Mellott Homes

Your Perfect Partner for Your New View on Life

                                                                                                                          PURCHASE AGREEMENT 

                                                                OFFER, RECEIPT AND ACCEPTANCE

BUYER: The undersigned ___________________________________________________________________________________________________________

offers to buy the Property located at ___________________________________________________________________________________________________

along with the rental business that comes with the property. The buyer agrees to pay Sara Mellott Real Estate Dev LLC to continue manage the property. The buyer will pay Sara Mellott Real Estate Dev LLC the agreed management fees as follows _________________________________________________________

________________________________________________________________________________________________________________________________. The buyer shall be responsible for tax, all utitlities such as water, sewer, electricity, gas, internet, cable etc. Sara Mellott Real Estate Dev LLC will provide the following management services to the buyer ____________________________________________________________________________________________       ________________________________________________________________________________________________________________________________

The property, which BUYER accepts in its "AS IS" present physical condition, shall include the land, all appurtenant rights, privileges and easements, and all buildings and fixtures, including such of the following as are now on the property; all electrical, heating, plumbing and bathroom fixtures; all window and door shades, blinds, awnings, screens, storm windows, all landscaping, smoke detectors; all permanent attached carpeting.

The following items shall also remain: _________________________________________________________________________________________________    ________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________

The following items are excluded: _____________________________________________________________________________________________________

________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________

​PURCHASE PRICE : BUYER agrees to pay SELLER the sum of $___________________________________________________________ payable as follows: 

EARNEST MONEY  to be deposited to seller, and credited against the purchase price: ___________________________________________________________

Remainder of Buyer's down payment to be deposited in escrow, _____________________________________________________________________________

Balance in the form of cash to be paid via wire transfer ____________________________________________________________________________________

PRORATIONS: Taxes and assessments shall be prorated by the designated undersigned attorney or Escrow Agent_____________________________________ as pf the date of recordng of the Deed. taxes and assessments shall be prorated based upon the latest available tax duplicate. The attorney or the Escrow Agent shall withhold $________________________________________ from Seller to secure payment of the final water and sewer charges. The attorney or the Escrow Agent is instructed to either pay said charges to verify SELLER'S payment of said charges and remit any balance to SELLER.

NOTICES: SELLER warrants that SELLER has not received written notice of pending assessment for the Property, SELLER also warrants that SELLER has not received notice from the Sheriff or local law enforcement authorities of sex offenders occupying any adjacent property. BUYER agrees that it is BUYER'S obligation to inquire with the local Sheriff as to the most current registration of sex offenders.

CLOSING: Title work and Escrow to be completed by __________________________________________________. All documents and funds necessary to complete this transaction shall be placed in escrow with the designated attorney on or before _________/________/_________, and the Deed shall be recorded on or about ____________/______________/____________ , except that if a defect in Title appears, SELLER shall have thirty (30) days after notice to remove such defect and, if unable to do so, BUYER may either (1) accept Title subject to such defect without any deduction in the purchase price or (2) terminate this AGREEMENT, in which case neither BUYER nor SELLER shall have any further liability to each other, and both BUYER and SELLER agree to sign a mutual release, whereupon the earnest money shall be returned to BUYER.

POSSESSION: SELLER shall deliver possession and occupancy to BUYER on or before 6:00 pm ________________ days after recording of the Deed, or _____/______/________, whichever is later, BUYER agrees to transfer utilities commencing on the date of possession. If needed SELLER may rent property back from BUYER for a period of time not exceed ______________ days at the agreed  amount of $_________________________________________________

TITLE: SELLER shall furnish a QUICK CLAIM DEED to BUYER, conveying the Property to BUYER free and clear of all liens and encumbrances whatsoever except (a) such enroachments and recorded restrictions, easements and conditions, (b) zoning ordinances, if any; and any taxes and assessments which are a lien on the Property but are not yet payable. 

CHARGES: 

SELLER shall pay the following costs through escrow: (1) 1/2 of the Escrow Fee;  (2) 1/2 of the Attorney Fee; (3) the amount due to discharge any liens on the Property and to record cancellation thereof; (4) any government conveyance or transfer tax; (5) the prorations due BUYER under this AGREEMENT.

BUYER shall deposit into escrow the additional amount outside purchase price to cover the following costs and pay the following costs through escrow:  (1) 1/2 of the Escrow Fee; (2) 1/2 of the Attorney Fee; (3) deed preparation (4) recording the deed (5) local survey (6) all costs that are due from BUYER.

COMMISSION: ___________________________________________________________________________________________________________________

INSPECTION: It is BUYER'S responsibility to inspect the property before signing this purchase agreement. Once the agreement is signed, it is BUYER'S and SELLER's responsibility to follow through the agreement. If BUYER changes mind after the agreement is signed, the earnest money and down payment are not refundable unless SELLER had not transferred the title to BUYER at agreed or reasonable time frame. If the title is not transferred due to the situation out of human control, SELLER shall be given additional time to transfer the title to BUYER.

ADDENDA: The following Addenda are attached hereto and made apart hereof; Lead-Based Paint Disclosure, and Residential Property Disclosure.

BINDING AGREEMENT: For purpose of the agreement, "Days" shall be defined as calendar days. "Acceptance" shall occur when the latter of the parties signs this Agreement without making material change and then delivers either written or verbal notice of such signatures to the other party. Upon Acceptance, this offer and all attachments and addenda, shall become an Agreement binding on BUYER and SELLER. This AGREEMENT shall be made part of or be used as escrow instructions and shall be subject to the Escrow Agent's Standard conditions of escrow not inconsistent herewith.

_______________________________________________________        _____________________________________________________________________

Buyer                                                                                                             Seller

______________________________________________________         ______________________________________________________________________

Buyer                                                                                                           Seller

_______________________________________________________      ______________________________________________________________________

Address                                                                                                       Address

______________________________________________________        ______________________________________________________________________

______________________________________________________        ______________________________________________________________________

______________________________________________________        ______________________________________________________________________

Phone number                                                                                             Phone number

______________________________________________________        ______________________________________________________________________

Email Address                                                                                             Email Address

_____________________________________________________          _____________________________________________________________________

​Date                                                                                                            Date 

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