Sample Purchase Agreement : simplebooklet.com

PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORS which disclaims any liability arising out of use or misuse of this form 2024 Minnesota Association of REALTORS 1 Date 2 Page 1 3 BUYER S 4 5 B u y e r s e a r n e s t m o n e y i n t h e a m o u n t o f 6 Dollars 7 shall be delivered to listing broker or if checked to no later than two 2 Business Earnest Money Holder 8 Days after Final Acceptance Date Buyer and Seller agree that earnest money shall be deposited in the trust account of HYULZ 4VUL VSKLYHZZWLJP LKHIV L P OPU OYLL ZPULZZ H ZVMYLJLPW VM OLLHYULZ TVUL VY PUHS 10 Acceptance Date whichever is later 11 Said earnest money is part payment for the purchase of the property located at 12 Street Address 13 City of County of 14 State of Minnesota Zip Code legally described as 15 HPKW YJOHZLZOHSSPUJS KLHSSPTWYV LTLU Z _ YLZHUKHWW Y LUHUJLZVU OLWYVWLY PMHU PUJS KPUNI UV 17 limited to the following collectively the Property garden bulbs plants shrubs trees lawn watering systems PUNYV UKWL JVU HPUTLU Z Z LTZL_JS KPUNJVSSHYZ ZOLKZ WSH ZL Z Z VYTZHZOLZZ VYTKVVYZZJYLLUZHUK H UPUNZ PUKV ZOHKLZHUKISPUKZ YH LYZLZJ Y HPUHUKKYHWLY YVKZ HSHUJLZKYHWLYPLZJ Y HPUZHUK PUKV JV LYPUNZHUK YLH TLU Z V LSYVKZ H HJOLKSPNO PUNHUKI SIZ MHU _ YLZ WS TIPUN _ YLZ NHYIHNLKPZWVZHSZ H LYZVM LULYZ H LY YLH TLU Z Z LTZ H LYOLH PUNZ Z LTZ OLH PUNZ Z LTZ HPYL_JOHUNLZ Z LTZ LU PYVUTLU HS YLTLKPH PVUZ Z LTZLNYHKVU HWVYPU Y ZPVU Z TWW TWZ HU LUUHZJHISL QHJRZHUK PYPUNHUK HSSTV U Z HSSHUKJLPSPUNZWLHRLYTV U Z JHYWL PUN H HJOLKTPYYVYZ NHYHNLKVVYVWLULYZHUKHSSJVU YVSZ ZTVRL KL LJ VYZ KVVYILSSZ OLYTVZ H Z HSSPU LNYH LKWOVULHUKOVTLH VTH PVUZ Z LTZPUJS KPUNULJLZZHY JVTWVULU Z 25 such as intranet and Internet connected hardware or devices control units other than non dedicated mobile devices LSLJ YVUPJZHUKJVTW LYZHUKHWWSPJHISLZVM HYLWLYTPZZPVUZWHZZ VYKZJVKLZHUKHJJLZZPUMVYTH PVU YLWSHJL ZJYLLUZKVVYZHUKOLH PSH VYZ ANY OF THE FOLLOWING IF BUILT IN dishwashers refrigerators wine and beverage 28 refrigerators trash compactors ovens cook top stoves warming drawers microwave ovens hood fans shelving VYRILUJOLZPU LYJVTZZWLHRLYZHPYJVUKP PVUPUNLX PWTLU LSLJ YVUPJHPY S LYZO TPKP LYZHUKKLO TPKP LYZ 30 liquid fuel tanks and all controls pool and spa equipment propane tanks and all controls security system equipment ZH LSSP LKPZOLZ OLHIV LTLU PVULKPUJS ZPVUZAND the following personal property shall be transferred with no 32 additional monetary value and free and clear of all liens and encumbrances 33 5V P OZ HUKPUN OLMVYLNVPUNSLHZLK _ YLZHYLUV PUJS KLK 5V P OZ HUKPUN OLMVYLNVPUN OLMVSSV PUNP LTZHYLL_JS KLKMYVT OLW YJOHZL 36 37 PURCHASE PRICE 38 Seller has agreed to sell the Property to Buyer for the sum of 39 40 which Buyer agrees to pay in the following manner Dollars 41 1 42 2 percent of the sale price in CASHVYTVYLPU LY ZZVSLKPZJYL PVUPUJS KPUNLHYULZ TVUL percent of the sale price in MORTGAGE FINANCING See following Mortgage Financing section 43 3 percent of the sale price by ASSUMING Seller s current mortgage See attached Addendum to 44 Purchase Agreement Assumption Financing 45 4 percent of the sale price by CONTRACT FOR DEED See attached Addendum to Purchase 46 Agreement Contract for Deed Financing 47 CLOSING DATE 48 The date of closing shall be MN PA 1 8 24

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PURCHASE AGREEMENT 90 Page 3 Date 91 Property located at 92 Upon delivery of the Written Statement if this Purchase Agreement does not close on the stated closing date for 93 ANY REASONYLSH PUN V UHUJPUNPUJS KPUNI UV SPTP LK VPU LYLZ YH LHUKKPZJV U WVPU ZPMHU OLU LSSLY 94 may at Seller s option declare this Purchase Agreement canceled in which case this Purchase Agreement is 95 canceled If Seller declares this Purchase Agreement canceled Buyer and Seller shall immediately sign a 96 Cancellation of Purchase AgreementJVU YTPUNZHPKJHUJLSSH PVUHUKKPYLJ PUNHSSLHYULZ TVUL WHPKOLYL V 97 be FORFEITED TO SELLER as liquidated damages In the alternative Seller may seek all other remedies allowed by law 98 99 Notwithstanding the language in the preceding paragraph Seller may not declare this Purchase Agreement canceled if the reason this Purchase Agreement does not close was due to H LSSLY ZMHPS YL VJVTWSL L VYRVYKLYZ V OLL_ LU YLX PYLKI OPZ7 YJOHZL NYLLTLU I LSSLY ZMHPS YL VJVTWSL LHU V OLY UHUJPUN LYTZHNYLLK VILJVTWSL LKI LSSLYOLYL VY J HU JVU PUNLUJ MVY OLZHSLHUKJSVZPUNVM LY ZWYVWLY W YZ HU V OPZ7 YJOHZL NYLLTLU L_JLW HZZWLJP LKPU OLJVU PUNLUJ MVYZHSLHUKJSVZPUNVM LY ZWYVWLY 105 106 107 108 109 111 112 0M OL YP LU H LTLU PZUV WYV PKLKI OLKH LZWLJP LKVUSPUL LSSLYTH H LSSLY ZVW PVUKLJSHYL OPZ Purchase Agreement canceled by written notice to Buyer at any time prior to Seller receiving the Written Statement in which case this Purchase Agreement is canceled In the event Seller declares this Purchase Agreement canceled Buyer and Seller shall immediately sign a Cancellation of Purchase AgreementJVU YTPUNZHPKJHUJLSSH PVUHUK directing all earnest money paid here to be RETAINED BY SELLER REFUNDED TO BUYER Check one If the Written Statement is not provided and Seller has not previously canceled this Purchase Agreement this 7 YJOHZL NYLLTLU PZJHUJLSLKHZVM OLJSVZPUNKH LZWLJP LKPU OPZ7 YJOHZL NYLLTLU LYHUK LSSLY shall immediately sign a Cancellation of Purchase AgreementJVU YTPUNZHPKJHUJLSSH PVUHUKKPYLJ PUNHSSLHYULZ money paid here to be RETAINED BY SELLER REFUNDED TO BUYER Check one 113 2 1 2 0257 17 5 67 5 7 5 7 The Rate shall be locked with the lender s by Buyer 114 Check one 115 7 1 9 86 1 66

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PURCHASE AGREEMENT 137 Page 4 Date 138 Property located at 139 LENDER PROCESSING F 6 9 LQDQFLQJ 2QO Seller agrees to pay Buyer s closing fees and TPZJLSSHULV ZWYVJLZZPUNMLLZ OPJOJHUUV ILJOHYNLK V LYUV VL_JLLK 141 This amount is in addition to Seller s Contributions to Buyer s Costs if applicable 142 DVA F81 1 9 LQDQFLQJRQO Pursuant to federal regulations a one time Funding Fee based on loan 143 amount not otherwise waived must be paid at closing of this transaction as follows 144 145 paid by Buyer AT CLOSING ADDED TO MORTGAGE AMOUNT Check one paid by Seller 146 127 9 UHJXODWLRQVOLPLWWKHIHHVDQGFKDUJHV X HUFDQSD WRREWDLQD 9 ORDQ 147 3 570 172 9 7 5 16 56 6 3 86 9 LQDQFLQJRQO 0 PZL_WYLZZS HNYLLK OH 148 notwithstanding any other provisions of this contract the purchaser shall not incur any penalty by forfeiture of earnest 149 money or otherwise be obligated to complete the purchase of the Property described here if the contract purchase WYPJLVYJVZ L_JLLKZ OLYLHZVUHISL HS LVM OPZ7YVWLY LZ HISPZOLKI OL LWHY TLU VM L LYHUZ HPYZ OL 151 purchaser shall however have the privilege and option of proceeding with the consummation of this contract without YLNHYK V OLHTV U VMYLHZVUHISL HS LLZ HISPZOLKI OL LWHY TLU VM L LYHUZ HPYZ 153 127 9HULI 9 UHTXLUHPHQWVUHODWLQJWRSD PHQWRIDOOVSHFLDODVVHVVPHQWVOHYLHGDQGSHQGLQJDQG 154 DQQXDOLQVWDOOPHQWVRIVSHFLDODVVHVVPHQWVFHUWL HGWR HDUO WD HV 155 OTHER MORTGAGE FINANCING ITEMS 156 157 6 5 6 2175 87 21672 8

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182 Property located at PURCHASE AGREEMENT 181 Page 5 Date 183 Seller will provide access to attic s and crawlspace s 184 Within Calendar Days of Final Acceptance Date all inspection s test s and resulting negotiations if any 185 shall be done Inspection Period 186 If this Purchase Agreement is contingent upon inspection Buyer may cancel this Purchase Agreement based on the 187 inspection s or test result s by providing written notice to Seller or licensee representing or assisting Seller of Buyer s 188 election to cancel no later than the end of the Inspection Period If Buyer cancels this Purchase Agreement then the 189 Purchase Agreement is canceled Buyer and Seller shall immediately sign a Cancellation of Purchase Agreement JVU YTPUNZHPKJHUJLSSH PVUHUKKPYLJ PUNHSSLHYULZ TVUL WHPKOLYL VILYLM UKLK V LY0M LYKVLZUV 191 cancel this Purchase Agreement before the end of the Inspection Period then this Inspection Contingency shall be KLLTLKYLTV LKHUK OPZ7 YJOHZL NYLLTLU ZOHSSILPUM SSMVYJLHUKLLJ 193 OTHER INSPECTION ITEMS 194 195 196 197 198 Check one 6 2 8

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PURCHASE AGREEMENT 322 Page 8 Date 323 Property located at 324 RISK OF LOSS If there is any loss or damage to the Property between the Date of this Purchase Agreement and OLKH LVMJSVZPUNMVYHU YLHZVUPUJS KPUN YL HUKHSPZT VVKLHY OX HRLVYHJ VM VK OLYPZRVMSVZZZOHSSIL 326 on Seller If the Property is destroyed or substantially damaged before the closing date this Purchase Agreement 327 is canceled at Buyer s option by written notice to Seller or licensee representing or assisting Seller If Buyer cancels 328 this Purchase Agreement Buyer and Seller shall immediately sign a Cancellation of Purchase AgreementJVU YTPUN 329 said cancellation and directing all earnest money paid here to be refunded to Buyer 330 TIME OF ESSENCE Time is of the essence in this Purchase Agreement 331 8 7 212

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410 Property located at PURCHASE AGREEMENT 409 Page 10 Date 411 8 1 P O OLRUV SLKNLHUK UKLYZ HUKPUNVM OLL_WSHUH PVUHIV L LSSLYZHUK LYZH OVYPaLHUKPUZ Y J YVRLY 427 and its salesperson to act as dual agents in this transaction 428 Seller Buyer 429 Seller Buyer 430 Date Date 431 CLOSING COSTS LYVY LSSLYTH ILYLX PYLK VWH JLY HPUJSVZPUNJVZ Z OPJOTH LLJ P LS PUJYLHZL OL 432 cash outlay at closing or reduce the proceeds from the sale 433 SETTLEMENT STATEMENT Buyer and Seller authorize the title company escrow agent and or their representatives 434 to disclose and provide copies of the disbursing agent s settlement statement to the real estate licensees involved 435 in the transaction at the time these documents are provided to Buyer and Seller 436 25 1 19 670 17 15 3523 57

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PURCHASE AGREEMENT 492 Page 12 Date 493 Property located at 494 I agree to sell the Property for the price and on the 495 terms and conditions set forth above 496 KDYHUHYLHZHGDOOSDJHVRIWKLV3XUFKDVH 497 JUHHPHQW I agree to purchase the Property for the price and on the terms and conditions set forth above KDYHUHYLHZHGDOOSDJHVRIWKLV3XUFKDVH JUHHPHQW 498 I FKHFNHG WKLV 3XUFKDVH JUHHPHQW LV VXEMHFW WR 499 attached GGHQGXP WR 3XUFKDVH JUHHPHQW 500 CounterofferDQGWKH LQDO FFHSWDQFH DWHVKDOOEH 501 noted on the Addendum 502 FIRPTA Seller represents and warrants under penalty VMWLYQ Y OH LSSLY IS IS NOT a foreign person i e a Check one 504 non resident alien individual foreign corporation foreign 505 partnership foreign trust or foreign estate for purposes of PUJVTL H_H PVUSee lines 436 449 This representation 507 and warranty shall survive the closing of the transaction 508 and the delivery of the deed 509 X Seller s Signature Date X Buyer s Signature Date 510 X Seller s Printed Name X Buyer s Printed Name 511 X Seller s Signature Date X Buyer s Signature Date 512 X Seller s Printed Name X Buyer s Printed Name 513 FINAL ACCEPTANCE DATE PZ OLKH LVU OPJO OLM SS L_LJ LK7 YJOHZL NYLLTLU PZKLSP LYLK The Final Acceptance Date 515 7 6 6

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WIRE FRAUD ALERT Internet fraud the use of Internet services or software with Internet access to defraud victims is on the rise in real estate transactions THESE SOPHISTICATED CRIMINALS COULD HACK INTO YOUR E MAIL ACCOUNT or the e mail of others involved in your real estate transaction and may direct you to wire money to the hacker s account SEND FRAUDULENT E MAILS that appear to be from your real estate licensee lender or closing agent CALL YOU claiming they have revised wiring instructions Buyers Tenants and Sellers Owners are advised to 1 Never wire funds without confirming the wiring instructions directly with the intended recipient 2 Verify that the contact information for the wire transfer recipient is legitimate by calling a known phone number for the broker or closing agent Do not rely on the information given to you in an e mail communication 3 Never send personal information through unsecured unencrypted e mail If you suspect wire fraud in your transaction 1 Immediately notify your bank closing agent and real estate licensee 2 File a complaint online at the Internet Crime Complaint Center IC3 at http www ic3 gov The undersigned acknowledge receipt of this wire fraud alert and understand the importance of taking proactive measures to avoid being a victim of wire fraud in a real estate transaction Signature Date Signature Date This form approved by the Minnesota Association of REALTORS which disclaims any liability arising out of use or misuse of this form 2018 Minnesota Association of REALTORS Edina MN MN WFA 8 18

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Radon in Real Estate Transactions All Minnesota homes can have dangerous levels of radon gas Radon is a colorless and odorless gas that comes from the soil The gas can accumulate in the home When inhaled its radioactive particles can damage the lungs Long term exposure to radon can lead to lung cancer About 21 000 lung cancer deaths each year in the United States are caused by radon The only way to know how much radon gas has entered the home is to conduct a radon test MDH estimates 2 in 5 homes exceed the 4 0 pCi L picocuries per liter action level Whether a home is old or new any home can have high levels of radon The purpose of this publication is to educate and inform potential home buyers of the risks of radon exposure and how to test for and reduce radon as part of real estate transactions Disclosure Requirements Effective January 1 2014 the Minnesota Radon Awareness Act requires specific disclosure and education be provided to potential home buyers during residential real estate transactions in Minnesota Before signing a purchase agreement to sell or transfer residential real property the seller shall provide this publication and shall disclose in writing to the buyer 1 whether a radon test or tests have occurred on the property the most current records and reports 2 pertaining to radon concentrations within the dwelling 3 a description of any radon levels mitigation or remediation 4 information on the radon mitigation system if a system was installed 5 a radon warning statement Radon Facts How dangerous is radon Radon is the number one cause of lung cancer in nonsmokers and the second leading cause overall Your risk for lung cancer increases with higher levels of radon prolonged exposure and whether or not you are a current smoker or former smoker Where is your greatest exposure to radon For most Minnesotans your greatest exposure is at home where radon can concentrate indoors What is the recommended action based on my results If the average radon in the home is at or above 4 0 pCi L the home s radon level should be reduced Also consider mitigating if radon levels are between 2 0 pCi L and 3 9 pCi L Any amount of radon even below the recommended action level carries some risk A home s radon levels may change in the future so test every 2 5 years or sooner if there is major remodeling or changes to the foundation heating cooling or ventilation Radon Warning Statement The Minnesota Department of Health strongly recommends that ALL home buyers have an indoor radon test performed prior to purchase or taking occupancy and recommends having the radon levels mitigated if elevated radon concentrations are found Elevated radon concentrations can easily be reduced by a qualified certified or licensed if applicable radon mitigator Every buyer of any interest in residential real property is notified that the property may present exposure to dangerous levels of indoor radon gas that may place the occupants at risk of developing radon induced lung cancer Radon a Class A human carcinogen is the leading cause of lung cancer in nonsmokers and the second leading cause overall The seller of any interest in residential real property is required to provide the buyer with any information on radon test results of the dwelling

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Radon Testing Any test lasting less than three months requires closed house conditions Closed house conditions include keeping all windows and doors closed except for normal entry and exit and temperature set to 65 80 F For a full list of closed house conditions please visit mn gov radon notice Before testing Begin closed house conditions at least 12 hours before the start of the radon test During testing Maintain closed house conditions during the entire duration of the short term test Operate home heating or cooling systems normally during the test Where should the test be conducted Any radon test conducted for a real estate transaction needs to be placed in the lowest livable area of the home suitable for occupancy This is typically in the basement whether finished or unfinished If other foundations are present such as a crawl space or slab on grade also test the rooms above these foundations Place the test kit 20 inches to 6 feet above the floor 3 feet from exterior doors and windows 1 foot from exterior walls away from heat sources and drafts caused by vents and fans not in enclosed areas or areas of high heat humidity How are radon tests conducted in real estate transactions There are special protocols for radon testing in real estate transactions Because these tests are time sensitive there are two testing options For both tests test for a minimum of 2 days Continuous Radon Monitor CRM MDH recommends CRMs in real estate testing CRMs are calibrated provide more data and may detect tampering The average of the results are used to make a decision to mitigate Simultaneous Short Term Testing Two short term test kits are placed side by side 4 8 apart The results of the two tests are averaged and used to make a decision to mitigate Radon Mitigation When elevated levels of radon are found they can be easily reduced by a licensed professional Radon mitigation is the process or system used to reduce radon concentrations in the breathing zones of occupied buildings The goal of a radon mitigation system is to reduce the indoor radon levels to below the action level This is done by drawing soil gas from under the house and venting it above the roof A quality mitigation system is often able to reduce the annual average radon level to below 2 0 pCi L The cost of a radon mitigation system averages 1 500 to 3 000 After a radon mitigation system is installed perform an independent short term test to ensure the reduction system is effective Operate the radon system during the entire test This short term test will confirm low levels in the home Be sure to retest the house every two years to confirm continued radon reduction All radon testing and mitigation should be conducted by licensed radon professionals Radon service providers such as home inspectors must be licensed A list of these licensed radon professionals can be found at MDH s radon web site MDH conducts free inspections upon request of recently installed radon mitigation systems to check that they meet requirements More Radon Information www mn gov radon Last Updated 4 2023 MDH Indoor Air Unit PO Box 64975 St Paul MN 55164 0975 Contact Information 651 201 4601 800 798 9050 health indoorair state mn us