Sample Real Estate Contract
 

 1.  DESCRIPTION;  TAX ID NUMBER ________________________________________________________________

LOT(s) #______________________, BLOCK #______________, PORT ST. LUCIE SECTION #_____________

AS RECORDED IN THE PUBLIC RECORDS OF ST. LUCIE COUNTY, FLORIDA;

                       Address:_______________________________________________________________________________________________________
                       Port St. Lucie, Florida

2.       PURCHASE PRICE  ……………………………………………………………......$___________________

   PAYMENT:

(a)    Deposit to be held in escrow by First American Title Insurance Company,

201 SW Port St. Lucie Blvd., Suite 205, Port St. Lucie, FL 34984, Telephone:

(772) 878-8700, Fax (772) 340-3362; in the amount of……………………….......……………….…...........................................$__________________

(b)    If subject to Mortgage & Note in the approximate amount of……………………………...……...................................................$__________________

Buyer agrees to make application for such loan within three (3) working days, unless

extended, to diligently pursue said loan and to accept it if approved. If a loan cannot be

secured, the Buyer agrees to notify the Seller in writing within ten (10) working days

after effective date and this Contract shall terminate and any deposit refunded. 

(c)     Balance to close (U.S. $ cash or LOCALLY DRAWN certified funds) subject to prorating:

         ………………..……………...................………………………....………… $__________________

3      TIME FOR ACCEPTANCE; EFFECTIVE DATE: If this Real Estate Contract (“Contract”) is not

executed by the Seller and the Buyer on or before.............._________/_________/_________,

        the aforesaid deposit(s) shall, at the option of the Buyer, be returned to Buyer and this Contract shall be null

        and void, and all rights thereunder shall cease. The date of the Contract, (“Effective Date”) shall be the date

when the last one of Seller and Buyer(s) has signed this Contract.

4.     CLOSING DATE: This transaction shall be closed on........._________/_________/_________,

        unless extended.

5.     RESTRICTIONS; EASEMENTS; LIMITATIONS; SPECIAL ASSESSMENTS: Buyer shall take title subject to zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the plat, in the public records, or otherwise stated herein. Buyer specifically acknowledges that the subject property is located in a SPECIAL ASSESSMENT DISTRICT and is now or will be subject to a SPECIAL ASSESSMENT LIEN for certain improvements in that district. Buyer agrees to take title subject to and be solely responsible for payment of any assessment established, whether or not assessment is pending, certified, ratified, or confirmed prior to the date of closing, and the Buyer specifically releases the seller of any requirement for payment on said SPECIAL ASSESSMENT.

6.     VACANT LAND:  All parties involved in this contract of the subject vacant property acknowledge that the details of the intended use of the property, and the improvements to be constructed thereon, are best known to the Buyer. Accordingly, the Seller makes no representations or warranties whatsoever (except for the general use designation). The Buyer shall be solely responsible to verify the property size, elevation, soils and/or other conditions; and that the property can be used for specific needs and that they can obtain building and other permits needed to construct the contemplated improvements. The Buyer shall have ten (10) working days after effective date to make those determinations. In the event the Buyer finds the property unusable for their intended use per zoning restrictions and notifies the Seller in writing within ten (10) working days after effective date, then this Contract shall terminate and Buyer shall be refunded the deposit(s).

7.     AD VOLOREM TAX AND NON-AD VOLOREM ASSESSMENTS: Taxes and current assessments shall be prorated through the day before closing. If closing occurs at a date when the current year’s millage is not fixed and current year’s assessments are available, taxes will be prorated based upon such assessment and prior year’s millage. If current year’s assessments are not available, then taxes and assessments will be prorated using the prior year’s tax bill as furnished by the St. Lucie County Tax Collector. All ad volorem taxes are collected in arrears and shall be prorated to/from January 1, 2008. City of Port St. Lucie storm water and street lighting assessments are collected in advance and shall be prorated to/from October 1, 2008. City of Port St. Lucie water/sewer MSBU assessments are collected in advance and shall be prorated to/from November 1, 2008.

8.     CLOSING COST: At closing Buyer shall pay the premium for the Owner’s Policy of Title Insurance and for preparation of all documents necessary with perfecting title, as provided by the Closing Agent. Seller shall provide the closing statement, deed, lien affidavit, mortgage, mortgage note, security agreement and other documents required at closing, and Buyer shall pay the costs of preparation, documentary stamps and recording fees of/on all of the above, approximating:      $_______________
 

9.     DEFAULT BY THE BUYER: In the event the sale hereunder is not closed by reason of Buyer’s failure to perform any covenant of this agreement, then upon written notice from the Seller, Closing Agent shall deliver all the Earnest Money held in Trust by the Closing Agent to Seller as liquidated damages for Buyer’s default hereunder.

10.   DEFAULT BY SELLER: In the event the sale hereunder is not closed by reason of Seller’s default hereunder, the parties hereto agree that the Buyer’s exclusive remedy shall be to seek refund of the Earnest Money. In no event shall the Seller be liable for any damages, special, incidental or consequential. Buyer acknowledges that this remedy constitutes an adequate remedy in law and Buyer specifically waives any and all right to file or record any lis pendens, lien or encumbrance. This agreement shall not be recorded in the Public Records of any county.
 

11.   TIME IS OF THE ESSENCE: Time is of the essence in this agreement.
 

THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.

                                                                                                                                                                                 

BROKER’S FEE: No broker/facilitator shall be entitled to compensation in connection with this contract.

Sample Contract