Standard House Purchase Agreement

If the buyer decides, between the signing of the sales contract and the closure of the house, that he wishes to withdraw for a reason that is not stipulated in the contract, he loses his serious money and the seller can cash it out. However, a buyer can get his serious money back if he withdraws for a reason stipulated in the contract. Point „D“ pursues this issue by requiring a definition of the number of days the seller needs from the due date of the following reference letter to terminate this agreement by written notice. The buyer must receive such notification within the number of days indicated here, after the buyer has not provided a written reference to point C by the due date. If the seller provides the financing that the buyer needs to buy this property, activate the „seller financing“ box. In this regard, several articles need to be provided as information. the „loan amount“ for Item „A“, the „deposit“ that buyer must pay in item „B“,“ the annual „interest rate“ applied by seller to item „C,“ the number of „months“ or „years“ that such financing should apply to item „D,“ and the schedule date by which buyer must provide proof that it can pay in the first two empty lines of item „E“; and the last calendar date the seller can authorize this proof for the last two spaces in point „E“. You must use this agreement if you (a) are a potential buyer or seller of housing, if you want to (b) define the legal rights of each party to the sale, and (c) set out the respective obligations of each party prior to the transfer of title. .