[Your Name] [Your Address] [City, State, Zip] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, Zip] Subject: Confirmation of Purchase Agreement — [Property Address] Dear [Recipient's Name], I hope this letter finds you well. I am writing to confirm our recent purchase agreement regarding the property located at [Property Address]. The purpose of this letter is to ensure that both parties involved acknowledge and understand the terms and conditions outlined in the agreement. Firstly, I confirm my intention to purchase the aforementioned property based on the terms discussed and agreed upon in the purchase agreement dated [Agreement Date]. The buyer, [Buyer's Name], and the seller, [Seller's Name], both acknowledge and accept the terms and conditions specified in the agreement. The key elements of the purchase agreement are as follows: 1. Purchase Price: The agreed-upon purchase price for the property is [amount], payable as follows: [payment Terms]. 2. Property Details: The property to be purchased is situated at [Property Address], with details including [Property Description]. 3. Condition of Property: All parties acknowledge that the property is being sold in its [As-Is/As-Described] condition, and the buyer has been given reasonable opportunity to inspect the property before entering into this agreement. 4. Deposit: The buyer has submitted a deposit of [amount] on [Deposit Date], demonstrating their commitment to the purchase. 5. Financing: The buyer confirms that they have secured appropriate financing for the purchase. If applicable, the buyer agrees to provide all necessary documents and cooperate with the lender to fulfil the loan requirements. 6. Closing Date: The closing of this purchase agreement is scheduled to take place on or before [Closing Date]. The location and time of the closing will be communicated prior to the scheduled date. 7. Default and Remedies: The agreement includes provisions outlining the rights and remedies available to each party in the event of default or breach of contract. 8. Closing Costs: The agreement specifies how closing costs are to be shared between the buyer and the seller. These costs may include but are not limited to title insurance, recording fees, transfer taxes, and escrow fees. It is crucial that both parties carefully review this confirmation letter and the attached purchase agreement to ensure that all terms and details are accurate and satisfactory. Should there be any concerns or discrepancies, please notify me immediately to address them accordingly. Please sign and return a copy of this letter, indicating your acceptance and acknowledgment of the contents discussed herein. I kindly request that you do so no later than [Response Deadline] to ensure a smooth and timely transaction. Thank you for your cooperation in this matter. I look forward to completing this agreement successfully and proceeding with the purchase of the property. Should you have any questions or require further information, please do not hesitate to contact me at [Phone Number] or [Email Address]. Yours sincerely, [Your Name] Enclosure: Purchase Agreement (Copy)
Arizona Sample Letter for Confirmation of Purchase Agreement
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How to fill out Sample Letter For Confirmation Of Purchase Agreement?
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FAQ
As discussed above, a purchase agreement should contain buyer and seller information, a legal description of the property, closing dates, earnest money deposit amounts, contingencies and other important information for the sale.
What are the six essential elements for an enforceable real estate contract? In writing, competent parties, mutual assent, legal consideration, lawful object, legal description.
However, there are some basic items that should be included in every purchase agreement.Buyer and seller information.Property details.Pricing and financing.Fixtures and appliances included/excluded in the sale.Closing and possession dates.Earnest money deposit amount.Closing costs and who is responsible for paying.More items...?
Any purchase agreement should include at least the following information:The identity of the buyer and seller.A description of the property being purchased.The purchase price.The terms as to how and when payment is to be made.The terms as to how, when, and where the goods will be delivered to the purchaser.More items...
How to Write a Business Purchase Agreement?Step 1 Parties and Business Information. A business purchase agreement should detail the names of the buyer and seller at the start of the agreement.Step 2 Business Assets.Step 3 Business Liabilities.Step 4 Purchase Price.Step 6 Signatures.
Your sale and purchase agreement should include the following:Your name(s) and the names of the seller(s).The address of the property.The type of title (for example, freehold or leasehold).The price.Any deposit you must pay.Any chattels being sold with the property (for example, whiteware or curtains).More items...
A purchase agreement letter between seller and buyer is created when two parties come together, where one party desires to purchase a piece of property and the other party is looking to sell a piece of personal property. The agreement is a legal document that outlines the conditions and terms of the sale.
In Arizona, sellers are required to complete a real estate purchase agreement and the following disclosures in order for it to be considered legally binding:Buyer Inquiry.Comprehensive Loss Underwriting Exchange (CLUE).Swimming Pool Barrier Disclosure.Condo Disclosure Information.Notice of Soil Remediation.More items...
Both parties have to agree on the price before the purchase agreement is signed. Furthermore, terms such as earnest money, escrow company, down payment, financing, warranties and contingencies, and the closing date will be outlined in the contract.
Backed by GPO administrative and technical assistance, the Simplified Purchase Agreement (SPA) ensures vendor compliance with GPO Contract Term Quality Assurance Through Attributes Program for Printing and Binding and Government Paper Specification Standardswhile offering the best value for purchases up to $10,000.
