Agreement to purchase and sell real estate

[Account Closed]

Doing FSBO on a residential property, sales price less than 160K Which is better for me, as seller, to use, this agreement, or, the Letter of intent to Purchase in the next post? What needs improved, and how? What's missing?
Thanks,
Ofgift

Agreement to purchase and sell real estate

1: PARTIES: _____, Trustee, (Seller), agrees to sell and convey to _____________________________ (Buyer) and Buyer agrees to buy from Seller the property described below:

2: PROPERTY: That particular real property comprising; _________________, Lot ____ otherwise known __________________, ____________________, ______ County, Arizona. Together with all of the following items; window coverings, mirrors, lighting and plumbing fixtures, installed heating and evaporative cooling units with controls, shrubbery and all other property owned by the Seller and attached to the above described real property.

3: SALES PRICE:

A. Cash portion of Sales Price payable by buyer $ ___________

B. Sum of notes described below $ ___________

C. Sales price (Sum of A and B) $___________

4: FINANCING: The portion of the Sales Price not payable in cash shall be paid as follows:
Purchase Offer: $_________________
A) Initial Deposit $______________
B) New first mortgage $_______________
Balance $_______________
5: EARNEST MONEY: Buyer will deposit $_____________ as Earnest Money with _____________________ Title Company.

6. PROPERTY CONDITIONS: Buyer accepts the Property in its present condition.

7: Buyer is liable for all taxes, insurance and Homeowners Association fees from the date of closing of this contract. Buyer will pay the first $400 of document preparation fees.

8. Seller is responsible for all taxes, insurance and Homeowner’s Association fees up to the date of closing.

9: CLOSING: Closing shall be no later than ___________________, 2009.

This contract signed on: ______________________

Seller: ____________________________________

Buyer: ____________________________________