Doug Smith Realty & Auction Company
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Doug Smith Realty & Auction Company
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Walton Property Purchase Agreement ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Doug smith realty & auction co. 6641 Outville Road S.W., Outville, Ohio 43062 Phone: (740) 927-0000 - fax: (740) 927-0011 - www.smithsauctions.comReal Estate Purchase Agreement Utica, Ohio September 27, 2008 1.) The undersigned, hereinafter called the Purchaser, hereby offers to purchase from Tim Baker, POA for Elizabeth M. Walton, hereinafter called the Seller, the real estate and improvements located at 428 Mill Street, Utica, Ohio, together with all hereditaments, appurtenances, rights, privileges, and easements thereunto belonging, but subject to all legal highways, zoning ordinances, easements, restrictions, conditions of record, and rights of the aforesaid Seller. There are no contingencies as to financing or the sale of another property contained within this agreement. 2.) The Purchaser agrees to pay and the Seller agrees to sell the aforementioned real estate for the sum of _________________________________________($ ). An earnest money deposit in the amount of $1,500.00 accompanies this contract and is receipted below, with the Purchaser being prepared to close within thirty days after acceptance hereof. Possession of the real estate shall be granted to the Purchaser at the time of closing. 3.) The Seller shall provide and pay for an owner’s title insurance commitment and policy on the real estate in the amount of the purchase price. Any inspections pertaining to the property, either desired by the Purchaser, or required by the Purchaser’s lender, shall be at the sole expense of the Purchaser, and must have been completed prior to the date of the auction. It is acknowledged by the parties signing below that this real estate is being sold in its present physical condition, strictly “as-is” and “where-is”, including any and all faults, whether visible or not visible, known or unknown, with no warranties, either written or implied. 4.) The Seller shall pay pro-rated taxes on the real estate to the date of closing, based upon the current tax rate in effect as of January 1, 2008, and the conveyance fee. 5.) The Seller shall convey the real estate by good, sufficient and recordable warranty deed, or similar instrument with warranty covenants, with merchantable title to the real estate, free and clear of all liens and encumbrances. 6.) The Purchaser has deposited with the Broker, the sum of $1,500.00, which is hereby receipted and acknowledged below by the Broker. That deposit shall be disbursed by the Broker as follows: (1) If the Seller fails or refuses to perform the Seller’s part of the agreement, said deposit shall be returned forthwith by the Broker to the Purchaser; or (2) If the Purchaser fails or refuses to perform the Purchaser’s part of this agreement, said deposit shall be forfeited to the Seller as liquidated damages, which payment, or the acceptance thereof, shall not in any way prejudice the rights of either the Seller or Purchaser in any actions for damages of specific performance; or (3) The deposit shall be returned to the Purchaser at the time of closing, and may, at the Purchaser’s option, be applied toward the purchase price of the real estate. 7.) Upon acceptance of this agreement by the parties signing below, it shall become binding upon and accrue to the benefit of both the Purchaser and the Seller, and their respective heirs, executors, administrators, trustees, successors and assigns. It is understood that this written agreement and any attachments contain all the terms and conditions agreed upon between the parties, and that there are no outside terms, conditions, representations, warranties, or agreements. 8.) This offer is open for acceptance until midnight, September 27, 2008. NOTICE: Ohio Fair Housing Law: It is illegal, pursuant to the Ohio Fair Housing Law, Division (H), of Section 4112.02 of the Revised Code, and the Federal Fair Housing Law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease, or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations, because of race, color, religion, sex, familial status as defined in Section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sales or rental of housing, in the financing of housing, or in the provision of real estate brokerage services. It is also illegal for profit to induce or attempt to induce a person to sell or rent a dwelling by representation regarding the entry into the neighborhood of a person or persons belonging to one of the protected classes. Each party by signing below agrees to the terms of this agreement and acknowledges receipt of a fully executed copy. OFFER _____________________________________________________________________________ SIGNATURE OF PURCHASER ADDRESS OF PURCHASER PHONE NUMBER
____________________________________________________________________________ SIGNATURE OF PURCHASER ADDRESS OF PURCHASER PHONE NUMBER Deed to:_________________________ Purchaser’s Attorney____________________ Receipt is hereby acknowledged as agent for the Seller, of $1,500.00 from the Purchaser, (In Cash or by Check # ), as a deposit of earnest money, subject to all the terms of this agreement, for Doug Smith Realty & Auction Co., by:_________________________________. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ACCEPTANCE The Seller agrees to the above offer and agrees to all of the terms and further agrees to compensate Doug Smith Realty & Auction Co., the sum of $_______________________________, as a fee for professional auction and real estate services rendered herein.
__________________________________ __________________________________ SIGNATURE OF SELLER Date SIGNATURE OF SELLER Date
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