Broker License #: BR-4512-8870
123 Commerce Street, Suite 400, Charlotte, NC 28202 | (704) 555-1200
DISCLAIMER: This is a legal template and not a substitute for professional legal advice. Real estate laws vary by state. Both the Buyer and Seller are strongly encouraged to consult with an attorney before signing this legally binding contract. The Broker represents the Seller in this transaction and cannot provide legal advice to either party.

RESIDENTIAL REAL ESTATE PURCHASE AGREEMENT

1. PARTIES

This Agreement is made and entered into on this , by and between:

2. PROPERTY DESCRIPTION

The Seller agrees to sell and the Buyer agrees to buy, upon the terms and conditions set forth herein, the following real property:

(the "Property")

The sale includes all existing fixtures and fittings attached to the Property, including, but not limited to: all built-in appliances, lighting fixtures, window treatments, and landscaping.

3. PURCHASE PRICE AND FINANCING

Upon execution of this Agreement, the Buyer shall deliver a deposit in the amount of $13,500.00, which represents approximately 3% of the Purchase Price. This deposit ("Earnest Money") shall be held in escrow by Pinnacle Realty Associates, Inc. and shall be applied to the Purchase Price at closing.

The balance of the Purchase Price, less the Earnest Money, shall be paid as follows:

This Agreement is contingent upon the Buyer obtaining a written loan commitment within 45 days from the Effective Date. If the Buyer, after making a good faith effort, is unable to secure financing, this Agreement shall become null and void, and the Earnest Money shall be returned to the Buyer.

4. INSPECTION CONTINGENCY

The Buyer shall have 10 days from the Effective Date ("Inspection Period") to conduct any and all inspections of the Property at the Buyer's expense. If the inspections reveal material defects, the Buyer may, within the Inspection Period:

a) Accept the Property in its current condition;

b) Request that the Seller make specific repairs; or

c) Terminate this Agreement, in which case the Earnest Money shall be returned.

Failure to provide a written notice of termination within the Inspection Period shall constitute a waiver of this contingency.

5. TITLE

Seller shall provide to Buyer a commitment for an owner's title insurance policy, issued by a reputable title company, showing clear and marketable title. The cost of the owner's title policy shall be paid by the Seller. The Buyer may, at their own expense, obtain a lender's title insurance policy.

6. CLOSING AND POSSESSION

Possession of the Property shall be delivered to the Buyer at Closing, unless otherwise agreed in a separate written addendum.

7. GENERAL PROVISIONS & DISCLOSURES

7.3. Agency: Pinnacle Realty Associates, Inc. and its agents are acting as the Seller's exclusive agent in this transaction.

7.4. Entire Agreement: This Agreement constitutes the entire understanding between the parties and supersedes all prior agreements, written or oral.

8. ACCEPTANCE

This offer shall remain open for acceptance by Seller until on , after which time it shall be deemed withdrawn and null and void.

INSTRUCTIONS FOR THE BUYER

  1. Complete the Form: Please fill in all blank sections in Part 1 (BUYER), Part 3.3 (Financing), and Part 6.1 (Closing Date).
  2. Sign and Date: Ensure all buyers named on the agreement sign and date the acceptance section below.
  3. Submit with Deposit:
    • You must submit this signed Agreement along with your Earnest Money Deposit in the form of a certified check or wire transfer for $13,500.00 made payable to "Pinnacle Realty Associates, Inc. - Escrow Account".
    • Deliver the signed Agreement and deposit to our office at 123 Commerce Street, Suite 400, Charlotte, NC 28202 by the deadline stated in Section 8.
  4. Failure to submit the signed Agreement and the required deposit by the specified deadline will result in this offer not being presented to the Seller.

ACKNOWLEDGEMENT AND ACCEPTANCE

Signature: _________________________________________

Printed Name:

Date:

Signature (if applicable): _________________________________________

Printed Name:

Date:

The undersigned Seller accepts and agrees to the terms and conditions of this Agreement.

SELLER:

Signature: _________________________________________

Printed Name: Margaret A. Caldwell

Date:

Signature (if applicable): _________________________________________

Printed Name:

Date:

Received signed Agreement and Earnest Money Deposit on at AM/PM.

Authorized Broker Representative: _________________________________________

Printed Name: