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Hi I'm Sean Reynolds the owner and designated managing broker of Summit properties Northwest this is a quick tutorial video on form 21 the residential real estate purchase and sale agreement specific terms before I get into kind of the guts of this form I'm going to read a couple of common notes associated with this form but first let me take you to the MLS forms manual and so the Northwest Multiple Listing Service has a forms manual in for every single one of the important forms and so you go to the forms manual go down to form 21 residential and open that up, and you'll have all kinds of general comments and guidelines for each form so if is I've missed something in this video you can go ahead and check it out here and get some more information all right let's go back to the form, and you're only using form 21 if it's a single-family residential home if it's only a home if it is a condo use form 28 if it's vacant land use form 25 if it's a multi-family either a duplex triplex or four-plex use form 20 or manufactured home on leased land use form 23 fill in everything in this form the only two required blanks or the only two blanks that aren't required to be filled in are the MLS number and then also the tax parcel number everything else needs to be filled in if there isn't if the blank isn't applicable to this purchase and sale agreement either write in Na or cross it out altogether just make it really clear that hey this isn't applicable the most common mistakes for this agreement being invalid or failure to check a box in complete legal description got to use a legal description not tax parcel and not an abbreviated legal description it's got to be a full legal description and then the third is lack of all signatures and an incomplete payment and then failure to attach a note indeed a trust if there is seller financing those are the five most common reasons this form is not valid so just make sure you don't violate those and for the most part you're going to be pretty good okay, so that is it on the general terms let's jump into the form alright the date is the date that you originally write this up and have the borrower's basically it can be sent to over a different date, but this is just the date that it's written up it's not mutual acceptance that's when both sides agree to the part to these to this purchase and sale it's just basically a date you write it up the MLS number or take that off of the MLS listing offer expiration date typically put it the date that you're writing it up for 9 pm that's when it expires typically but if you want to put it you know day or two out depending on the circumstances go ahead and write the idea let's scroll down a little put in the buyers names and then status you've got to scroll down and pick the one that is applicable as far as the status of the buyers you got the sellers names you've got the legal description taxes exhibit a tax parcel numbers, and it gives you room for three different tax parcel...
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