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Sample Purchase and Sale Agreement Nh

When it comes to buying or selling a property, a purchase and sale agreement is a crucial document that outlines all of the terms and conditions of the transaction. In the state of New Hampshire, there are certain requirements that must be met to ensure that the agreement is legally binding. To help you get started, here`s a sample purchase and sale agreement that you can use as a guide.

Parties Involved

The first section of the agreement should identify the parties involved in the transaction. This includes the buyer and seller, as well as any agents or attorneys representing either side. Make sure to include the full legal name and address of each party.

Property Details

Next, you`ll want to provide a detailed description of the property being sold. This includes the address, tax map and lot number, and any other identifying information. You should also specify what items are included in the sale, such as appliances or fixtures.

Purchase Price

The purchase price is one of the most important parts of the agreement. This section should clearly state the amount that the buyer will pay for the property, as well as the method and timeline for payment. If the buyer is using financing, you should also include any contingencies related to the loan approval process.

Closing Date

The closing date is the day on which the transfer of ownership will take place. This section should specify the exact date and time of the closing, as well as the location where it will take place. You may also want to include any contingencies related to the closing process, such as the completion of a home inspection or the resolution of any title issues.

Contingencies

Speaking of contingencies, there may be other conditions that need to be met before the sale can be completed. These might include things like the completion of repairs, the removal of hazardous materials, or the resolution of any legal disputes. Make sure to spell out these contingencies clearly so that both parties understand what needs to be done before the sale can close.

Closing Costs

Finally, you`ll want to specify who will be responsible for paying the closing costs associated with the sale. These typically include things like title insurance, transfer taxes, and attorney fees. In some cases, the buyer and seller may agree to split these costs, while in others one party may be responsible for paying them in full.

As you can see, a purchase and sale agreement is a complex document that covers a lot of ground. If you`re buying or selling a property in New Hampshire, it`s important to work with an experienced real estate attorney who can help you draft an agreement that meets all of the legal requirements and protects your interests. With the right agreement in place, you can rest assured that your transaction will be smooth and successful.