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Oklahoma
Residential Sales Contract
Information Pamphlet Oklahoma Real Estate Commission
1915 N. Stiles Ave., Suite 200
Oklahoma City, Oklahoma 73105
November 2011FOREWORD
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How to fill out residential sales contract
How to fill out a residential sales contract:
01
Begin by obtaining a residential sales contract form from a reliable source, such as a real estate agent, attorney, or online platform.
02
Carefully read through the contract form to familiarize yourself with its contents and understand the terms and conditions outlined.
03
Ensure that all necessary parties involved in the sale, such as the buyer and seller, are identified accurately in the contract.
04
Provide detailed information about the property being sold, including its address, legal description, and any additional features or amenities.
05
Specify the purchase price agreed upon between the buyer and seller, ensuring it is clearly stated and correctly represented.
06
Include any contingencies or conditions that need to be met before the sale can be finalized, such as inspections, financing arrangements, or repairs.
07
Outline the timeline for the completion of various steps in the sales process, including the closing date.
08
Clearly define the responsibilities and obligations of both the buyer and seller, including any disclosures or representations about the property.
09
Review all the details included in the contract for accuracy and completeness, making any necessary revisions or additions before signing.
10
Sign the residential sales contract along with the other involved parties, and ensure that all signatures are witnessed or notarized, if required.
Who needs a residential sales contract:
01
Individuals or entities involved in the buying or selling of residential property, such as houses, apartments, or condominiums, typically need a residential sales contract.
02
Buyers and sellers rely on a residential sales contract to establish the terms and conditions of the sale, protecting their interests and ensuring a legally binding agreement.
03
Real estate agents, attorneys, and other professionals involved in the real estate industry also use residential sales contracts to facilitate and document property transactions.
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What is residential sales contract?
A residential sales contract is a legally binding agreement between the buyer and seller of a residential property that outlines the terms and conditions of the sale.
Who is required to file residential sales contract?
The responsibility of filing the residential sales contract typically falls on the seller of the property.
How to fill out residential sales contract?
To fill out a residential sales contract, both the buyer and seller must provide accurate and complete information regarding the property, purchase price, and any other agreed-upon terms.
What is the purpose of residential sales contract?
The purpose of a residential sales contract is to establish the rights and obligations of both the buyer and seller, ensuring a fair and smooth transaction.
What information must be reported on residential sales contract?
The residential sales contract must include details such as the property address, purchase price, payment terms, closing date, and any contingencies or conditions of the sale.
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