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When recorded return to REAL ESTATE CONTRACT LONG FORM I. SPECIFIC TERMS A. PARTIES PROPERTY AND PURCHASE PRICE Date Seller Seller s Address Purchaser Purchaser s Address Real Property Legal Description Abbreviated Legal Required if full legal not inserted above. The Seller may elect one of the said options by written notice to the Purchaser within 15 days after being advised in writing of the sale and the transferee and if such election is not made within that period the above rights for the...transaction so described shall be deemed waived. If the Seller elects to adjust the interest rate and subject to any restrictions and prepayment requirements contained in any Prior Encumbrance the entire outstanding balance of this contract may be prepaid at the closing of such conveyance with the Prepayment Premium. For the purposes of this contract a conveyance of the Purchaser s title shall include a transfer by real estate contract vendee s assignment deed forfeiture foreclosure sheriff s...sale trustee s sale deed in lieu of any such involuntary sale lease with purchase option or for a term in excess of three years including extension options and if the Purchaser is a corporation or partnership a voluntary or involuntary transfer or series of transfers of any shares or partnership interests which results in a change of 50 or more of the voting control of such entity from the composition thereof as of the date of this contract. References to the Seller s deed or fulfillment deed...herein shall include assignments of a vendee s interest under a prior real estate contract provided however any form of conveyance shall contain the warranties to which the Purchaser is entitled under this 29. Tax Parcel Number s LPB 45-05 ir Page 1 of 20 Personal Property Title to be Conveyed Form of Deed Title Exceptions include leases Amount Which Has Been Paid to US Balance Due Purchaser to Pay to Seller Holders of Prior Encumbrances TOTAL PURCHASE PRICE B. TERMS OF DEFERRED AMOUNT TO BE...PAID TO SELLER Interest Rate percent per annum Interest Beginning Date Installment Periods First Installment Date Installment Amounts Final Payment Date Default Rate Late Charge Prepayment Provisions Address to Which Installment Amounts are to be Sent C. TERMS OF PRIOR ENCUMBRANCES Prior Encumbrance To be Paid by Current Holder Original Principal Amount Current Principal Balance Payment Dates Amount of Each Payment Secured by Recorded on Recording No* D. MISCELLANEOUS Portion of Purchase Price...Allocated to Is the property to be used principally for agricultural or farming purposes Yes No Miscellaneous Identify any Exhibits attached THE SELLER AND THE PURCHASER HEREBY AGREE TO THE TERMS HEREIN ABOVE SET FORTH AND THE COVENANTS AND CONDITIONS CONTAINED IN THE ATTACHED GENERAL TERMS ALL OF WHICH ARE INCORPORATED BY THIS REFERENCE* IN THE EVENT OF ANY CONFLICT OR INCONSISTENCY BETWEEN THE SPECIFIC TERMS INCLUDING ANY EXHIBITS ATTACHED AND THE GENERAL TERMS THE FORMER SHALL CONTROL* IN...WITNESS WHEREOF the Seller and the Purchaser have executed this agreement as of the date first above stated* SELLER PURCHASER STATE OF ss.
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What is real estate contract template
A real estate contract template is a standardized document used to outline the terms and conditions of a real estate transaction between parties.
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Real Estate Contract Template Form
Learning how to effectively fill out a real estate contract template form is crucial for ensuring smooth transactions. A well-prepared form lays the groundwork for successful real estate deals, saving time and preventing legal issues.
What is a real estate contract?
A real estate contract is a legally binding agreement between two parties, generally the buyer and seller, concerning the transfer of property. Understanding the context and implications of such contracts is critical for both parties involved.
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Using a real estate contract template form ensures that all necessary elements are included, reducing the risk of missing crucial information.
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Common types of real estate contracts include purchase agreements, lease agreements, and option contracts, each serving different purposes depending on the transaction.
What are the key components of a real estate contract?
Key components of a real estate contract provide clarity and protect the interests of both parties. Understanding these elements helps ensure compliance with legal standards.
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Clearly state the names of the seller and purchaser in the contract to avoid ambiguity.
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Provide a thorough legal description and abbreviated details such as the address to identify the property accurately.
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Clearly define the total cost and payment details, including earnest money deposits and financing terms.
How to fill out the real estate contract template?
Filling out the real estate contract template form requires attention to detail and following a systematic approach for accuracy.
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Follow each step of the template while filling out necessary details, ensuring that every section is addressed.
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Include the seller's and purchaser's information accurately, as errors can lead to legal issues.
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Don’t forget to include the legal description of the property and the tax parcel number, as they are essential elements.
What are deferred payments and interests?
Understanding deferred payments is crucial for buyers and sellers alike. Properly managing these terms can prevent future complications.
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Define the terms clearly, including when payments will start and their duration.
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Clearly state any interest rates applicable and how they will be calculated.
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Include clauses that outline actions taken if payments are not made on time, such as late charges.
How to deal with prior encumbrances?
Prior encumbrances can complicate ownership and transfers. Understanding how to handle these is essential.
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Encumbrances such as liens or mortgages can affect property value and ownership rights, making it vital to address them.
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Outline how prior encumbrances will be handled in the contract to avoid disputes after the sale.
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Collect necessary documentation in advance to ascertain any encumbrances disclosed in the contract.
What miscellaneous clauses might be included?
Miscellaneous clauses may address unique property considerations. Understanding these provisions can safeguard interests.
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Define how different portions of the purchase price may apply to various property types.
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Address any unique requirements for agricultural or commercial properties, ensuring compliance with zoning laws.
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Templates often include areas to customize clauses, adapting the contract to specific needs.
Why use pdfFiller for your real estate contract?
Using pdfFiller to manage your real estate contract template form provides numerous advantages. It streamlines the editing and signing process.
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With seamless editing tools, users can personalize their contracts without any hassle.
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pdfFiller allows for easy electronic signing, making the process faster and legally compliant.
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Teams can work together on documents in real time, improving efficiency and reducing back-and-forth.
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Being cloud-based, users can access their documents anytime, ensuring flexibility.
Final steps after completion?
After filling out the real estate contract, knowing where to send it and what follow-up actions to take is crucial.
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Typically, contracts need to be submitted to a local real estate office or attorney for final processing.
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Check your region's laws for recording requirements to ensure legal protections.
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Buyers and sellers should follow up on key dates or conditions specified in the contract to maintain compliance.
How to fill out the pdffiller template
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1.Open the real estate contract template in pdfFiller.
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2.Begin by entering the date of the agreement at the top of the document.
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3.Fill in the names and contact information of all parties involved in the transaction.
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4.Specify the property address, including any relevant descriptions or legal details.
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5.Indicate the purchase price and any deposits or contingencies involved.
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6.Include the closing date and any specific terms such as repairs or contingencies.
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7.Review the entire document for accuracy and completeness.
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8.Once satisfied, save the document and choose the option to print or share electronically.
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