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How to fill out real estate purchase agreement

01

Start by including the basic information of the buyer and seller, such as their names and contact details.

02

Clearly state the property's address and legal description to avoid any confusion.

03

Specify the agreed-upon purchase price and the payment terms, including any deposit or down payment required.

04

Outline any contingencies or conditions that must be met before the sale can proceed, such as financing or inspection requirements.

05

Include any specific terms or conditions that both parties have agreed upon, such as the closing date or seller concessions.

06

Clearly state any warranties or guarantees provided by the seller, as well as any disclosures or defects known about the property.

07

Specify who will be responsible for paying the closing costs and any other fees associated with the sale.

08

Include a provision for dispute resolution, such as mediation or arbitration, in case any conflicts arise.

09

Ensure that both parties sign and date the agreement, and consider having it notarized for extra legal protection.

10

Keep copies of the fully executed agreement for both the buyer and seller's records.

Who needs real estate purchase agreement?

01

Any individual or entity planning to purchase or sell real estate property needs a real estate purchase agreement.

02

It is commonly used by home buyers, property investors, real estate agents, and property developers.

03

This agreement ensures that the terms and conditions of the sale are clearly defined and legally binding for both parties involved.

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