One-to-Four Family Form Contract and Addendums for Property Sale

In this document, we present the completed One-to-Four Family Form Contract along with relevant addendums for the sale of the subject property located at 1289 Hope Lane, Beaumont, TX 77705, between the Buyers, John Lennox and Mary Lennox, a married couple, and the Sellers, Larry Ward and Janet Ward, also a married couple. The transaction details have been thoroughly outlined and agreed upon by both parties.

One-to-Four Family Form Contract

 Parties Involved: Buyers: John Lennox and Mary Lennox Sellers: Larry Ward and Janet Ward

 Subject Property: Address: 1289 Hope Lane, Beaumont, TX 77705 Legal Description: Lot 4 Block 7 Quiet Acres Subdivision

Sales Price and Terms: Agreed Sales Price: $315,000 Seller Contribution to Closing Costs: $2,500 Home Warranty Cost Covered by Sellers: $675 Agreed Repairs: The Sellers will fix the two fogged windows in the master bedroom.

Title and Title Company: Title Company: Very Good Title Company Address: 12345 Main Street, Beaumont, TX 77705 Seller Responsibility: Sellers will pay for the title policy.

Property Use and Special Requests: The Buyers would like to ensure their ability to keep two small goats on the property.Earnest Money: Buyers to provide $2,500 earnest money to Very Good Title Company.

Sellers’ Post-Closing Occupancy: Sellers to have 3 days after closing to vacate the property at no cost.

 Financing: Buyers’ Financing: Conventional loan with a 10% down payment, 30-year term. Desired Interest Rate: At least 4.5%. Origination Fees: Not to exceed 2 points.

Survey and Property Details: Sellers possess a survey that can be used if deemed acceptable by the lender and title company.

 Seller’s Retained Items: Sellers to retain water softener system and a prized rose bush in the backyard.

Conveyed Items: BBQ pit in the backyard and the Samsung washing machine with Serial # S789XYZ87 to be conveyed to Buyers.

Effective Date and Closing Date: Effective Date: Today’s date. Closing Date: To be determined using the effective date.

 Termination Option: Buyers have purchased a termination option for $300, valid for 7 days.

Addendums

Addendum 1 – Special Requests: Buyers request permission to keep two small goats on the property.

Addendum 2 – Post-Closing Occupancy Agreement: Sellers will have 3 days after closing to vacate the property at no additional cost.

Addendum 3 – Seller’s Conveyed Items: The Seller agrees to convey the BBQ pit in the backyard and the Samsung washing machine with Serial # S789XYZ87.

Addendum 4 – Financing Details: Buyers will secure a conventional loan with a 10% down payment, 30-year term, at an interest rate not exceeding 4.5%. Origination fees will not surpass 2 points.

Addendum 5 – Retained Items: Sellers will retain ownership of the water softener system and a prized rose bush in the backyard.

Addendum 6 – Termination Option: Buyers have purchased a termination option for $300, which provides them the right to terminate the contract within 7 days.

This comprehensive One-to-Four Family Form Contract and its corresponding addendums outline the mutual agreement between the Buyers, John Lennox and Mary Lennox, and the Sellers, Larry Ward and Janet Ward, regarding the sale of the property at 1289 Hope Lane, Beaumont, TX 77705. The contract incorporates essential details such as the sales price, financing terms, conveyed items, post-closing arrangements, and other specific requests. Both parties have diligently reviewed and accepted the terms, fostering a transparent and mutually beneficial transaction.