Offer to purchase real estate
Offer to Purchase Real Estate
To: ____________, ______________, _____________, ________________
_________________, referred to herein as BUYER, offers to purchase the following
described real estate from ____________, referred to herein as SELLER, upon the terms
and conditions stated herein.
This offer shall expire unless accepted by 5:00 p.m. on ____ ________. SELLER shall
signify acceptance by executing the attached form of acceptance.
The gross purchase price shall be $ ________ (___________ &___/100 dollars). The legal
description of the property is:
_________________________________________________________________
To be paid upon the following terms:
$ _____(______________ &___/100 Dollars), to be paid at closing.
The buyer shall assume and agree to pay the following existing mortgages upon the
property. The unpaid principal balance of these mortgages shall be a credit towards the
purchase price:
_____________________________________________________________
At least 5 business days before closing, SELLER shall provide to BUYER estoppel letters
providing the balance, assumability and current good standing of the above stated
mortgage(s).
The BUYER shall execute a new purchase money mortgage to SELLER, in the principal
amount of $________, (___________________ &___/100 dollars) payable as follows:
Interest at the rate of: __ percent Payment schedule: _______
Said mortgage shall have the following priority:
_____________________________________________________________
This offer is conditioned upon BUYER obtaining loan approval at least __ days prior to
closing of this transaction, of a mortgage loan as follows:
Principal amount: $______ (____________________ &___/100 Dollars)
Loan term: ____________
Maximum interest rate as APR under regulation Z: ____ percent
Maximum points to be paid by BUYER: ____
Maximum application fee: $____
BUYER shall make a mortgage loan application within 3 working days of the acceptance of
this offer, and should the BUYER's loan application be denied, the BUYER shall have the
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