Pa Real Estate Seller Form – Fill Out and Use This PDF

standard agreement fOr the sale Of Vacant land	asVl

This form recommended and approved for, but not restricted to use by, the members of the Pennsylvania Association of REALTORS® (PAR).

Parties

PrOPerty

PROPERTy ADDRESS ____________________________________________________________________________________________

__________________________________________________________________________________ ZIP _________________________,

in the municipality of __________________________________________________________, County of__________________________,

in the School District of ___________________________________________________________, in the Commonwealth of Pennsylvania.

Identification (e.g., Tax ID #; Parcel #; Lot, Block; Deed Book, Page, Recording Date): _________________________________________

________________________________________________________________________________________________________________

Buyer’s relatiOnshiP With Pa licensed BrOKer

no Business relationship (Buyer is not represented by a broker)

Broker (Company) _______________________________________	Licensee(s) (Name) ________________________________________
_______________________________________	________________________________________
Company Address _______________________________________	Direct Phone(s) ___________________________________________
_______________________________________	Cell Phone(s) ___________________________________________
Company Phone _________________________________________	Fax ___________________________________________________
Company Fax _________________________________________	Email ___________________________________________________
Broker is:	Licensee(s) is:
Buyer Agent (Broker represents Buyer only)	Buyer Agent with Designated Agency
Dual Agent (See Dual and/or Designated Agent box below)	Buyer Agent without Designated Agency
	Dual Agent (See Dual and/or Designated Agent box below)

Transaction Licensee (Broker and Licensee(s) provide real estate services but do not represent Buyer)

seller’s relatiOnshiP With Pa licensed BrOKer

no Business relationship (seller is not represented by a broker)

Transaction Licensee (Broker and Licensee(s) provide real estate services but do not represent Seller)

dual and/Or designated agency

A Broker is a Dual Agent when a Broker represents both Buyer and Seller in the same transaction. A Licensee is a Dual Agent when a Licensee represents Buyer and Seller in the same transaction. All of Broker’s licensees are also Dual Agents UNLESS there are separate Designated Agents for Buyer and Seller. If the same Licensee is designated for Buyer and Seller, the Licensee is a Dual Agent.

By signing this agreement, Buyer and seller each acknowledge having been previously informed of, and consented to, dual agency, if applicable.

Buyer initials:_________/_________asVl Page 1 of 11seller initials:_________/_________

revised 2/12

cOPyright PennsylVania assOciatiOn Of realtOrs® 2012

2/12

11. By this agreement, dated ________________________________________________________________________, 2 seller hereby agrees to sell and convey to Buyer, who agrees to purchase, the identified Property.

3 2. Purchase Price and dePOsits (2-12)

4 (A) Purchase Price $ __________________________________________________________________________________________

5(

6__________________________________________________________________ U.S. Dollars), to be paid by Buyer as follows:

7	1.	Deposit at signing of this Agreement:			$	____________________________________
8	2.	Deposit within       days of the Execution Date of this Agreement:			$	____________________________________

93. ____________________________________________________________ $ ____________________________________

104. Remaining balance will be paid at settlement.

11(B) all funds paid by Buyer, including deposits, will be paid by check, cashier’s check or wired funds. all funds paid by Buyer

12within 30 days of settlement, including funds paid at settlement, will be by cashier’s check or wired funds, but not by per-

13sonal check.

14(C) Deposits, regardless of the form of payment and the person designated as payee, will be paid in U.S. Dollars to Broker for Seller

15(unless otherwise stated here: ____________________________________________________________________________),

16who will retain deposits in an escrow account in conformity with all applicable laws and regulations until consummation or ter-

17mination of this Agreement. Only real estate brokers are required to hold deposits in accordance with the rules and regulations of

18the State Real Estate Commission. Checks tendered as deposit monies may be held uncashed pending the execution of this

19Agreement.

203. seller assist (if applicable) (2-12)

21Seller will pay $___________________________________ or _______________ % of Purchase Price (0 if not specified) toward

22Buyer’s costs, as permitted by the mortgage lender, if any. Seller is only obligated to pay up to the amount or percentage which is

23approved by mortgage lender.

244. settlement and POssessiOn (2-12)

25(A) Settlement Date is ___________________________________________________________, or before if Buyer and Seller agree.

26(B) Settlement will occur in the county where the Property is located or in an adjacent county, during normal business hours, unless

27Buyer and Seller agree otherwise.

28(C) At time of settlement, the following will be pro-rated on a daily basis between Buyer and Seller, reimbursing where applicable:

29current taxes (see Notice Regarding Real Estate Taxes); rents; interest on mortgage assumptions; water and/or sewer fees, together

30with any other lienable municipal service fees. All charges will be pro-rated for the period(s) covered. Seller will pay up to and

31including the date of settlement and Buyer will pay for all days following settlement, unless otherwise stated here: ___________

32________________________________________________________________________________________________________

33(D) Conveyance from Seller will be by fee simple deed of special warranty unless otherwise stated here: ______________________

34________________________________________________________________________________________________________

35(E) Payment of transfer taxes will be divided equally between Buyer and Seller unless otherwise stated here:___________________

36________________________________________________________________________________________________________

37(F) Possession is to be delivered by deed, existing keys and physical possession to a vacant Property free of debris, with all structures

38broom-clean, at day and time of settlement, unless Seller, before signing this Agreement, has identified in writing that the Property

39is subject to a lease.

40(G) If Seller has identified in writing that the Property is subject to a lease, possession is to be delivered by deed, existing keys and

41assignment of existing leases for the Property, together with security deposits and interest, if any, at day and time of settlement. Seller

42will not enter into any new leases, nor extend existing leases, for the Property without the written consent of Buyer. Buyer will

43acknowledge existing lease(s) by initialing the lease(s) at the execution of this Agreement, unless otherwise stated in this Agreement.

445. dates/time is Of the essence (2-12)

45(A) Written acceptance of all parties will be on or before: ____________________________________________________________

46(B) The Settlement Date and all other dates and times identified for the performance of any obligations of this Agreement are of the

47essence and are binding.

48(C) The Execution Date of this Agreement is the date when Buyer and Seller have indicated full acceptance of this Agreement by sign-

49ing and/or initialing it. For purposes of this Agreement, the number of days will be counted from the Execution Date, excluding

50the day this Agreement was executed and including the last day of the time period. all changes to this agreement should be ini-

51tialed and dated.

52(D) The Settlement Date is not extended by any other provision of this Agreement and may only be extended by mutual written agree-

53ment of the parties.

54(E) Certain terms and time periods are pre-printed in this Agreement as a convenience to the Buyer and Seller. All pre-printed terms

55and time periods are negotiable and may be changed by striking out the pre-printed text and inserting different terms acceptable

56to all parties.

576. ZOning (5-01)

58Failure of this Agreement to contain the zoning classification (except in cases where the property {and each parcel thereof, if subdi-

59vidable} is zoned solely or primarily to permit single-family dwellings) will render this Agreement voidable at Buyer’s option, and, if

60voided, any deposits tendered by the Buyer will be returned to the Buyer without any requirement for court action.

61Zoning classification: ________________________________________________________________________________________

62 Buyer initials:___________/___________

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seller initials:___________/___________

637. fixtures and PersOnal PrOPerty (5-01)

64(A) INCLUDED in this sale are all existing items permanently installed in the Property, free of liens. Also included: ____________

65_______________________________________________________________________________________________________

66(B) The following items are LEASED (not owned by Seller): ________________________________________________________

67_______________________________________________________________________________________________________

68(C) EXCLUDED fixtures and items: ____________________________________________________________________________

69______________________________________________________________________________________________________

708. mOrtgage cOntingency (2-12)

71	WAIVED. This sale is NOT contingent on mortgage financing, although Buyer may obtain mortgage financing and/or the par-

72ties may include an appraisal contingency.

73 ELECTED.

74(A) This sale is contingent upon Buyer obtaining mortgage financing according to the following terms:

125 Buyer initials:___________/___________

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seller initials:___________/___________

126(F) If the mortgage lender(s), or a property and casualty insurer providing insurance required by the mortgage lender(s), requires repairs

127

to the Property, Buyer will, upon receiving the requirements, deliver a copy of the requirements to Seller. Within

5

DAyS of

128receiving the copy of the requirements, Seller will notify Buyer whether Seller will make the required repairs at Seller’s expense.

1291. If Seller makes the required repairs to the satisfaction of the mortgage lender and/or insurer, Buyer accepts the Property and

130agrees to the RELEASE in Paragraph 26 of this Agreement.

131		2.	If Seller will not make the required repairs, or if seller fails to respond within the stated time, Buyer will, within						5
132			DAyS, notify Seller of Buyer’s choice to:
133			a. Make the repairs/improvements at Buyer’s expense, with permission and access to the Property given by Seller, which
134			will not be unreasonably withheld, OR
135			b. Terminate this Agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms of
136			Paragraph 24 of this Agreement.
137			if Buyer fails to respond within the time stated in Paragraph 8(f)(2) or fails to terminate this agreement by written notice
138			to seller within that time, Buyer will accept the Property and agree to the release in Paragraph 26 of this agreement.
139	9. change in Buyer’s financial status (2-12)
140	In the event of a change in Buyer’s financial status affecting Buyer’s ability to purchase, Buyer shall promptly notify Seller and
141	lender(s) to whom the Buyer submitted mortgage application, if any. A change in financial status includes, but is not limited to, loss
142	or a change in employment; failure or loss of sale of Buyer’s home; Buyer’s having incurred a new financial obligation; entry of a
143	judgment against Buyer. Buyer understands that applying for and/or incurring an additional financial obligation may affect
144	Buyer’s ability to purchase.
145	10. seller rePresentatiOns (2-12)
146	(A) status of Water
147		Seller represents that the Property is served by:
148			Public Water	Community Water	On-site Water	None	________________________________________
149	(B) status of sewer
150		Seller represents that the Property is served by:
151			Public Sewer	Community Sewage Disposal System			Ten-Acre Permit Exemption (see Sewage Notice 2)
152			Individual On-lot Sewage Disposal System (see Sewage Notice 1)				Holding Tank (see Sewage Notice 3)
153			Individual On-lot Sewage Disposal System in Proximity to Well (see Sewage Notice 1; see Sewage Notice 4, if applicable)
154			None (see Sewage Notice 1)		None Available/Permit Limitations in Effect (see Sewage Notice 5)
155			_____________________________________________________________________________________________________
156	(C) historic Preservation
157		Seller is not aware of historic preservation restrictions regarding the Property unless otherwise stated here: _________________
158		_______________________________________________________________________________________________________
159	(D)		Property, or a portion of it, is preferentially assessed for tax purposes under the following Act(s) (see Notices Regarding Land
160			Use Restrictions):
161			Farmland and Forest Land Assessment Act (Clean and Green Program; Act 319 of 1974; 72 P.S. § 5490.1 et seq.)
162			Open Space Act (Act 442 of 1967; 32 P.S. § 5001 et seq.)
163			Agricultural Area Security Law (Act 43 of 1981; 3 P.S. §901 et seq.)
164			Other _____________________________________________________________________________________________
165	(E)	Seller represents that, as of the date Seller signed this Agreement, no public improvement, condominium or homeowner associa-
166		tion assessments have been made against the Property which remain unpaid, and that no notice by any government or public
167		authority has been served upon Seller or anyone on Seller’s behalf, including notices relating to violations of zoning, housing,
168		building, safety or fire ordinances that remain uncorrected, and that Seller knows of no condition that would constitute a viola-
169		tion of any such ordinances that remain uncorrected, unless otherwise specified here: __________________________________
170		_______________________________________________________________________________________________________
171	(F)	Seller knows of no other potential notices (including violations) and/or assessments except as follows: ____________________
172		_______________________________________________________________________________________________________
173	(G) Access to a public road may require issuance of a highway occupancy permit from the Department of Transportation.
174	11. WaiVer Of cOntingencies (9-05)
175	if this agreement is contingent on Buyer’s right to inspect and/or repair the Property, or to verify insurability, environmental
176	conditions, boundaries, certifications, zoning classification or use, or any other information regarding the Property, Buyer’s
177	failure to exercise any of Buyer’s options within the times set forth in this agreement is a WaiVer of that contingency and
178	Buyer accepts the Property and agrees to the release in Paragraph 26 of this agreement.
179	12. insPectiOns (2-12) (See Notices Regarding Property and Environmental Inspections)
180	(A) rights and responsibilities
181		1. Seller will provide access to insurers’ representatives and, as may be required by this Agreement or by mortgage lender(s), to
182			surveyors, municipal officials, appraisers and inspectors. All parties and their real estate licensee(s) may attend any inspec-
183			tions.
184		2.	Buyer may make a pre-settlement walk-through inspection of the Property. Buyer’s right to this inspection is not waived by
185			any other provision of this Agreement.
186		3.	Buyer and/or anyone on the Property at Buyer’s direction or on Buyer’s behalf, will leave the Property in the same condition
187			as when they arrived unless otherwise agreed upon by the parties. Buyer bears the risk of restoring or repairing the Property
188			or reimbursing Seller for any loss of value.
189		4.	All inspectors, including home inspectors, are authorized by Buyer to provide a copy of any inspection Report to Broker for
190			Buyer.
191		5.	Seller has the right, upon request, to receive a free copy of any inspection Report from the party for whom it was prepared.

192 Buyer initials:___________/___________

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seller initials:___________/___________

193(B) Buyer waives or elects at Buyer’s expense to have the following inspections, certifications, and investigations (referred to as

194“Inspection” or “Inspections”) performed by professional contractors, home inspectors, engineers, architects and other properly

195licensed or otherwise qualified professionals. If the same inspector is inspecting more than one system, the inspector must com-

196ply with the Home Inspection Law. (See Notice Regarding the Home Inspection Law)

197(C) For elected Inspection(s), Buyer will, within the Contingency Period(s) stated in Paragraph 13(A), complete Inspections, obtain any

198Inspection Reports or results (referred to as “Report” or “Reports”), and accept the Property, terminate this Agreement, or submit a

199Written Corrective Proposal(s) to Seller, according to the terms of Paragraph 13(B).

200Property inspections and environmental hazards

201	elected	Buyer may have a licensed or otherwise qualified professional conduct an inspection of the Property’s water pene-	Waived
202	____/____	tration; electromagnetic fields; wetlands and flood plain delineation; structure square footage; mold and other envi-	____/____

203ronmental hazards (e.g., fungi, indoor air quality, asbestos, underground storage tanks, etc.); and any other items

204Buyer may select.

205Water service

206	elected	Buyer may obtain an Inspection of the quality and quantity of the water system from a properly licensed or otherwise	Waived
207	____/____	qualified water/well testing company. If and as required by the existing inspection company, Seller, at Seller’s expense,	____/____

208will locate and provide access to the on-site (or individual) water system. Seller will restore the Property to its previous

209condition, at Seller’s expense, prior to settlement.

210connection to Off-site Water source

211	elected	Buyer may determine the terms of connecting the Property to an off-site water source available through (Name of	Waived
212	____/____	Service Provider): ______________________________________________________. (See Paragraph 14)	____/____
213		On-lot sewage (if applicable)
214	elected	Buyer may obtain an Inspection of the individual on-lot sewage disposal system from a qualified, professional	Waived
215	____/____ inspector. If and as required by the existing inspection company, Seller, at Seller’s expense, will locate, provide		____/____

216access to, and empty the individual on-lot sewage disposal system. Seller will restore the Property to its previous

217condition, at Seller’s expense, prior to settlement. See paragraph 13(C) for more information regarding the

218Individual On-lot Sewage Inspection Contingency.

219connection to Off-site sewage disposal system

220	elected Buyer may determine whether the terms of connecting the Property to an off-site sewage disposal system through	Waived
221	____/____ (Name of Service Provider): ______________________________________________________________ are accept-	____/____

222able to Buyer. (See Paragraph 15)

223Property insurance

224	elected Buyer may determine the insurability of the Property by making application for property and casualty insurance for	Waived
225	____/____ the Property to a responsible insurer. Broker for Buyer, if any, otherwise Broker for Seller, may communicate with	____/____

226the insurer to assist in the insurance process. If the Property is located in a flood plain, Buyer may be required to

227carry flood insurance at Buyer’s expense, which may need to be ordered 14 days or more prior to Settlement Date.

228Property Boundaries

229	elected Buyer may engage the services of a surveyor, title abstractor, or other qualified professional to assess the legal	Waived
230	____/____ description, certainty and location of boundaries and/or quantum of land. Most Sellers have not had the Property	____/____

231surveyed as it is not a requirement of property transfer in Pennsylvania. Any fences, hedges, walls and other natural

232or constructed barriers may or may not represent the true boundary lines of the Property. Any numerical represen-

233tations of size of property are approximations only and may be inaccurate.

234deeds, restrictions and Zoning

235	elected	Buyer may investigate easements, deed and use restrictions (including any historic preservation restrictions or ordi	Waived
236	____/____	nances) that apply to the Property and review local zoning ordinances. Buyer may verify that the present use of the	____/____

237Property (such as in-law quarters, apartments, home office, day care) is permitted and may elect to make the

238Agreement contingent upon an anticipated use. Present use:_____________________________________________

239Other

240	elected	__________________________________________________________________________________________	Waived
241	____/____	__________________________________________________________________________________________	____/____

242__________________________________________________________________________________________

243The Inspections elected above do not apply to the following existing conditions and/or items: _________________________________

244_____________________________________________________________________________________________________________

245_____________________________________________________________________________________________________________

24613. insPectiOn cOntingency (2-12)

247(A) The Contingency Period is       days (10 if not specified) from the Execution Date of this Agreement for each Inspection elect-

248ed in Paragraph 12(C), except the following:

249

Inspection(s)

Contingency Period

250______________________________________________________________ ________________________________ days

251______________________________________________________________ ________________________________ days

252______________________________________________________________ ________________________________ days

253______________________________________________________________ ________________________________ days

254(B) Except as stated in Paragraph 13(C), if the result of any Inspection elected in Paragraph 12(C) is unsatisfactory to Buyer, Buyer

255will, within the stated contingency Period:

2561. Accept the Property with the information stated in the Report(s) and agree to the RELEASE in Paragraph 26 of this Agreement, OR

2572. terminate this agreement by written notice to Seller, with all deposit monies returned to Buyer according to the terms of

258Paragraph 24 of this Agreement, OR

259 Buyer initials:___________/___________

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seller initials:___________/___________