VERMONT RESIDENTIAL PURCHASE AND SALE AGREEMENT

This Vermont Residential Purchase and Sale Agreement (the "Agreement") is made as of [[Agreement Date]] by and between:

Seller: [[Seller Full Legal Name(s)]] ("Seller"), whose address for notices is [[Seller Notice Address]]

Buyer: [[Buyer Full Legal Name(s)]] ("Buyer"), whose address for notices is [[Buyer Notice Address]]

Seller agrees to sell and convey to Buyer, and Buyer agrees to purchase from Seller, the real property described below upon the terms and conditions set forth in this Agreement.

1. Property

The real property that is the subject of this Agreement is located in the State of Vermont at:

[[Property Street Address]]

[[City]], Vermont [[ZIP Code]]

Legal description: [[Full Legal Description or Reference to Deed Book/Page]]

Tax parcel ID / SPAN: [[Tax Parcel ID or SPAN]]

The Property includes the land, all buildings and improvements thereon, and the following items of personal property: [[Included Personal Property and Fixtures]].

The Property is conveyed subject to easements, restrictions, and encumbrances of record that do not materially interfere with residential use, and current real property taxes.

2. Purchase Price

The total purchase price is [[Purchase Price]] (the "Purchase Price"), payable as follows:

• Earnest money deposit (see Section 3)
• Balance due at Closing in immediately available funds (cash, wire, or certified check)

Buyer shall pay the Purchase Price subject to prorations and adjustments as provided herein.

3. Earnest Money Deposit

Upon execution of this Agreement, Buyer shall deposit with the Escrow Agent named below the sum of [[Earnest Money Deposit Amount]] (typically 1% to 5% of the Purchase Price as market practice).

The deposit shall be held by:

Escrow Agent: [[Escrow Agent or Closing Attorney Name]]

Escrow Agent Address: [[Escrow Agent Address]]

Escrow Agent Phone/Email: [[Escrow Contact]]

The earnest money shall be applied to the Purchase Price at Closing. If this Agreement is terminated in accordance with its terms prior to Closing, the deposit shall be disbursed as provided in the applicable contingency or default section.

4. Financing Contingency

This Agreement is contingent upon Buyer obtaining a firm written commitment for a mortgage loan in the amount of [[Loan Amount]] (or such other amount as Buyer may elect) on terms reasonably acceptable to Buyer within [[Financing Contingency Period]] days after the Effective Date of this Agreement.

Buyer shall apply for financing promptly and in good faith. If Buyer is unable to obtain financing despite good faith efforts, Buyer may terminate this Agreement by written notice to Seller and receive a full refund of the earnest money deposit.

5. Appraisal Contingency

This Agreement is contingent upon the Property appraising at or above the Purchase Price. Buyer shall order the appraisal within a reasonable time. If the appraised value is less than the Purchase Price, the parties may renegotiate or Buyer may terminate this Agreement within [[Appraisal Contingency Period]] days after receipt of the appraisal report and receive a refund of the deposit.

6. Inspection and Due Diligence Contingency

Buyer shall have the right to conduct physical, environmental, pest, septic, well, radon, and any other inspections of the Property that Buyer deems appropriate.

Per Vermont Law and VLTA best practices, the inspection period shall be ten (10) business days after the Effective Date of this Agreement (the "Inspection Period").

1. Buyer shall complete all inspections and deliver written notice of any objections, requests for repairs, or cancellation within the Inspection Period.

2. Seller shall provide reasonable access to the Property during the Inspection Period.

3. If Buyer elects to cancel based on inspection results, Buyer shall provide written notice and the earnest money shall be returned.

4. Absent timely notice, the inspection contingency is waived and Buyer accepts the Property in its present condition except as otherwise stated.

Buyer shall restore the Property to its prior condition after inspections.

7. Title Examination and Marketable Title

Seller shall convey marketable title to the Property by warranty deed (or special warranty deed as agreed), free and clear of all liens and encumbrances except:

• Current property taxes not yet due and payable
• Easements and restrictions of record that do not materially affect use
• Any other matters approved by Buyer in writing

Buyer shall order a title search and commit within [[Title Search Period]] days. Buyer shall have [[Title Objection Period]] days after receipt to object in writing to any title defects. Seller shall have a reasonable time to cure.

Closing shall be conducted through a Vermont-licensed closing attorney.

8. Required Vermont Disclosures and Permits

Seller represents and shall deliver the following disclosures and information as required under Vermont law, including but not limited to 10 V.S.A. § 6083 and related provisions:

1. Lead-based paint disclosure and pamphlet if the residential structure was built before 1978 (federal + state requirements).

2. Disclosure of any Act 250 land use permit or permit amendments applicable to the Property, including conditions and expiration.

3. Information regarding the water supply (private well or municipal) and wastewater/septic system, including any permits, design, location, and known issues or failures.

4. Any known material defects affecting the structural integrity, mechanical systems, or environmental condition of the Property.

5. Smoke detector and carbon monoxide detector compliance certificate as required by Vermont law for transfer.

6. Any other disclosures required by Vermont statute or municipal ordinance for the jurisdiction.

Buyer acknowledges receipt of the Vermont Property Transfer Tax Return information and any required seller disclosure forms.

9. Taxes Due at Closing

The following Vermont taxes and fees are due at or in connection with Closing and shall be allocated as provided by law and local custom:

Seller shall provide any necessary affidavits or returns for calculation of transfer taxes.

10. Vermont Land Gains Tax

If Seller has held the Property for less than six (6) years, Vermont Land Gains Tax may apply under 32 V.S.A. Chapter 236. Seller is solely responsible for any Land Gains Tax due and shall indemnify Buyer against any claim arising from failure to pay or disclose. Seller shall provide evidence of compliance or exemption at or before Closing if requested.

11. Closing and Possession

Closing shall occur on or before [[Closing Date]] at the offices of the closing attorney or such other location as the parties agree.

Possession shall be delivered to Buyer on the Closing Date (or [[Possession Date]] if different) at [[Possession Time]], with the Property vacant, broom clean, and in the same condition as of the date of Acceptance, reasonable wear and tear excepted, and all personal property of Seller removed.

At Closing, Seller shall deliver:

• Executed deed
• Keys, codes, and access devices
• All required disclosures and certificates (smoke/CO, septic/well if applicable)
• Affidavit of title
• Any required tax forms or returns

12. Prorations and Adjustments

Real property taxes, rents, HOA/condo fees (if any), utilities, and other items shall be prorated as of the Closing Date on a per diem basis using a 365-day year (or 360-day where customary).

Security deposits held by Seller for any tenants shall be transferred to Buyer at Closing.

13. Sale of Buyer's Current Property Contingency (Optional)

If applicable: This Agreement is contingent upon the closing of the sale of Buyer's current property located at [[Buyer's Current Property Address]] on or before [[Buyer's Sale Contingency Date]]. Buyer shall provide Seller with evidence of listing and progress upon request. If this contingency is not satisfied, Buyer may terminate and receive refund of deposit.

14. Default and Remedies

If Buyer defaults, Seller may retain the earnest money as liquidated damages (parties agree this is a reasonable estimate of damages) or pursue other remedies available at law or equity.

If Seller defaults, Buyer may recover the earnest money plus actual damages or seek specific performance.

Neither party shall be in default until written notice and a reasonable cure period (not less than 5 business days) has expired, except for failure to close on the scheduled date.

15. Risk of Loss

Risk of loss or damage to the Property by fire or other casualty remains with Seller until Closing. If the Property is damaged prior to Closing to an extent that substantially impairs its value or use, Buyer may terminate and receive refund of deposit, or the parties may renegotiate.

16. Representations and Warranties of Seller

Seller represents and warrants that:

1. Seller has good and marketable title and full authority to sell.

2. There are no pending or threatened legal proceedings affecting the Property except as disclosed.

3. The Property is not in violation of any applicable law, ordinance, or permit condition known to Seller.

4. All information provided in disclosures is true and complete to Seller's knowledge.

5. Seller is not a "foreign person" under FIRPTA or will provide the required affidavit.

17. Representations and Warranties of Buyer

Buyer represents that Buyer has the financial ability to complete the purchase (subject to financing contingency) and has had the opportunity to inspect.

18. Brokerage

Seller and Buyer each represent that they have dealt only with the brokers identified below in connection with this transaction:

Listing Broker: [[Listing Broker Name and Firm]]

Buyer's Broker: [[Buyer's Broker Name and Firm]]

Commissions shall be paid as agreed in separate listing and buyer representation agreements.

19. Assignment

Buyer may not assign this Agreement without Seller's prior written consent, which shall not be unreasonably withheld.

20. Notices

All notices under this Agreement shall be in writing and delivered by hand, certified mail, overnight courier, or email with confirmation to the addresses set forth above or to such other address as a party designates in writing.

21. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of the State of Vermont. Any dispute shall be resolved in the courts of the county in which the Property is located.

22. Entire Agreement; Amendments

This Agreement, including all addenda and exhibits attached hereto, constitutes the entire agreement between the parties and supersedes all prior negotiations, representations, and agreements. No modification shall be binding unless in writing signed by both parties.

23. Severability

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue in full force and effect.

24. Time of Essence; Computation of Time

Time is of the essence. References to "days" mean calendar days unless business days are specified. Deadlines falling on a weekend or Vermont legal holiday are extended to the next business day.

25. Counterparts; Electronic Signatures

This Agreement may be executed in counterparts and by electronic signature (including DocuSign or similar), each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

26. Exhibits and Addenda

The following exhibits and addenda are attached and incorporated by reference:

• Exhibit A: Legal Description (if not in body)
• Exhibit B: Lead-Based Paint Disclosure (if pre-1978)
• Exhibit C: Act 250 / Permit Disclosure
• Exhibit D: Water and Wastewater System Disclosure
• Addendum 1: [[Additional Terms or Inspection Addendum]]
• Other: [[Other Addenda or Riders]]

27. Additional Terms and Conditions

The following additional terms and conditions are agreed by the parties:

[[Additional Terms and Conditions]]

28. Confirmation of Receipt

Each party acknowledges receipt of a fully signed copy of this Agreement and all required disclosures and reports.

29. Signatures

SELLER

Signature: _______________________________ Date: [[Seller Signature Date]]

Printed Name: [[Seller Full Legal Name(s)]]

BUYER

Signature: _______________________________ Date: [[Buyer Signature Date]]

Printed Name: [[Buyer Full Legal Name(s)]]

WITNESS (if required by Vermont law or custom)

Signature: ______________________________ Date: _________

Printed Name: [[Witness Name]]

CLOSING ATTORNEY ACKNOWLEDGMENT

The undersigned Vermont attorney confirms this transaction will close in accordance with Vermont requirements for title examination and deed transfer.

Attorney Name / Firm: [[Closing Attorney Name and Firm]]

Signature: ______________________________ Date: _________, -

*Vermont Residential Purchase and Sale Agreement template. Provisions incorporate Vermont-specific requirements including disclosures under 10 V.S.A. § 6083 (lead paint, Act 250 permits, water/wastewater systems), VLTA best-practice 10-business-day inspection period, attorney-state closing requirements, Education and Property Transfer Taxes (0.5%, 1.25%), potential Vermont Land Gains Tax for short-term holdings, and smoke/CO detector compliance certificates. Earnest money is customarily 1, 5% and held by escrow/closing agent. No statutory fixed contingency timeline exists; parties should use reasonable periods and act in good faith.*

*This is a template example, not legal advice. Parties must verify all terms, disclosures, tax rates, and local requirements with a Vermont-licensed real estate attorney and closing professional. Statutes and forms are current as of 2026-06; confirm with official Vermont sources and the Vermont Bar Association or VLTA forms for any updates or municipal variations before use.*

*Sources: 10 V.S.A. § 6083 and related chapters; 32 V.S.A. (tax provisions); VLTA standard practices; Vermont Department of Taxes guidance.*