Ohio Purchase Agreement for Vacant Land

Buy and sell bare land in the State of Ohio with this Land Purchase Agreement.

• There is a 30-day period for satisfaction or waiver of the buyer's contingencies prior to closing. The closing date may be extended if agreed to by the parties.
• The escrow agent will hold the buyer's deposit and apply it to the purchase price as earnest money at closing. The balance of the purchase price will be paid over time under the terms of a promissory note, which will be secured by a pledge agreement.
• The purchase is contingent on the seller obtaining an acceptable Phase I environmental report on the property.
• The buyer must obtain a commitment for title insurance on the parcel.
• The buyer will be responsible for the costs of any desired surveys or additional environmental reports, as well as the cost of the title insurance. The seller will be responsible at its sole cost for curing any defects in title that are not acceptable to the buyer.
• At closing the seller will provide the buyer with a registrable warranty deed, a seller's affidavit regarding all off-record title matters, a FIRPTA affidavit, a closing statement, and any other documents that are necessary to complete the conveyance of the real property.
• Both parties agree to indemnify and hold the other party harmless from any commissions or broker's fees.
• Available in MS Word format. Fully editable.
• Intended to be used only in the State of Ohio.