties are unable to agree as to the amount necessary to repair or restore the property to its former condition, in the event of either a total or a partial loss, then each party shall name one appraiser and the two appraisers shall name an umpire and the decision of the majority shall determine the amount to be deducted from the purchase price, which decision and award shall have the force and effect of a statutory award as provided by the law of Georgia.
This sale is subject to a Survey and Title Search at buyers expense. Buyer will pay for Title Search Insurance.
Buyer understands Hunting Rights and Farm is leased for this current year and Seller will keep proceeds from Farm Lease and Hunting Lease for this year. Seller agrees to give to Purchaser complete possession of said property on date of sale subject to these leases.
The following special stipulations shall, if in conflict with the printed matter, control: