Get the free Oklahoma Uniform Contract of Sale of Real Estate

This document is a legally binding contract between the seller and buyer for the sale of a vacant lot/land in Oklahoma, outlining terms, conditions, and obligations for both parties.

How to fill out oklahoma uniform contract of

How to fill out Oklahoma Uniform Contract of Sale of Real Estate

1. Obtain the Oklahoma Uniform Contract of Sale of Real Estate form.
2. Fill in the names and addresses of both the buyer and the seller at the top of the document.
3. Specify the legal description of the property being sold.
4. Indicate the sale price and the terms of payment.
5. Outline any financing conditions, if applicable.
6. Include any contingencies, such as inspections or financing approval.
7. State the closing date and any relevant fees or costs associated with the sale.
8. Add any additional provisions or clauses that may be necessary.
9. Both parties should sign and date the contract.

Who needs Oklahoma Uniform Contract of Sale of Real Estate?

1. Individuals looking to buy or sell real estate in Oklahoma.
2. Real estate agents and brokers facilitating transactions.
3. Lawyers assisting clients with real estate contracts.
4. Investors involved in buying or selling properties.

People Also Ask about

Is 5% earnest money too much?

The amount of earnest money deposit varies widely, but generally, it ranges from 1% to 5% of the purchase price. Usually, the buyer and seller agree on the amount that should be paid. A seller may suggest an amount, or they might wait to see what you offer.

Does Oklahoma require earnest money?

Earnest money is not required. However, most sellers will insist on at least a minimal amount of earnest money for their protection. For established residential properties (not a vacant lot, and not a new home build), a de minimis amount of $500 or $1,000 is often used for parties that are familiar with each other.

Does a real estate sales contract need to be notarized?

The answer is that real estate purchase agreements do not need to be notarized or witnessed in order to be legally binding.

Is $500 enough earnest money?

Some home buyers pay as little as $500, while others pay several thousand dollars. The amount is negotiable between you and the sellers. It depends on various factors, including the price of the home, the strength of the local real estate market, and your financial situation.

Can I write my own real estate contract?

Writing your own contracts is perfectly possible, and legal. But it's also an incredibly bad idea. There's two reasons for this: Property law is complicated. Because it's such a fundamental part of legislation, it's often lots and lots of different laws layered on top of each other.

What is a typical earnest money offer?

Earnest money deposits are usually 1% to 3% of a home's purchase price. For example, a $300,000 home will require an earnest money deposit between $3,000 to $9,000. Your real estate agent may recommend a different percentage depending on local practices and current market conditions.

How much earnest money is required in Oklahoma?

If parties are not personal acquaintances, which is the vast majority of transactions, the general practice is to use anywhere from 1 – 3% of the total purchase price; 1% is an extremely common earnest money amount in Oklahoma residential transactions.

What must a real estate sales contract contain to be legally binding?

The contract must contain a detailed description of the goods or property being sold. For real estate, this includes the property's legal description, physical address, and any fixtures or items included in the sale.

For pdfFiller’s FAQs

What is Oklahoma Uniform Contract of Sale of Real Estate?

The Oklahoma Uniform Contract of Sale of Real Estate is a standardized legal document used to outline the terms and conditions of a real estate transaction between a buyer and a seller in Oklahoma.

Who is required to file Oklahoma Uniform Contract of Sale of Real Estate?

Parties involved in the real estate transaction, typically the buyer and seller, may be required to file the Oklahoma Uniform Contract of Sale of Real Estate with the appropriate county office to ensure proper documentation of the agreement.

How to fill out Oklahoma Uniform Contract of Sale of Real Estate?

To fill out the Oklahoma Uniform Contract of Sale of Real Estate, parties must provide pertinent details including the names of the buyer and seller, property description, purchase price, terms of payment, and any contingencies or special conditions, ensuring all information is accurate and complete.

What is the purpose of Oklahoma Uniform Contract of Sale of Real Estate?

The purpose of the Oklahoma Uniform Contract of Sale of Real Estate is to provide a clear and legally binding agreement that outlines the rights and responsibilities of both the buyer and seller, facilitating a smooth real estate transaction.

What information must be reported on Oklahoma Uniform Contract of Sale of Real Estate?

The Oklahoma Uniform Contract of Sale of Real Estate must report information such as the buyer's and seller's names, property address, purchase price, deposit amount, closing date, and any applicable contingencies or disclosures.