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STANDARD BERKSHIRE COUNTY MULTIPLE LISTING SERVICE PURCHASE AND SALE AGREEMENT LAND SELLER(S) 1. PARTIES: BUYER(S) Name(s) Address 2. DESCRIPTION: Subject to the terms and conditions hereinafter set

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How to fill out purchase and sale agreement

How to fill out a purchase and sale agreement:

01

Start by identifying the parties involved: Write down the names and contact information of the buyer and seller.

02

List the property details: Include the address, legal description, and any other relevant information about the property being sold.

03

Specify the purchase price: Clearly state the agreed-upon amount that the buyer will pay the seller for the property.

04

Outline the payment terms: Specify how the buyer will make the payment, such as through cash, financing, or installments. Include any relevant deadlines or conditions.

05

Include contingencies: If there are any conditions that must be met before the sale can be completed, such as obtaining financing or a satisfactory inspection, outline those contingencies in the agreement.

06

Address closing costs: Determine who will be responsible for paying the closing costs, such as transfer taxes, title insurance, or attorney fees. Clarify whether the buyer or seller will bear these expenses.

07

Add any additional terms: If there are any specific requests or agreements between the buyer and seller, include them in the agreement. This could include things like repairs, included appliances or furnishings, or the timeline for possession.

08

Sign and date the agreement: Both the buyer and seller must sign and date the document to make it legally binding.

Who needs a purchase and sale agreement?

01

Real estate buyers and sellers: Any individuals or entities involved in the buying or selling of a property may require a purchase and sale agreement.

02

Real estate agents and brokers: Professionals in the real estate industry often use purchase and sale agreements when representing clients in property transactions.

03

Attorneys and legal professionals: Lawyers and legal professionals may draft or review purchase and sale agreements to ensure they meet legal requirements and protect their clients' interests.

04

Banks and financial institutions: Lenders may require a purchase and sale agreement as part of the mortgage or financing process to ensure that their interests are protected during the property transaction.

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