Get the free RESIDENTIAL PURCHASE CONTRACT FOR RESALE CONDOMINIUM PROPERTY

Contract Number RESIDENTIAL PURCHASE CONTRACT FOR RESALE CONDOMINIUM PROPERTY (For Use in Common Law and Designated Agency Brokerages) Between THE SELLER and THE BUYER Name 1

How to fill out residential purchase contract for

How to fill out a residential purchase contract:

1. Start by obtaining the necessary documents: Gather all the required paperwork for the residential purchase contract, including the contract template, property information, and any specific instructions provided by the seller or real estate agent.
2. Identify the parties involved: Clearly state the names and contact information of both the buyer and seller in the contract. Include their full legal names, addresses, phone numbers, and email addresses.
3. Describe the property: Provide a detailed description of the property being purchased, including the address, legal description, and any unique features or amenities.
4. Specify the purchase price: Clearly state the agreed-upon purchase price for the property. Include any additional costs or fees that may be involved, such as closing costs or taxes.
5. Outline the financing terms: If the purchase is being financed, describe the terms of the loan, including the loan amount, interest rate, and repayment schedule. Specify if any contingencies or conditions need to be met for the financing to go through.
6. Include any contingencies: Contingencies are conditions that need to be met before the sale can be finalized. Common contingencies include home inspections, appraisal, loan approval, and the sale of the buyer's current property. Ensure that all contingencies are clearly outlined in the contract.
7. Address property disclosures: Both buyers and sellers have certain obligations to disclose any known issues or defects with the property. Ensure that the contract includes a section for property disclosures, where both parties can disclose any relevant information.
8. Determine the closing date: Agree upon a specific closing date – the date by which the sale will be finalized. This is typically determined by coordinating with all parties involved, such as the buyer, seller, real estate agents, and mortgage lenders.

Who needs a residential purchase contract:

1. Homebuyers: Individuals or families looking to purchase a residential property need a residential purchase contract to formalize the terms of the sale and protect their interests.
2. Sellers: Homeowners who are selling their property need a residential purchase contract to outline the terms of the sale and ensure that their rights and obligations are clearly defined.
3. Real estate agents: Agents representing either the buyer or the seller must be familiar with residential purchase contracts as part of their professional responsibilities. They can guide their clients through the process and assist in filling out the contract accurately.

In summary, anyone involved in a residential property purchase, including buyers, sellers, and real estate agents, needs a residential purchase contract to ensure a smooth and legally binding transaction.

For pdfFiller’s FAQs

What is residential purchase contract for?

Residential purchase contract is used to outline the terms and conditions of a property sale transaction between a buyer and a seller.

Who is required to file residential purchase contract for?

The buyer and seller involved in a residential property sale are required to file a residential purchase contract.

How to fill out residential purchase contract for?

To fill out a residential purchase contract, both parties need to include details such as purchase price, property address, closing date, contingencies, and any other agreed upon terms.

What is the purpose of residential purchase contract for?

The purpose of a residential purchase contract is to establish a legally binding agreement between the buyer and seller for the sale of a property.

What information must be reported on residential purchase contract for?

Information such as buyer and seller names, property details, purchase price, financing terms, and any conditions of the sale must be reported on a residential purchase contract.

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