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RESIDENTIAL CONTRACT OF SALE Jointly Prepared by the Real Property Section of the New York State Bar Association, the New York State Land Title Association, the Committee on Real Property Law of the

How to fill out residential contract of sale

How to fill out a residential contract of sale:

1. Begin by entering the date of the contract at the top of the document.
2. Fill in the legal names and contact information of both the buyer and the seller.
3. Include a detailed description of the property being sold, including the address, lot number, and any specifics about the land or structures.
4. Specify the purchase price and payment terms, including the deposit amount and any additional financing arrangements.
5. Detail any contingencies or conditions of the sale, such as a satisfactory home inspection or the sale of another property.
6. Include any warranties or guarantees provided by the seller regarding the condition of the property.
7. Outline the closing and possession dates, as well as any prorated expenses or taxes that will be shared between the buyer and seller.
8. Include any additional provisions or special agreements that have been made between the parties, such as repairs or modifications to be completed prior to the sale.
9. Signatures from both the buyer and seller, as well as any witnesses, should be obtained to validate the contract.

Who needs a residential contract of sale?

1. Homebuyers who are purchasing a property from a seller.
2. Sellers who are selling a residential property to a buyer.
3. Real estate agents or brokers who are facilitating the sale of a residential property between buyers and sellers.

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What is residential contract of sale?

A residential contract of sale is a legal document outlining the terms and conditions of a property sale between a buyer and a seller.

Who is required to file residential contract of sale?

The buyer and the seller are both required to file the residential contract of sale.

How to fill out residential contract of sale?

Residential contract of sale can be filled out by including details of the property, purchase price, closing date, and any other relevant terms agreed upon by the buyer and seller.

What is the purpose of residential contract of sale?

The purpose of a residential contract of sale is to formalize the agreement between the buyer and seller for the sale of a property.

What information must be reported on residential contract of sale?

Information such as the property address, legal description, purchase price, closing date, and any contingencies should be reported on the residential contract of sale.