Get the free Residential Contract of Sale - All New York Title Agency

Reorder Form No. 8068 (3/00) Residential contract of sale 291 Jointly prepared by the Real Property Section of the New York State Bar Association, the New York State Land Title Association, the Committee

How to fill out residential contract of sale

How to fill out a residential contract of sale:

1. Begin by entering the date at the top of the contract, indicating when it is being filled out.
2. Write down the full legal names and contact information of both the buyer and the seller.
3. Specify the address and legal description of the property being sold. This should include details such as lot number, building number, and any other identifying information.
4. Outline the terms of the sale, including the purchase price, any financing arrangements, and any contingencies or conditions that must be met.
5. Include a section for any additional terms or special agreements that both parties have agreed upon. This may include specific repair or maintenance responsibilities, allowances for closing costs, or any other negotiated terms.
6. Indicate the agreed-upon closing date, at which point the ownership of the property will be transferred from the seller to the buyer.
7. Include a section for both parties to sign and date the contract, acknowledging their agreement to the terms outlined.
8. It is important to have the contract reviewed by a real estate attorney before signing, especially for complex transactions or if there are any concerns.

Who needs a residential contract of sale?

1. Buyers: Individuals or entities looking to purchase a residential property need a residential contract of sale to document the terms of the purchase and protect their interests.
2. Sellers: Individuals or entities selling a residential property also need a residential contract of sale to outline the terms of the sale, ensure their rights are protected, and provide a legally binding agreement.
3. Real Estate Agents: Real estate agents often facilitate the sale of residential properties and may use a residential contract of sale to ensure all parties are in agreement and to protect their clients' interests.
4. Banks or Lenders: If a buyer is obtaining financing from a bank or lender, they may require a residential contract of sale to document the terms of the purchase and ensure the property serves as collateral for the loan.

For pdfFiller’s FAQs

What is residential contract of sale?

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

Who is required to file residential contract of sale?

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

How to fill out residential contract of sale?

To fill out a residential contract of sale, both parties must provide information about the property, sale price, and any contingencies or conditions of the sale.

What is the purpose of residential contract of sale?

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

What information must be reported on residential contract of sale?

Information such as the property address, sale price, earnest money deposit, closing date, and any contingencies or conditions must be reported on the residential contract of sale.

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