Purchase Agreement — 1245 Oak Meadow Dr
RESIDENTIAL PURCHASE AGREEMENT
State of Texas | Form TREC 20-16
1. PARTIES: This agreement is entered into between the Buyer(s), Maria & Luis Gonzalez, and the Seller(s), Johnson Family Trust, for the property commonly known as 1245 Oak Meadow Drive, Austin, TX 78745.
2. PURCHASE PRICE: The total purchase price shall be $485,000.00 USD (Four Hundred Eighty-Five Thousand Dollars), payable under the terms specified in Section 4 of this agreement.
3. EARNEST MONEY: Within three (3) business days of execution, Buyer shall deposit earnest money of $10,000.00 with the escrow agent identified in Section 9.
4. FINANCING: This purchase is contingent upon Buyer obtaining a conventional mortgage loan in the amount of $388,000.00at a rate not to exceed 6.75% per annum, with a term of 30 years.
5. CLOSING: Closing shall take place on or before April 30, 2026, at the office of the title company identified in Section 9, unless extended by written agreement of both parties.
[Sections 6-14 continue on subsequent pages covering inspections, title commitment, property condition, representations, default remedies, and additional provisions...]
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