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This Real Estate Purchase Agreement outlines the terms under which 112 West Jeff LLC (Seller) agrees to sell the Wayne Street Garage property to the City of South Bend Redevelopment Commission (Purchaser) for a purchase price of $2,750,000. The document includes details on the property description, purchase price, closing date, due diligence, and representations of both parties.

How to fill out real estate purchase agreement

How to fill out real estate purchase agreement

1. Start with the date of the agreement at the top of the document.
2. Include the names and addresses of both the buyer and seller.
3. Clearly describe the property being purchased including its address and legal description.
4. Specify the purchase price and any deposit amounts.
5. Include terms of financing if applicable, such as mortgage details.
6. Outline any contingencies, like inspection or financing clauses.
7. State the closing date and any conditions for closing.
8. Include details about property taxes, utilities, and other costs.
9. Sign and date the agreement by all involved parties.

Who needs real estate purchase agreement?

1. Individuals purchasing real estate who need a formal agreement.
2. Sellers looking to finalize the sale of their property.
3. Real estate agents facilitating transactions.
4. Investors acquiring properties.

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What is real estate purchase agreement?

A real estate purchase agreement is a legal contract between a buyer and a seller outlining the terms and conditions of a property sale, including price, contingencies, and closing date.

Who is required to file real estate purchase agreement?

Typically, the buyer or the real estate agent representing the buyer is required to file the real estate purchase agreement with the appropriate local or state authorities.

How to fill out real estate purchase agreement?

To fill out a real estate purchase agreement, include the names of the buyer and seller, property description, purchase price, earnest money amount, contingencies, and closing date. Ensure all terms are clear and compliant with local laws.

What is the purpose of real estate purchase agreement?

The purpose of a real estate purchase agreement is to protect both the buyer and seller by clearly outlining the terms of the sale and providing a legal framework for the transaction.

What information must be reported on real estate purchase agreement?

Information that must be reported includes the buyer's and seller's names, property address, purchase price, terms of payment, contingencies, and any other relevant contractual obligations.