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REAL ESTATE PURCHASE CONTRACT. This is a legally binding Contract. Utah State Law requires real estate licensees to use this form. Buyer and the Seller, ...

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How to fill out real estate purchase contract

How to fill out a real estate purchase contract:

01

Start by obtaining a blank copy of the real estate purchase contract form. This can usually be obtained from your real estate agent, attorney, or local real estate association.

02

Begin by entering the date of the contract at the top of the form. This will indicate when the agreement is being made.

03

Fill in the full legal names of both the buyer and the seller. It is important to ensure that the names are spelled correctly and match the identification documents.

04

Provide the full address of the property being purchased. Include any unit numbers or additional details necessary to accurately identify the property.

05

Enter the agreed-upon purchase price for the property. This should be in both numerical form and written out as words to eliminate any confusion.

06

Include the amount of the earnest money deposit, which is a predetermined sum of money provided by the buyer to demonstrate seriousness in purchasing the property.

07

Indicate the desired closing date, which is the date when the transfer of ownership and funds will take place.

08

Outline any contingencies or conditions that must be met before the sale can proceed. This may include inspections, loan approval, or the sale of the buyer's current property.

09

Specify who will be responsible for paying certain expenses such as closing costs, title insurance, and property taxes. Typically, this is negotiated between the buyer and the seller.

10

Include any additional terms or conditions agreed upon by both parties, such as repairs to be completed before closing or specific items included in the sale.

11

Review the contract thoroughly to ensure that all the necessary details are accurately entered. Seek legal or professional advice if needed.

12

Sign the contract along with the seller and any witnesses as required. Keep a copy for your records.

Who needs a real estate purchase contract?

01

Any individual or entity involved in buying or selling real estate needs a real estate purchase contract.

02

Buyers and sellers of residential properties, commercial properties, vacant land, or any other type of real estate can benefit from having a legally binding contract.

03

Real estate agents, attorneys, and other professionals involved in real estate transactions also rely on purchase contracts to ensure that all parties are protected and the transaction proceeds smoothly.

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What is real estate purchase contract?

A real estate purchase contract is a legally binding agreement between a buyer and seller outlining the terms and conditions of a property transaction.

Who is required to file real estate purchase contract?

The buyer and seller of the property are required to file the real estate purchase contract.

How to fill out real estate purchase contract?

To fill out a real estate purchase contract, you will need to include details such as the purchase price, property description, contingencies, and signatures of both parties.

What is the purpose of real estate purchase contract?

The purpose of a real estate purchase contract is to protect the interests of both the buyer and seller by outlining the terms of the property transaction.

What information must be reported on real estate purchase contract?

Information that must be reported on a real estate purchase contract includes the names of the buyer and seller, property address, purchase price, and any contingencies or special terms.

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