PC-1
11811 Anchor Lane Three Rivers MI 49093 800-686-6416 Office-Toll Free
PURCHASE CONTRACT
Date
Through you, as agent for the seller, I or we will give for the following described property located at: County of
, Michigan.
Legally described as: (attached if left blank)
.
The sum of ______________________________________________________________________________$______________________ PAYABLE AS FOLLOWS : Cash or Certified US funds upon execution and delivery of the deed, (warranty, limited warranty, special warranty, or quitclaim) conveying insurable title, free and clear of all encumbrances, assessments or liens except: the current and subsequent year’s property taxes, easements, covenants & restrictions of record, zoning, and all forms of governmental regulation. The property is purchased in absolute “as is, where is” condition. 1. Time is of the essence and this is an irrevocable offer to purchase with no contingencies. Seller has a deadline to accept in writing by ______________________ (date and time) or five business days if left blank. In the event offer is accepted and Buyer fails to perform according to the terms of this contract, the down payment shall be forfeited as partial liquidated damages, and not as a penalty, without affecting any of SELLER’S further remedies. Either party may demand specific performance of this agreement. 2. As evidence of good faith binding this contract, a non-refundable down payment of $_______________________ is made to be applied to the purchase price at closing. Down payment to be refunded only if title is uninsurable. If down payment is made with personal check, it shall be made payable to BippusUSA.com or _____________________________ 3. Improvements and fixtures. All realty improvements and fixtures are included in the price, including but not limited to the following: all electrical, gas, central heating and air, plumbing, including water softener, water heater and propane tanks (except rental units), built-in appliances, drapery hardware, attached carpeting, garage door opener, and __________________________________________________. Rented mechanical units and window a/c units are not included. Personal property and or equipment is not included. 4. Closing shall be on or before thirty (30) days from this date , subject to seller’s acceptance and confirmation, unless otherwise indicated in special provisions or as follows: Once this contract has been signed and accepted by the buyer and the seller it becomes Irrevocable and Absolutely binding on all parties, heirs and successors . An additional thirty (30) days to close can be allowed at the seller’s option. If checked: Yes This contract is subject to probate court approval and closing to be within, 60 days 90 days , with an additional 30 days allowed at the seller’s option. In the event the court does not approve this contract it becomes null and void and the buyers downpayment returned. 5. If Buyer defaults, Seller may enforce this agreement, or may declare Buyer’s right to purchase terminated, retain the down payment as partial liquidated damages, and pursue other legal remedies. If the Seller defaults, buyer may enforce this agreement, or may request the return of the down payment and pursue legal remedies. If this agreement is not closed in the time and manner provided, the Auctioneer/Broker shall have the absolute right to determine the respective positions of the parties, and is authorized by the undersigned to take such actions with respect to the down payment as Broker deems appropriate. Broker/Auctioneer is indemnified and held harmless by the undersigned parties for their actions taken. Broker/Auctioneer has no responsibility for the performance of this agreement by the parties. 6. The buyers, within time allowed for delivery of evidence of title and examination thereof, may have the Property surveyed at the buyer’s expense. When the closing occurs, Buyer shall be deemed to have accepted the location of such improvements on, and the boundaries of, the property. 7. This agreement is not subject to Buyer being able to qualify for financing. In case of such default, the provisions of Paragraph 1 shall apply. 8. The Buyer may assign interest in this agreement only with the expressed written consent of the Seller. 9. This agreement may be executed in a number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes. A fax signature shall be considered a binding contract. 10. Commercial/Business: Inventory is to be paid for at/or before closing and is not included in the contract price. The contract is not subject to SDM, liquor or any other license transfer. The business equipment included in the purchase price, if any, is
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