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Instructions (RPA-11). This multi-functional document serves as an offer to purchase real property, a completed contract when its signed by the buyer and seller and communication of acceptance is received, a receipt for good faith earnest money deposit, and more.
While the PSA lays out the transactions details leading up to the closing date, the purchase agreement is what you sign to finalize the transaction.
Though notarization is not required, it may still be a good idea to have a notary present in order to verify the identities of all signers.
Who pays for the purchase contract? The fees associated with drawing up this contract are typically included in the sellers agent commission fee which is paid by the seller as part of the closing fees.
Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from PandaDoc, as well as benefiting from real estate contract management software functionality.
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A basic 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.
A purchase agreement is a legal document that is signed by both the buyer and the seller. Once it is signed by both parties, it is a legally binding contract. The seller can only accept the offer by signing the document, not by just providing the goods.

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