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Contract Number RESIDENTIAL PURCHASE CONTRACT (For Use in Common Law and Designated Agency Brokerages) Between and THE SELLER THE BUYER Name 1. 1.1 THE PROPERTY
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How to fill out residential bpurchaseb contract

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How to fill out a residential purchase contract:

01
Begin by identifying the parties involved in the contract, including the buyer and seller. Include their full names, addresses, and contact information.
02
Specify the property being purchased by providing the complete address and legal description.
03
Include the purchase price agreed upon by both parties. This should be clearly stated in numbers and written out in words to avoid any confusion.
04
Determine the method of payment, such as whether it will be paid in full or with an initial deposit and subsequent installments.
05
Outline any contingencies or conditions that must be met for the contract to be binding. This may include obtaining financing, satisfactory inspection results, or resolving any legal or title issues.
06
Specify the closing date, which is when the transfer of ownership will occur. Also, include the location where the closing will take place.
07
Determine who will be responsible for paying the closing costs, including fees for attorneys, title searches, insurance, and any applicable taxes or assessments.
08
Include any additional terms or special provisions agreed upon by both parties. This can include items like appliances or furniture being included in the sale, repairs to be completed before closing, or any specific warranties or guarantees.
09
Provide a space for both the buyer and seller to sign and date the contract. It is important to have this document notarized to ensure its legality.

Who needs a residential purchase contract?

01
Individuals or families looking to purchase a residential property, whether it is a house, condominium, or townhouse.
02
Real estate agents, brokers, or attorneys representing either the buyer or seller in the transaction.
03
Lenders or financial institutions providing financing for the purchase.
Remember, it is always advisable to consult with a qualified real estate professional or attorney when filling out a residential purchase contract to ensure all legal requirements are met and to protect your interests.
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A residential purchase contract is a legal document that outlines the terms and conditions of a real estate transaction between a buyer and a seller.
The buyer and seller are usually required to sign and file the residential purchase contract.
To fill out a residential purchase contract, the buyer and seller must include details such as the purchase price, closing date, and any contingencies.
The purpose of a residential purchase contract is to protect both the buyer and seller by clearly outlining the terms of the sale.
Information such as the property address, purchase price, down payment amount, and any contingencies must be reported on a residential purchase contract.
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