5 Driftwood Otp

Download as pdf or txt
Download as pdf or txt
You are on page 1of 2

Authentisign ID: 6A00F78A-7F89-EE11-8925-6045BDD68161

C696CDF6-7D89-EE11-8925-6045BDD68161

CONTRACT TO PURCHASE REAL ESTATE #501 (Page 1 of 2)


(With Contingencies)
(Binding Contract. If Legal Advice Is Desired, Consult An Attorney.)
From: BUYER(S): To: OWNER OF RECORD ("SELLER"):
Name(s): Samarth Patel, Chandnee Patel Name(s): Alyssa M Copp & Zachary A Putnam
Address: 9123 Inwood Drive Address: 5 Driftwood Dr
Woburn MA Easton MA
01801 02375
The agent Darshna Patel is operating in this transaction as:
X Buyer's Agent Seller's Agent Facilitator Dual Agent
on behalf of Samarth and Chandnee Patel .
This provision does not eliminate the requirement to have a signed Mandatory Real Estate Licensee-Consumer Relationship Disclosure, but acts to satisfy Standard of
Practice 16-10 in the REALTOR® Code of Ethics.
The BUYER offers to purchase the real property described as 5 Driftwood Dr
Easton, MA 02375
together with all buildings and improvements thereon (the "Premises") to which I have been introduced by DarshnaPatel,
Coldwell Banker, Beverly MA 01915 upon the following terms and conditions:
1. Purchase Price: The BUYER agrees to pay the sum of $740,000.00 to the SELLER for the purchase of the
Premises (the “Offer”), due as follows:
i. $1,000.00 as a deposit to bind this Offer
and delivered herewith to the Seller or Seller's agent
X or to be delivered forthwith upon receipt of written acceptance
ii. $25,000.00 as an additional deposit upon executing the Purchase And Sale Agreement;
iii. Balance by bank's, cashier's, treasurer's or certified check or wire transfer at time for closing.
2. Duration Of Offer. This Offer is valid until 7 a.m. / X p.m. on November 22, 2023 by which time a
copy of this Offer shall be signed by the SELLER, accepting this Offer and returned to the BUYER, otherwise this
Offer shall be deemed rejected and the money tendered herewith shall be returned to the BUYER. Upon written notice
to the BUYER or BUYER'S agent of the SELLER'S acceptance, the accepted Offer shall form a binding agreement. Time
is of the essence as to each provision.
3. Purchase And Sale Agreement. The SELLER and the BUYER shall, on or before 5 a.m. / X p.m.
on December 4, 2023 execute the Standard Purchase and Sale Agreement of the MASSACHUSETTS
ASSOCIATION OF REALTORS® or substantial equivalent which, when executed, shall become the entire agreement
between the parties and this Offer shall have no further force and effect.
4. Closing. The SELLER agrees to deliver a good and sufficient deed conveying good and clear record and marketable
title at 12 a.m. / X p.m. on January 8, 2024 at the OPEN County Registry
of Deeds or such other time or place as may be mutually agreed upon by the parties.
5. Escrow. The deposit shall be held by Coldwell Banker Realty, Easton , as escrow agent, subject to
the terms hereof. Endorsement or negotiation of this deposit by the real estate broker shall not be deemed acceptance of
the terms of the Offer. In the event of any disagreement between the parties concerning to whom escrowed funds should
be paid, the escrow agent may retain said deposit pending written instructions mutually given by the BUYER and
SELLER. The escrow agent shall abide by any Court decision concerning to whom the funds shall be paid and shall not
be made a party to a pending lawsuit solely as a result of holding escrowed funds. Should the escrow agent be made a
party in violation of this paragraph, the escrow agent shall be dismissed and the party asserting a claim against the
escrow agent shall pay the agent's reasonable attorneys' fees and costs.
6. Contingencies. It is agreed that the BUYER'S obligations under this Offer and any Purchase and Sale Agreement
signed pursuant to this Offer are expressly conditioned upon the following terms and conditions:
a. Mortgage. (Delete If Waived) The BUYER'S obligation to purchase is conditioned upon obtaining a written
commitment for financing in the amount of $592,000.00 at prevailing rates, terms and conditions by
01/03/2024 . The BUYER shall have an obligation to act reasonably
diligently to satisfy any condition within the BUYER'S control. If, despite reasonable efforts, the BUYER has been unable to
obtain such written commitment the BUYER may terminate this agreement by giving written notice that is received by 5:00
p.m. on the calendar day after the date set forth above. In the event that notice has not been received, this condition is
deemed waived. In the event that due notice has been received, the obligations of the parties shall cease and this
agreement shall be void; and all monies deposited by the BUYER shall be returned. In no event shall the BUYER be
deemed to have used reasonable efforts to obtain financing unless the BUYER has submitted one application by
11/28/23 and acted reasonably promptly in providing additional information requested by the
mortgage lender.

©1999, 2000, 2001, 2002, 2007, 2010, 2012, 2013, 2014 2017 MASSACHUSETTS ASSOCIATION OF REALTORS®
10.22.2014/403031
License #: 87329
Coldwell Banker - Beverly, 50 Dodge St Beverly MA 01915-1786 Phone: (978)471-9070 Fax: (978)927-2403 Samarth and Chandnee
Darshna Patel Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com
Authentisign ID: 6A00F78A-7F89-EE11-8925-6045BDD68161
C696CDF6-7D89-EE11-8925-6045BDD68161

CONTRACT TO PURCHASE REAL ESTATE #501 (Page 2 of 2)


(With Contingencies)
b. Inspections. (Delete If Waived) The BUYER'S obligations under this agreement are subject to the right to obtain
inspection(s) of the Premises or any aspect thereof, including, but not limited to, home, pest, radon, lead paint, energy
usage/efficiency, septic/sewer, water quality, and water drainage by consultant(s) regularly in the business of conducting said
inspections, of BUYER'S own choosing, and at BUYER'S sole cost by November 28 , 2023 If the results are not
satisfactory to BUYER, in BUYER'S sole discretion, BUYER shall have the right to give written notice received by the
SELLER or SELLER'S agent by 5:00 p.m. on the calendar day after the date set forth above, terminating this agreement. Upon
receipt of such notice this agreement shall be void and all monies deposited by the BUYER shall be returned. Failure to provide
timely notice of termination shall constitute a waiver. In the event that the BUYER does not exercise the right to have such
inspection(s) or to so terminate, the SELLER and the listing broker are each released from claims relating to the condition of the
Premises that the BUYER or the BUYER'S consultants could reasonably have discovered.
7. Representations/Acknowledgments. The BUYER acknowledges receipt of an agency disclosure, lead paint
disclosure (for residences built before 1978), and Home Inspectors Facts For Consumers brochure (prepared by the
Office of Consumer Affairs). The BUYER is not relying upon any representation, verbal or written, from any real estate
broker or licensee concerning legal use. Any reference to the category (single family, multi-family, residential, commercial)
or the use of this property in any advertisement or listing sheet, including the number of units, number of rooms or other
classification is not a representation concerning legal use or compliance with zoning by-laws, building code, sanitary code
or other public or private restrictions by the broker. The BUYER understands that if this information is important to BUYER,
it is the duty of the BUYER to seek advice from an attorney or written confirmation from the municipality. In addition, the
BUYER acknowledges that there are no warranties or representations made by the SELLER or any broker on which
BUYER relies in making this Offer, except those previously made in writing and the following: (if none, write “NONE”):
NONE

8. Buyer's Default. If the BUYER defaults in BUYER'S obligations, all monies tendered as a deposit shall be paid to the
SELLER as liquidated damages and this shall be SELLER'S sole remedy.
9. Additional Terms.
The Property must appraise at a value equal to or exceeding the purchase price.

BUYER Samarth Patel Date BUYER Chandnee Patel Date

SELLER'S REPLY
SELLER(S): (check one and sign below)
(a) ACCEPT(S) the Offer as set forth above at a.m. / p.m. on this day of .
(b) REJECT(S) the Offer.
(c) Reject(s) the Offer and MAKE(S) A COUNTEROFFER on the following terms:

This Counteroffer shall expire at a.m. / p.m. on if not withdrawn earlier.

SELLER, or spouse Alyssa M Copp & Zachary A Date SELLER Date

(IF COUNTEROFFER FROM SELLER) BUYER'S REPLY


The BUYER: (check one and sign below)
(a) ACCEPT(S) the Counteroffer as set forth above at a.m. / p.m. on this day of
(b) REJECT(S) the Counteroffer.
_____________________________________________ _____________________________________________
BUYER Date BUYER Date

RECEIPT FOR DEPOSIT


I hereby acknowledge receipt of a deposit in the amount of $ from the BUYER this day of
.
Escrow Agent or Authorized Representative

©1999, 2000, 2001, 2002, 2007, 2010, 2012, 2013, 2014 2017 MASSACHUSETTS ASSOCIATION OF REALTORS®
10.22.2014/403031

Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com Samarth and

You might also like