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CITY OF BLAINE REQUEST FOR COUNCIL ACTION MEETING DATE: September 9, 2019, SUBJECT: Purchase and Sale Agreement between City of Blaine and Family Care Network for approximately Two and One Half Acres

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What is purchase and sale agreement?

A purchase and sale agreement is a legally binding contract that outlines the terms and conditions of a property transaction between a buyer and a seller.

Who is required to file purchase and sale agreement?

Typically, the buyer and seller involved in a property transaction are required to file a purchase and sale agreement.

How to fill out purchase and sale agreement?

A purchase and sale agreement can be filled out by including details such as the purchase price, property description, closing date, and any contingencies that need to be met.

What is the purpose of purchase and sale agreement?

The purpose of a purchase and sale agreement is to ensure that both parties are in agreement on the terms of the property transaction and to provide legal protection for all parties involved.

What information must be reported on purchase and sale agreement?

Information such as the names of the buyer and seller, property address, purchase price, earnest money deposit, and any contingencies or conditions of the sale must be reported on a purchase and sale agreement.

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