Get the free Residential Sales Contract - John Nitzken REALTORS

GREATER LOUISVILLE ASSOCIATION OF REALTORS, INC. This document is copyrighted by the Greater Louisville Association of REALTORS, Inc. and is for the use of its Members only. Residential Sales Contract

How to fill out residential sales contract

How to fill out a residential sales contract:

1. Begin by carefully reviewing the contract document. Read through each section and make sure you understand the terms and conditions outlined in the agreement.
2. Gather all necessary information and documents related to the sale. This may include property details, purchase price, financing terms, and any contingencies or conditions.
3. Fill in the buyer's and seller's information accurately. Include their full names, addresses, contact numbers, and any other relevant details.
4. Specify the property being sold. Provide a detailed description of the property, including its address, legal description, and any additional features or amenities.
5. Indicate the purchase price and payment terms. Clearly state the agreed amount for the property and how the payment will be made (cash, financing, etc.). Include any deposit or down payment required.
6. Include any contingencies or conditions. If there are any specific conditions that must be met before the sale can proceed, such as a satisfactory home inspection or obtaining financing, clearly outline them in this section.
7. Outline the timeline and important dates. Include the closing date, the deadline for inspections or appraisals, and any other significant milestones related to the sale.
8. Specify the responsibilities and obligations of both the buyer and the seller. This may involve things like property repairs, shared expenses, and transfer of utilities.
9. Include any additional provisions or addendums. If there are specific terms or agreements that need to be addressed separately, attach them as addendums to the contract.
10. Seek legal advice, if necessary. If you are unsure about any part of the contract or need extra guidance, it is always a good idea to consult with a real estate attorney or professional.

Who needs a residential sales contract?

1. Home Buyers: Buyers looking to purchase a residential property need a sales contract to outline the terms of the purchase, protect their interests, and ensure a legal and smooth transaction.
2. Home Sellers: Sellers require a residential sales contract to clearly define the terms of the sale, protect their rights, and ensure that the buyer fulfills their obligations.
3. Real Estate Agents: Agents play a vital role in facilitating property transactions and often oversee the drafting and execution of residential sales contracts to protect their clients' interests and ensure compliance with legal requirements.
4. Real Estate Attorneys: Attorneys specializing in real estate law provide guidance and legal expertise to both buyers and sellers when drafting and reviewing residential sales contracts. They ensure the contract accurately reflects their client's intentions and protects their rights.

For pdfFiller’s FAQs

How can I send residential sales contract for eSignature?

When your residential sales contract is finished, send it to recipients securely and gather eSignatures with pdfFiller. You may email, text, fax, mail, or notarize a PDF straight from your account. Create an account today to test it.

Can I sign the residential sales contract electronically in Chrome?

Yes, you can. With pdfFiller, you not only get a feature-rich PDF editor and fillable form builder but a powerful e-signature solution that you can add directly to your Chrome browser. Using our extension, you can create your legally-binding eSignature by typing, drawing, or capturing a photo of your signature using your webcam. Choose whichever method you prefer and eSign your residential sales contract in minutes.

How do I edit residential sales contract straight from my smartphone?

The pdfFiller mobile applications for iOS and Android are the easiest way to edit documents on the go. You may get them from the Apple Store and Google Play. More info about the applications here. Install and log in to edit residential sales contract.

What is residential sales contract?

A residential sales contract is a legal document that outlines the terms and conditions of a sale of a residential property.

Who is required to file residential sales contract?

The seller of the residential property is typically required to file the residential sales contract.

How to fill out residential sales contract?

To fill out a residential sales contract, the seller and buyer must include details such as the purchase price, property address, closing date, and any contingencies.

What is the purpose of residential sales contract?

The purpose of a residential sales contract is to protect both the buyer and seller by clearly outlining the terms of the sale.

What information must be reported on residential sales contract?

Information that must be reported on a residential sales contract includes the property address, purchase price, closing date, and any contingencies.

What is the penalty for late filing of residential sales contract?

The penalty for late filing of a residential sales contract may vary depending on the jurisdiction, but common penalties include fines or potential legal consequences.