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CHICAGO ASSOCIATION OF REALTORS RESIDENTIAL REAL ESTATE PURCHASE AND SALE CONTRACT (single family home/fee simple town home) Rev. 01/2012 1 2 3 4 5 1. Contract. This Residential Real Estate Purchase

How to fill out residential real estate purchase

How to fill out a residential real estate purchase:

1. Obtain the necessary forms: Begin by acquiring the required documents for the residential real estate purchase. This typically includes a purchase agreement, disclosure forms, and any other specific paperwork required by your state or region.
2. Review the purchase agreement: Carefully read through the purchase agreement, which outlines the terms of the sale. Take note of important details such as the purchase price, financing conditions, contingencies, and any seller disclosures.
3. Complete personal information: Fill in your personal information, including your legal name, current address, and contact details. It's important to provide accurate information in order to avoid any misunderstandings or delays.
4. Specify the property details: Provide the specific details of the property you are purchasing. This may include the address, legal description, and parcel number. Additionally, include any specific conditions or contingencies related to the property.
5. Determine the purchase price and payment terms: Indicate the agreed-upon purchase price for the residential real estate. Specify the payment terms, including the amount of the initial deposit, down payment, and the schedule for making subsequent payments. If financing is involved, specify the type of loan and lender information.
6. Include any contingencies: Contingencies protect buyers by allowing them to cancel the purchase agreement if certain conditions are not met. These may include contingencies for home inspections, obtaining financing, or the sale of the buyer's current property. Clearly outline any contingencies that apply to your purchase.
7. Sign and date the document: Once you have carefully reviewed all the information and filled out the necessary sections, sign and date the residential real estate purchase agreement. If there are multiple buyers, each individual should sign separately.

Who needs residential real estate purchase?

1. Homebuyers: Individuals or families looking to purchase a residential property for personal use require a residential real estate purchase agreement. This includes first-time homebuyers, those relocating to a new area, or investors purchasing rental properties.
2. Sellers: Sellers of residential real estate also need a purchase agreement in order to formalize the terms of the sale. This document ensures a legally binding agreement to protect both parties involved in the transaction.
3. Real estate agents: Real estate agents play a crucial role in the buying or selling process. They assist both buyers and sellers in navigating the residential real estate purchase agreement, ensuring all necessary information is included and guiding their clients through the transaction.

For pdfFiller’s FAQs

What is residential real estate purchase?

Residential real estate purchase refers to the acquisition of property primarily intended for personal use or as an investment to generate rental income.

Who is required to file residential real estate purchase?

Individuals or entities who have purchased residential real estate properties are required to file residential real estate purchase forms with the appropriate authorities.

How to fill out residential real estate purchase?

To fill out a residential real estate purchase form, you will need to provide details about the property, purchase price, parties involved in the transaction, financing details, and any other relevant information.

What is the purpose of residential real estate purchase?

The purpose of residential real estate purchase is to acquire property for personal use, as a rental investment, or for future resale at a profit.

What information must be reported on residential real estate purchase?

Information such as the property address, purchase price, financing details, parties involved in the transaction, and any additional terms or conditions of the purchase must be reported on residential real estate purchase forms.

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