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Owners sale agreement and earnest money receipt

Owners sale agreement and earnest money receipt 2025

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The document is a comprehensive Owner's Sale Agreement and Earnest Money Receipt for real estate transactions in Washington State, specifically designed for new construction. It outlines the terms of the purchase offer, including earnest money deposits, contingencies related to financing and property inspections, seller disclosures regarding property conditions, and legal obligations concerning lead-based paint hazards. The document emphasizes the importance of thorough inspections and provides guidelines for both buyers and sellers to ensure compliance with state regulations.

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Click ‘Get Form’ to open the owners sale agreement and earnest money receipt in the editor.
Begin by filling in the Purchaser’s Offer section. Enter the address of the property and attach a legal description as Exhibit A.
In the Purchase Price section, specify the total amount in dollars, including details about earnest money deposits and additional payments.
Complete any applicable contingencies, such as loan contingencies or conditions based on selling a current home. Indicate if you agree to provide a preapproval letter.
Fill out sections regarding property inclusions/exclusions, leased fixtures, and any seller financing terms if applicable.
Review all entries for accuracy before saving your document. Utilize our platform's features to sign electronically or share with involved parties for their signatures.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do you get your earnest money back if you cancel a contract?

In this scenario, the buyer can ask the seller to either cover repairs or reduce their sales price. If the buyer and seller cant docHub an agreement, the buyer can cancel the contract, penalty-free, and request a full refund of their earnest money deposit.

Who is responsible for earnest money?

When a buyer and seller enter into an initial agreement to transfer ownership of property, the buyer is often required to deposit earnest money into an escrow account. The buyer and seller will agree on the circumstances where the buyer can back out without losing their earnest money.

Is earnest money part of a sales contract?

A Down Payment. First-time home buyers are often unfamiliar with the difference between earnest money and a down payment. An earnest deposit is paid when you sign the sales contract, at the start of the real estate transaction. By contrast, a down payment is used to help you secure a home loan.

Can I write my own purchase and sale agreement?

Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from docHub, as well as benefiting from real estate contract management software functionality.

What is the Acknowledgement of earnest money?

The Acknowledgement Receipt For Earnest Money is a critical document in Philippine property transactions, used when a prospective buyer provides a deposit to demonstrate serious intent to purchase a property.

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What is earnest money in a contract?

Earnest money refers to the deposit paid by a buyer to a seller, reflecting the good faith of a buyer in purchasing a home. The money buys more time to the buyer before closing the deal to arrange for funding and perform the hunt for names, property valuation, and inspections.

Is earnest money part of the sale price?

Earnest money is typically around 1% to 3% of the sale price and is held in an escrow account until the deal is complete. The exact amount depends on whats customary in your market. For example, if your area has very low housing inventory, larger amounts of earnest money may be more common than smaller amounts.

Do you get a receipt for earnest money?

However, the earnest money check is different than the downpayment. It is typically cashed and held in a title company trust account, or in the brokers escrow company account. You get a receipt from your brokerage when you hand in the earnest money.