Agreement to Purchase Real Estate

This agreement is between (“Seller”) and Oakmont Capital, LLC and/or assigns (“Buyer”). The Buyer and Seller, when mentioned together, may be referred to as Parties. Seller agrees to sell to the buyer the property known as: (“Property”). The parties agree to the following terms and conditions:

Buyer will pay $100.00 as an earnest money deposit, which shall be deposited with said title/escrow company upon execution of this Agreement by both parties and shall be credited to Buyer at Closing. If the Buyer fails to close, then the earnest money will be forfeited to the Seller as full and liquidated damages. If Seller cannot deliver marketable and insurable title to the Property to the Buyer at Closing, then Buyer will receive the return of the earnest money deposit, and the transaction will be null and void and of no further legal force and effect.

Buyer will pay the purchase price of $ to Seller. The entire purchase price shall be paid to the seller at closing, less tax and rent pro-rations and deductions, any and/all Mortgages, liens, Judgments, taxes, special assessments and encumbrances and deductions to provide marketable title and/or pay off liens against the Property.

The Buyer is purchasing the Property “as is.” The Seller will make no repairs or improvements to the property prior to closing. However, this agreement is contingent upon satisfactory inspections of the property by the Buyer or Buyer’s agents or potential assignees. These inspections shall be at the Buyer’s expense and within the thirty (30) day due diligence period starting from the effective date of this Agreement (“The Inspection Period”). Inspections shall be at a date and time established by Buyer and agreeable to Seller (and/or tenants), which shall not be unreasonably withheld. If, for any reason whatsoever, Buyer is unsatisfied with the results of the inspections, Buyer may cancel this Agreement within two (2) days after the expiration of the Inspection Period and receive a refund of all earnest money deposits. Unless otherwise noted, all barns, sheds, and structures will remain on the property.

Closing will be on or before , 20. If closing is not possible within this time due to issues that arise during the title search, the closing may be extended for 90 days at the option of the Buyer. Buyer will select the closing agent, and Buyer will pay for all escrow and/or closing company costs, as well as recording fees and documentary stamp taxes. Seller will convey title via General Warranty Deed at closing. Seller agrees to provide marketable and insurable title, free and clear of any lien or encumbrance. Payoff of Mortgages, liens, assessments, and Judgments will be paid at closing from seller proceeds. If the property is leased at the time of closing, then rents will be pro-rated, and any and all tenant security deposits and prepaid rental payments will be transferred to the Buyer at closing. All ad valorem and non-ad valorem real property taxes and any personal property taxes for the current year will be pro-rated as of the closing date. If this year’s tax bill is not yet available, the prior year’s tax bill will be used to estimate the current year’s taxes. All pro-rations shall be considered to be final. Any delinquent or currently due taxes will be paid by the Seller on or before closing.

Seller shall make the property accessible to Buyer, Buyer’s partners, agents, assignees, contractors, lenders, or appraisers prior to closing. Buyer may market the property or the sale of the contract to purchase the property before the close of escrow, including using the MLS or other online listing services. The Agreement is assignable and subject to satisfactory inspection of the property by the Buyer.

Buyer’s employees or agents may hold a real estate salesperson or broker license in the State of North Carolina. Buyer and/or his employees are not representing any party, and Buyer and Seller agree that each acts in their best interest. The buyer’s exact vesting is to be determined at closing.

Seller hereby acknowledges that all negotiations and deadlines with Buyer have been and are at arm’s length and that no duress or undue influence has been exerted by Buyer over Seller or Seller’s family in connection with this Agreement. Seller is aware that Buyer may be purchasing the Property for immediate and/or concurrent resale and profit. Seller warrants that Seller is advised by Seller’s independent attorney, CPA, and/or Realtor and not on the Buyer’s advice. The Seller’s acknowledgments as executed by Seller together with this Agreement are hereby incorporated herein by said reference.

If legal action is needed to enforce any part of this Agreement, the prevailing party is entitled to reasonable attorney fees and costs, including any incurred-on appeals or in the negotiation or alternative dispute resolution of the dispute. Buyer shall have the remedy of specific performance.

This Agreement is the entire Agreement between the Parties. No other representations have been made or relied on in making this Agreement. If any part or provision in this Agreement is held to be invalid or unenforceable, the remaining valid provisions will stay in force and effect.

The property is to be vacant and left in “broom clean” condition on the day of closing. The sale price includes any and all appliances contained in the subject premises. Seller agrees to cooperate with the closing agent for execution of any and corrective instruments as required to cure/clear title.

• BUYER AGREES TO PURCHASE PROPERTY IN “AS-IS” CONDITION
• CONTRACT SUBJECT TO ACCEPTABLE INSPECTION
• BUYER WILL PAY FOR ALL ESCROW/CLOSING COMPANY COSTS

Seller must accept and sign this Agreement within 10 days of Buyer’s signature. If not accepted by this date and time, the Agreement is invalid and of no further legal effect.

Notices under this agreement may be delivered by mail, electronic mail, or overnight delivery and shall be deemed “delivered” upon pressing “send” on electronic mail or three (3) calendar days thereafter posting the same properly addressed in the mail or overnight delivery.