[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 formally confirm our purchase agreement for the property located at [Property Address] in Hawaii. This letter serves as an official documentation of our mutually agreed terms and conditions, as discussed on [Date of Agreement]. As per the terms laid out, the purchase price for the property shall be [Purchase Amount], and both parties, namely the Buyer and the Seller, have consented to execute this agreement without any duress or coercion. The following key elements have been agreed upon: 1. Property Description: The property, situated in the enchanting state of Hawaii, boasts [property features, e.g., oceanfront view, spacious backyard, modern amenities]. The legal description of the property is provided in the attached documents for reference. 2. Purchase Price and Payment Terms: The agreed purchase price of [Purchase Amount] shall be paid as follows: — [Deposit Amount] upon the signing of this agreement, which shall be held in an escrow account until the closing date. — [Amount 1] on or before [Date]— - [Amount 2] on or before [Date]. — Remaining balance of [Amount 3] will be paid at the time of closing, which is scheduled to take place on or before [Closing Date]. 3. Contingencies: This purchase agreement is subject to the following contingencies, which must be fulfilled by the specified dates: — [Contingency 1— - [Contingency 2] - [Contingency 3] 4. Inspection and Due Diligence: The Buyer shall have the right to conduct a thorough inspection of the property, including but not limited to a structural inspection, termite inspection, and environmental assessment. The inspection period shall commence on [Inspection Start Date] and conclude on [Inspection End Date]. 5. Transfer of Title: Upon the successful completion of all contingencies and receipt of the full payment, the Seller agrees to transfer the property's title to the Buyer via a warranty deed, free of any liens or encumbrances. 6. Closing and Possession: The closing shall take place at a mutually agreed location on or before [Closing Date]. The Buyer shall have possession of the property upon closing, unless otherwise agreed in writing. Please note that this letter serves as a confirmation of the terms agreed upon by both parties. Any modifications or amendments to this agreement shall be made in writing and signed by both the Buyer and Seller. If either party fails to fulfill their obligations as per this agreement, the non-defaulting party shall be entitled to seek legal remedies or cancellation of the agreement. Thank you for your attention to this matter. We look forward to a smooth closing process and the realization of our shared vision for this beautiful property in Hawaii. Please sign and return a copy of this letter to acknowledge your acceptance of the aforementioned terms. Sincerely, [Your Name] [Buyer]
Hawaii Sample Letter for Confirmation of Purchase Agreement
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FAQ
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.
The simple purchase agreement template serves to protect the buyer and seller. It is a form that documents an agreement so that each party ensures fair treatment during the transaction. The document template allows for the ease in creation of a complex document.
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.
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...?
DEPOSIT RECEIPT OFFER AND ACCEPTANCE (DROA)
Writing a real estate purchase agreement.Identify the address of the property being purchased, including all required legal descriptions.Identify the names and addresses of both the buyer and the seller.Detail the price of the property and the terms of the purchase.Set the closing date and closing costs.More items...
A residential purchase letter of intent is written by a prospective buyer to formally express their interest in purchasing real estate. The letter is commonly non-binding that sellers will require before efforts are made to draft a legally-binding purchase agreement.
Also known as a sales contract or a purchase contract, a purchase agreement is a legal document that establishes the parameters of the sale of goods between a buyer and a seller. Typically, they are used when the value is more than $500.
Writing a real estate purchase agreement.Identify the address of the property being purchased, including all required legal descriptions.Identify the names and addresses of both the buyer and the seller.Detail the price of the property and the terms of the purchase.Set the closing date and closing costs.More items...
