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Real Estate Purchase Agreement

1. Property and Purchase Price

1.1. Property Description

This Real Estate Purchase Agreement (the "Agreement") is entered into by and between the Seller, ____________________ ("Seller") and the Buyer, ____________________ ("Buyer"), together referred to as the "Parties", for the conveyance and transfer of the real property located at 2414 Peaceful Lane, Independence, Ohio, in the United States (the "Property"), which includes all rights and appurtenances, improvements, and fixtures, legally described as follows:

#Property_Legal_Description

1.2. Purchase Price

The purchase price for the Property is ________________ United States Dollars (US $_________) (the "Purchase Price"), payable in immediately available funds by the Buyer to the Seller at the closing date.

2. Earnest Money Deposit

Upon execution of this Agreement, the Buyer shall deposit an earnest money deposit of ________________ United States Dollars (US $_________) (the "Earnest Money") with ____________________, as escrow agent (the "Escrow Agent"), as a good faith deposit which will be applied towards the Purchase Price in closing. The Earnest Money is refundable to the Buyer in accordance with the terms and conditions of any contingencies set forth in this Agreement.

3. Title and Due Diligence

3.1. Title Review

Seller shall provide Buyer with a commitment for title insurance (the "Title Commitment") from a reputable title insurance company within 10 business days of the Effective Date of this Agreement. The Buyer shall have the right to review the Title Commitment and conduct any inquiries or investigations regarding the title to the Property. The Buyer shall notify the Seller of any objections to the Title Commitment within 20 business days of receiving the Title Commitment.

3.2. Due Diligence

Within 30 business days after the Effective Date of this Agreement, the Buyer, at their own expense, shall have the right to conduct all due diligence and investigations relating to the Property, including, but not limited to, inspections, surveys, and environmental assessments. If the Buyer determines, in their sole discretion, that the Property is not satisfactory, the Buyer may terminate this Agreement by written notice to the Seller within the 30-business day period, and the Earnest Money shall be promptly refunded to the Buyer.

4. Representations and Warranties

4.1. Seller's Representations and Warranties

The Seller represents and warrants to the Buyer that:

• the Seller is the legal owner of the Property and has the authority to sell the Property;


• the Seller is not subject to any bankruptcy or insolvency proceedings;


• there are no liens, assessments, or encumbrances on the Property except as disclosed in the Title Commitment;


• all required permits, licenses, and approvals have been obtained for the Property;


• the Property is in compliance with all applicable zoning, building, and environmental regulations and laws;


• there are no pending or threatened litigation or disputes relating to the Property; and


• except as otherwise provided in this Agreement, the Property is being sold "AS IS," with all faults and defects, and without any warranties, express or implied.

4.2. Buyer's Representations and Warranties

The Buyer represents and warrants to the Seller that:

• the Buyer has the legal capacity to enter into this Agreement and to perform its obligations hereunder;


• the Buyer has conducted an independent investigation of the Property and agrees to purchase the same based on its own investigations and not in reliance upon any information, representation, or warranty provided by the Seller;


• the Buyer shall obtain financing for the purchase of the Property, if necessary, and shall not be in default of any financing terms at the time of closing.

5. Closing

5.1. Closing Date

The closing of the purchase and sale of the Property (the "Closing") shall occur on or before ________________, or such other date as mutually agreed upon by the Parties (the "Closing Date").

5.2. Closing Costs

Each party is responsible for their respective closing costs, including any attorney fees, escrow fees, and other miscellaneous fees and costs, except as provided in this Agreement.

6. Contingencies

This Agreement is contingent upon the following:

• the receipt of a satisfactory Title Commitment by the Buyer;


• the satisfactory completion of all due diligence and investigations by the Buyer;


• the satisfaction of all contingencies provided for in this Agreement;


• the execution and delivery of all required closing documents; and


• the performance by each party of all of its representations, warranties, and covenants contained in this Agreement.

7. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the United States and of the State of Ohio, without regard to conflicts of law principles.

8. Entire Agreement

This Agreement, together with any exhibits, schedules, and addenda hereto, constitutes the entire agreement between the Parties with respect to the subject matter hereof, and supersedes all prior oral or written agreements, representations, and understandings between the Parties relating to the subject matter hereof.

9. Counterparts

This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

10. Binding Effect

This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, executors, administrators, successors, and assigns.

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date first written above.

________________________ ________________________
Buyer Seller

________________________ ________________________
Buyer's Address Seller's Address