I need advice on this contract

[Isiah White]

i was wondering if anyone could look over this contract and let me know if it would be a good idea to use this specific contract i live in ny state. i simply want to know if you would personally use this contract yourself. thanks in advance to anyone who responds.

Purchase and Sale Agreement

The parties to this Agreement are _______________________, hereinafter referred to as “Buyer”, and___________________________________________________________, hereinafter referred to as “Seller”.

Buyer agrees to buy and Seller agrees to sell that real property located at ___________________________________________________________________________________________, being located in __________________ County, _____________, and being more fully described in the records as they are recorded in the _______________________ County Court House (hereinafter referred to as the "Property").

Buyer agrees to pay Seller and Seller agrees to accept _______________________________________________________________________________________DOLLARS ($________________________) in cash at closing for the Property. Buyer has paid to Seller an earnest money deposit of $ 10.00, which shall be credited to Buyer at the closing of this Agreement. Property taxes shall be prorated as of the date of closing.

Possession shall be given immediately. Seller will pay all taxes and assessments due and payable to the date of closing. Seller will pay for deed preparation, title search, and title insurance. Buyer assumes and agrees to pay taxes and assessments due after the date of closing, and will pay for closing fee, and recording fees. Transaction will be closed at the title company of Buyers choice.

Seller warrants that Seller has good, clear and marketable title to the Property, subject only to property taxes and any easements and restrictions of record. Seller will convey title to Buyer with a General Warranty Deed.

Seller will allow Buyer and/or his inspector’s complete access to the property for a whole-house inspection, a wood-destroying pest inspection, and any other inspections the Buyer deems necessary, all at the Buyers expense. The Buyers obligation to close is contingent upon the results of these inspections being satisfactory to the Buyer.

Buyer will inspect title to the Property and Seller will satisfy any encumbrances other than those listed above.

Buyer and seller agree that, upon any default by the Buyer, Seller will keep any earnest money as full liquidated damages. Seller understands that if property is not marketable, for whatever reason, buyer will be refunded the total earnest money deposit.

TIME BEING OF THE ESSENCE, this Agreement will be closed on of before ________________, 20____, and be extended as necessary to complete all paperwork required.

ADDITIONAL TERMS, CONDITIONS OR EXHIBITS:

This being the entire Agreement between the parties, they approve this Agreement on this _____ day of ________________, 20_____.

__________________________________ ______________________

Buyer Date

I/We as Sellers accept the above contract.

__________________________________ ______________________

Seller Date

__________________________________ ______________________