West Virginia Real Estate Purchase Agreement Template

West Virginia Real Estate Purchase Agreement

This Real Estate Purchase Agreement (“Agreement”) is entered into by and between _______________ (“Seller”) and _______________ (“Buyer”), collectively referred to as the “Parties.” This Agreement sets forth the terms and conditions upon which the Parties agree to sell and purchase the real property described herein. It is intended to comply with all relevant statutory requirements in the State of West Virginia, including but not limited to, the West Virginia Residential Real Property Disclosure Act.

1. Property

The real property subject to this Agreement, along with all improvements, fixtures, and appurtenances, is located at _______________________________(“Property”). The legal description of the Property is:

_________________________________________________________________________________.

2. Purchase Price and Earnest Money

The purchase price for the Property is ___________________(“Purchase Price”) to be paid as follows:

1. An earnest money deposit of _______________, to be paid to ________________________, acting as Escrow Agent, within ___________ days after the effective date of this Agreement.
2. The balance of the Purchase Price to be paid at closing in cash, cashier’s check, or wire transfer of immediately available funds.

3. Closing

Closing shall take place on ___________________, or at another mutually agreed upon date, at a location to be determined. At closing, Seller shall convey to Buyer title to the Property free and clear of all encumbrances, by warranty deed, subject to ___________.

4. Disclosures

In accordance with the West Virginia Residential Real Property Disclosure Act, Seller shall provide Buyer with a completed disclosure statement concerning the condition of the Property prior to or at the time of executing this Agreement.

5. Inspection

Buyer shall have the right to inspect the Property within ___________ days after the effective date of this Agreement. Should any unacceptable conditions be reported, Buyer may:

• Request that Seller repairs such conditions to the satisfaction of Buyer before closing;
• Accept the Property in its present condition; or
• Terminate this Agreement and have the earnest money deposit returned in full.

6. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of West Virginia.

7. Entire Agreement

This Agreement constitutes the entire agreement between the Parties pertaining to its subject matter and supersedes all prior agreements, representations, and understandings of the Parties. No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing by all Parties.

8. Signatures

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the ___________ day of ___________, 20____.

________________________________
Seller’s Signature

________________________________
Buyer’s Signature