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A purchase and sale agreement is a document used in real estate transactions, when a seller property owner (''Seller'') sells a property to a company or individual (''Buyer''). This document outlines the terms and conditions of transaction. Information contained in the document includes the names of both parties, the address and description of the property the agreement concerns, and the purchase price. The closing details of the transaction are included in the document outlining where and when closing on the property shall occur.

When purchasing a property, particularly with a cash payment, a real estate investor may provide earnest money as a deposit. This information will be present in the contract and will include details on the amount and how it shall be paid to the seller. If a loan is being used to purchase the property, details of the lender and the amount will be included in the document.

There may be clauses regarding property taxes and disclosures of potential issues of the property. If the seller agrees to perform certain repairs before transfer of ownership to the buyer, the repairs may be contained within the agreement. Some buyers may request fixtures or furnishings along with the sale of the property, and these will be listed within the document. A purchase and sale agreement may also contain warranties, waiver of claims, and information about the title insurance policy.

Purchase and Sale Agreement Involving Tennessee Governing Law

Provided below are links to Purchase and Sale Agreements with Tennessee governing law clauses. Governing law provisions (also knows as choice of law or controlling law clauses) in contracts are frequently used by the agreement parties to specify which jurisdiction's laws will be applied to interpreting the contractual provisions and obligations. By quickly reviewing Purchase and Sale Agreements to find contracts with Tennessee governing law, you can customize your agreements to meet Tennessee requirements.

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