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Commonly Asked Questions about Legal Forms for Real Estate Sales

Either the seller or the buyer can prepare a purchase agreement. Like any contract, it can be a standard document that one party uses in the normal course of business or it can be the end result of back-and-forth negotiations.
In the contract, you need to include elements such as: Purchase Price and Closing Details. A simple For Sale By Owner contract has the purchase price, down payment, and closing date. Financing of the Deal. Home Inspection Contingency. Deed for Title Transfer. Default Provisions. Seller Disclosures. Dispute Resolutions.
But the best ones usually have these important elements: Authenticity. The whole idea of sending letters to find potential clients is based on being real. Personal Touch. Writing your letters by hand is a good idea because it shows you care. Proof of Credibility. Clear Benefits. A Call to Action.
At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.
The three types of legal descriptions youre likely to encounter include: Metes and bounds. Rectangular Survey System (also known as Public Land Survey System or government survey method) Plat method or lot and block method.
How to write a real estate purchase agreement. Identify the address of the property being purchased, including all required legal descriptions. Identify the names and addresses of both the buyer and the seller. Detail the price of the property and the terms of the purchase. Set the closing date and closing costs.
More In Forms and Instructions Use Form 1099-S to report the sale or exchange of real estate.