Georgia Contract for the Purchase and Sale of Real Property Form - Free Download
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Georgia Contract for the Purchase and Sale of Real Property Form
Georgia Contract for the Purchase and Sale of Real Property Form
Georgia Contract for the Purchase and Sale of Real Property
Page 1 of 9
____________________, 20____
[Note: Acceptance, Banking Days, Buyer’s Broker, Inspection, Lender, Offer,
and Seller’s Broker are defined terms in this agreement, with the definitions
being set out in the paragraph entitled “Miscellaneous”].
For the consideration more particularly set out in paragraph 9(J) below, it is agreed:
1. Property
Description
The undersigned Seller agrees to sell and the undersigned Buyer agrees to buy
that entire tract or
parcel of property located in _____________________________ County, Georgia, and being known as
________________________________________________________________________ (Property),
and being more particularly described as that tract of land lying and being in Land Lot _______ of the
_______District, _______ Section, ____________________ County, Georgia, being Lot _______,
Block _______, Section _______, Phase _______ of ______________________ Subdivision, as more
particularly set out in Plat Book _____, Page _____, of the official records of _____________ Georgia,
or in the alternative, as set out on an Exhibit attached hereto and made a part hereof by this reference.
2.
Purchase Price
The Purcha
se Price shall be _________________________________________________ US Dollars
($ _______________), in cash at closing, unless set out otherwise in this agreement or in an
Exhibit attached hereto.
3. Earnest Mone
y
A good faith depo
sit of __________________________________________________ US Dollars
($________________) shall be payable to ________________________________________ (Holder)
in the form of a
check; certified funds; money order; or, cash. Said funds shall be deposited
into Holder's
trust account as set out below. If the trust account is an interest bearing account, Holder
shall be entitled to the interest.
A.
Buyer has remitted said payment to Holder, and Holder shall deposit same into a trust
account withi
n 3 banking days from the date Holder receives an original or copy of the
Accepted (as hereinafter defined) contract.
B.
Buyer has not remitted said payment to Holder, but shall remit same to Holder within
____
__ days from the date of Acceptance of this contract and Holder shall deposit same
into a trust account within 3 banking days from the date of receipt of the deposit and a copy
or original of the Accepted contract. In the event said payment is not timely remitted,
Seller shall be promptly notified by Holder and Seller shall have the rights and remedies
set out in Section "E" below.
C. Regardless of whether the payment was remitted prior to Acceptance or on or before an
agreed upon date thereafter, if the method of presentation is not honored by the institution
upon which it was drawn, Holder shall promptly notify Buyer and Seller and the amount of
the agreed upon earnest money deposit shall be paid by certified check or other collected
funds to Holder within 3 days of notice from Holder. If Buyer fails to do so, Seller shall
have the rights and remedies set out in Section "E" below.
D. Notwithstanding the above, in the event the earnest money is not remitted to Holder as set
out, earnest money is no longer a part of this agreement and Seller shall have the rights
and remedies set out below.
i.
Unilaterally terminate this contract within 3 days of receipt of notice,
thereby
releasing Buyer and Sell
er from any further obligations or responsibilities to the
other; or,
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