Virginia Residential Purchase Agreement - A purchase and sale contract only for residential real estate transactions. The contract to purchase and sell commercial real estate in Virginia contains the terms of the sale of commercial real estate. The agreement serves as a tool for the buyer to share his offer with the seller. After checking the proposed conditions (for example. B the purchase plan, the purchase price, the financing requirements, the serious money), the seller can choose to accept the offer, refuse the offer or continue the negotiation process by filing a counter-proposal with the necessary changes. Both the buyer and the seller are legally bound by the terms of the contract as soon as the negotiations are concluded and the parties have signed. 4 the seller or buyer, or threaten the sustainability of the property for commercial purposes. 7. Representations and guarantees of the seller. The seller, in solidarity (if more than one seller), insures and guarantees to the buyer at the time of this agreement and on the date of settlement: A. Authority and marketable property.
The seller owns the property, has the necessary authority to enter into and execute this contract and has the absolute right to sell, transfer and transfer the property to the purchaser in the colony. B. No pending litigation or bankruptcy. There are no lawsuits, lawsuits or proceedings in legal funds or equity that are pending before or by federal, regional, local or other authorities, commissions, boards of directors, offices, agencies or instrumental departments before or by a federal, national, local or other government authority, Commission, management, office, agency or instrumentality, or that affect the property. No bankruptcy or similar act, voluntary or involuntary, is pending or threatened against the seller, and the seller does not intend to file or initiate such an action within 90 days of the count. C. No current purchase option. No option, right of first refusal or other contractual possibility to acquire the property has been granted or executed with a third party that is enforceable against the seller and/or the property that gives such a third party the right to acquire a stake in or part of the property.
D. No communication on repairs. The seller has not received a written notification from a government agency that repairs, modifications or corrections of the property must be made. E. Utilities. The property is connected to [select one]: a communal water and canal system and has installed supply meters inside the property or a well and a sewage treatment plant on the ground. The seller does not provide any indication as to whether the capacity of these services is sufficient for the expected use of the property by the purchaser. F. Dangerous substances. In its soul and conscience, no toxic or dangerous substances (as defined in current federal or regional laws) have been used, unloaded or stored on or through the property in violation of these laws and, to the seller`s knowledge, such toxic or dangerous substances are now or be found under the surface of the land. There are no oil storage tanks on or below the surface of the property. G.
Detained parties. As of the date of the transaction, there is no adverse or other party in possession of the property or part of it, nor a licence, rental or other right or any other interest related to the use or ownership of the property or part of it has not been granted to any party, except for the leases entered into it under the name OF SCHEDULE. Other contracts are included. The seller is not a part of contracts relating to the property that cannot be terminated as he sees fit, except as revealed on SCHEDULE B, which is associated with it and has been part of it. Between the date of this agreement and the billing date, the seller will not enter into a property contract without the prior written consent of the buyer whose agreement is not unduly accepted, which cannot be terminated at his convenience.
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