Purchase and Sale Agreement Template - Free Download
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PURCHASE AND SALE AGREEMENT
(a) BUYER NAME(s): __________________________________________________________________________________
(b) SELLER NAME(s): _________________________________________________________________________________
(c) PROPERTY ADDRESS and/or DESCRIPTION: Buyer agrees to purchase and Seller agrees to sell the real property identified as:
_____________________________________________________________, _____________________ County, Tennessee.
(d) PURCHASE PRICE: $__________________, _____________________________________________________ Dollars,
to be paid in cash or equivalent good funds at closing.
(e) EARNEST MONEY: $ _____________ valid check or money order payable to Escrow Agent: _______________________
___________________________, whose address is: ________________________________________________________,
will be promptly delivered to Escrow Agent no later than 5:00 PM, three (3) calendar days after the Acceptance Date.
(f) CLOSING, EXPIRATION, & POSSESSION DATE: ___________________________. This is the date that the sale will
be closed, or this Agreement will expire on this date at 11:59 PM. If this is not a business day, this date will be extended to the
next business day. Any other change in this date must be agreed to in writing by all parties. Possession of the entire property will
be given to the Buyer at the time of closing, unless a different time of possession is agreed to in a separate Occupancy Agreement.
(g) ITEMS INCLUDED OR EXCLUDED: Included, if present, as part of the property sale: all real estate, buildings,
improvements, appurtenances (rights and privileges), and fixtures. Fixtures include all things which are attached to the
structure(s) by nails, screws, or other permanent fasteners, including, but not limited to all of the following, if present:
attached light fixtures and bulbs, ceiling fans, attached mirrors; heating and cooling equipment and thermostats; plumbing
fixtures and equipment; all doors and storm doors; all windows, screens, and storm windows; all window treatments
(draperies, curtains, blinds, shades, etc.) and hardware; all wall-to-wall carpet; all built-in kitchen appliances and stove; all
bathroom fixtures; gas logs, fireplace doors and attached screens; all security system components and controls; garage door
openers and all remote controls; swimming pool and its equipment; awnings; permanently installed outdoor cooking grills;
all fencing, landscaping and outdoor lighting; and mail boxes.
Other items included in the sale: ________________________________________________________________________
Items that are not included in the sale: ___________________________________________________________________.
(h) CLOSING COSTS: Unless otherwise stated in Special Stipulations or Addenda, closing costs are to be paid as follows:
Seller must pay all Seller’s existing loans, liens and related costs affecting the sale of the property, Seller's settlement fees,
real estate commissions, the balance on any leased items that remain with the property, and a title insurance policy with
Buyer to receive benefit of simultaneous issue. Any existing rental or lease deposits must be transferred to Buyer at closing.
Buyer must pay transfer taxes, deed and deed of trust recording fees, association transfer fees, hazard and any other
required insurance, Buyer's settlement fees, and all Buyer’s loan related or lender required expenses.
(i) PRORATIONS, TAXES & ASSESSMENTS: The current year’s property taxes, any existing tenant leases or rents,
association or maintenance fees, (and if applicable, any remaining fuel), will be prorated as of the date of closing. Taxes for
prior years and any special assessments approved before date of closing must be paid by Seller at or before closing. If
applicable, roll back taxes or any tax or assessment that cannot be determined by closing date should be addressed in
Special Stipulations or Addenda and will survive the closing.
(j) HOME PROTECTION PLANS: Home Protection plans available for purchase are waived, unless addressed in Special
Stipulations. Buyer and Seller understand that an administrative fee may be paid to the Real Estate Company if plan is purchased.
(k) SPECIAL STIPULATIONS: The following special stipulations, if in conflict with any language contained within the 3 pages of
this Purchase and Sale Agreement, will control: __________________________________________________________________
(l) TIME IS OF THE ESSENCE: The failure to meet specified time limits will be grounds for canceling this Agreement.
(m) FAIR HOUSING AND EQUAL OPPORTUNITY: This Property is being sold without regard to race, color, sex,
religion, disability, marital status, family status, sexual orientation, age, ancestry, or national origin.