Question
You are one of several paralegals working in a real estate office. Your firm currently represents Vincent Domino and he had finally received an offer
You are one of several paralegals working in a real estate office. Your firm currently represents Vincent Domino and he had finally received an offer that he has accepted (the Offer To Purchase is attached hereto), so now the paperwork begins. The numerous, subsequent tasks have been distributed among the various paralegals in your firm. Using the details contained in the Offer To Purchase, you have been asked to draft the following documents in this effort:
- A General Warranty Bill of Sale
- An Affidavit of Title
- An Assignment of Warranties
- An Agreement Regarding Loan Commitment
Feel free to seek out examples online so that you may get a feel for tone, language and format, but be sure to paraphrase any language from those samples that you might employ (the motions should be drafted as a opposed to filling out a template). Good luck and feel free to come to me with any questions.
reference
Offer to Purchase Real Estate.docx
https://keiseruniversity.blackboard.com/bbcswebdav/pid-25507279-dt-content-rid-123829628_1/xid-123829628_1
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Offer to Purchase Real Estate
THIS OFFER TO PURCHASE REAL ESTATE (the "Offer") IS MADE BY:
Sacha Lawrence of 1988 Green Ave, Athens, GA 30606
(the "Buyer")
OF THE FIRST PART
-TO-
Vincent Domino of 84 Reckoning Way, Weston, FL 33326
(the "Seller")
OF THE SECOND PART
Background
The Buyer wishes to submit an offer to purchase a certain completed home from the Seller under the terms stated below.
IN CONSIDERATION OFand as a condition of the Seller selling the Property and the Buyer purchasing the Property (collectively the "Parties") and other valuable consideration the receipt of which is hereby acknowledged, the Parties to this Offer to Purchase Real Estate agree as follows:
Real Property
- The legal description of the Property is as follows: 1337 SEAGRAPE CIR, WESTON, FL 33326
COUNTRY ISLES GARDEN HOMES 128*11 B LOT 18 BLK 3, which includes the fixtures and improvement located on the Property that are listed within this Offer. All property included within this Offer is referred to as "Property".
Sales Price
- The total purchase price of $430,000.00 (the "Purchase Price") that is to be paid for the Property by the Buyer is payable as follows:
- The initial earnest deposit (the "Deposit") accompanying the offer is $86,000.00.The Deposit will be paid by cash on or before (insert date three days from today). The Deposit will be held in escrow by Marty Ginn until the sale is closed, at which time this money will be credited to the Buyer, or until this Offer is otherwise terminated; and
- The balance of the Purchase Price will be paid in cash or equivalent in financing at closing unless otherwise provided in this Offer. The balance will be subject to adjustments.
Closing & Possession
- The Closing Date will be on or be prior to (insert date two months from today) or at such other time agreed by the Parties, at which point the Buyer will take possession of the Property.
Conditions
- The Buyer's obligation to purchase the Property is contingent upon the following enumerated conditions (s):
- A home inspection satisfactory to the Buyer must be completed to determine the overall condition and habitability of the Property, as well as the expected cost to make any and all repairs to the Property. The cost of the home inspection will be covered by the Buyer.The home inspection must be completed and notice of satisfaction provided to the Seller by (insert date one month from today). The Buyer can always waive this condition on or before (insert date one month from today).
- The Seller must provide the Buyer with proof of marketable title to the Property which is free and clear of all claims by other individuals against the Property by the Closing Date.
- Before the Closing Date, the property must be appraised at a value that is equivalent to or more than the total purchase price. The cost of the appraisal will be covered by the Buyer. The Buyer can always waive this condition on or before the Closing Date.
- The Seller must complete a disclosure form containing at least the disclosures required by the laws of Florida. Notice of the completion of the disclosure form must be provided to the Buyer on or before (insert date one month from today). The Buyer can always waive this condition on or before (insert date one month from today).
- Within thirty days of the acceptance of this Offer, the Buyer will apply to obtain a new loan in the amount of $344,000.00 for a term of three hundred and sixty months, amortized for thirty years. The aforementioned loan's interest will not exceed 1.75% per annum. The Buyer can always waive this condition on or before the Closing Date.
- The Seller must obtain for the Buyer, at the Seller's expense, all certificates of inspection, certificates of occupancy, or the like required under the terms of any local ordinances by the Closing Date.
- The Seller must complete, on or before (insert date one month from today) the following list of repair(s): 7 broken roof tiles must be replaced, pool filter must be repaired. Repairs are to be performed at the Seller's expense and may be performed by the Seller or through third parties, provided that the work complies with applicable statutes. All repairs will be performed competently and in a skillful manner with materials of quality and appearance comparable to the existing materials. It is understood by both Parties that exact restoration to the original appearance of the Property may not be possible. The Buyer may always waive this condition on or before the Closing Date, however such wavier will not remove the Seller's obligation to still complete the above repairs but will be an extension for a reasonable period to complete them.
- By the Closing Date, the Seller must provide evidence that the Property has been zoned appropriately for the uses and purposes which the Buyer intends to make of the Property. The Buyer can always waive this condition on or before the Closing Date.
Notices
All notices pursuant to this Offer must be written and signed by the respective party or its agent and all such correspondence will be effective upon it being mailed with return receipt requested, hand-delivered, or transmitted by facsimile as follows:
Buyer Seller
Name: Sacha Lawrence Name: Vincent Domino
Address: 1988 Green Ave, Athens, GA 30606 Address: 84 Reckoning Way, Weston, FL 33326
Phone: (706) 488-7823 Phone: (954) 664-8522
Email: &..e@gmail.com Email: L..t@yahoo.com
Severability
If any terms or provisions of this Offer will, to any extent, be determined to be invalid or unenforceable by a courtof competent jurisdiction, the remainder of this Offer will not be affected and each unaffected term and provision of this Offer will remain valid and enforceable to the fullest extent permitted by law.
Time of Essence
Time is of the essence in this Offer. Every calendar day except Saturday, Sunday or a US national holiday will be deemed a business day and all relevant time periods in this Offer will be calculated in business days. Performance will be due the next business day in any deadline falls on a Saturday, Sunday or a US national holiday. A business day end at 5:00 p.m. local time in the time zone in which the property is situated.
Buyer's Offer
This is an offer to purchase the Property on the above terms and conditions. The Seller has the right to continue to offer the property for sale and to accept any other offer at any time prior to acceptance by the Seller. If the Seller does not accept this offer, from the buyer by (insert date three days from today), this offer will lapse and become of no force or effect.
Buyer: _Sacha Lawrence____ Date: __(assume yesterday's date)__
Buyer's Name: Sacha Lawrence
Address: 1988 Green Ave, Athens, GA 30606
Phone: (706)-488-7823
Seller's Acceptance
__X __ Acceptance of offer to purchase: The Seller accepts the foregoing offer on the terms and conditions specified above and agrees to convey Property to the Buyer.
_Vincent Domino__ Date: __(assume today's date)__
Seller's Signature
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