A residential purchase and sale agreement is a contract between a buyer that offers to purchase a property from a seller for an agreed price. Type of Property Type of Property Single-Family HomeCondominiumPlanned Unit Development (PUD)Duplex (2-unit)Triplex (3-unit)Fourplex (4-unit)Other The type of Property being purchased can be described as: Does the Property include Land? Does the Property include Land? YesNo Most purchase agreements include land, although, a Property such as a condominium or apartment would not. Property Address Property's Street Address Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code Also known as the Mailing Address Legal Description Do you know the Legal Description of the Property? Do you know the Legal Description of the Property? YesNo A Legal Description is considered the Tax Map/Lot Number, Parcel Identification Number, Deed Book and Page Numbers, etc. Enter the Legal Description Personal Property Will the Buyer be obtaining any of the Seller's Personal Property? Will the Buyer be obtaining any of the Seller's Personal Property? YesNo Personal Property is anything that is "removable" such as a washer, dryer, furniture, refrigerator, microwave, etc. List ALL Personal Property: Fixtures Will the Seller be keeping any of the Fixtures on the Property? Will the Seller be keeping any of the Fixtures on the Property? YesNo A fixture is something that is "screwed in" or "made part" of the property. For example, dishwashers, toilets, and sinks would be considered fixtures. Enter the Fixtures: Other Information Is there any other information you would like to add about the Property? Is there any other information you would like to add about the Property? YesNo Such as land area (acreage), easements, deed restrictions, etc. Write The Buyer Who is the Buyer? Who is the Buyer? Individual(s)a Business Entity How many Individuals? Choose12345678910 Buyer (Business Entity Name) Business Entity's Name A business entity is known as a Company (L.L.C.), Corporation, Partnership (including limited), Trust, or any other type of association recognized by the State. Who is Signing on behalf of the Business Entity? First Last What is their role in the Business Entity? What is their role in the Business Entity? PresidentCEOMemberOfficerOther Write Buyer (Individual) Individual's Name First Last 2nd Individual's Name First Last 3rd Individual's Name First Last 4th Individual's Name First Last 5th Individual's Name First Last 6th Individual's Name First Last 7th Individual's Name First Last 8th Individual's Name First Last 9th Individual's Name First Last 10th Individual's Name First Last Buyer's Mailing Address Buyer's Mailing Address Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code The Seller Do you know the Seller's Name(s) and Mailing Address? Do you know the Seller's Name(s) and Mailing Address? YesNo Who is the Seller? Who is the Seller? a Business EntityIndividual(s) How many Individuals? Choose12345678910 Seller (Business Entity) Business Entity Name Who is Signing on behalf of the Business Entity? First Last What is their role in the Business Entity? What is their role in the Business Entity? PresidentCEOOfficerMemberOther Write Seller (Individual) Individual's Name First Last 2nd Individual's Name First Last 3rd Individual's Name First Last 4th Individual's Name First Last 5th Individual's Name First Last 6th Individual's Name First Last 7th Individual's Name First Last 8th Individual's Name First Last 9th Individual's Name First Last 10th Individual's Name First Last Seller's Mailing Address Is the Seller's Mailing Address the SAME as the Property Address? Is the Seller's Mailing Address the SAME as the Property Address? YesNo Seller's Mailing Address Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code Purchase Price Purchase Price $(US Dollars) Earnest Money Deposit Will there be an Earnest Money Deposit? Will there be an Earnest Money Deposit? YesNo This is provided in the event the Buyer does not perform on this Agreement, the Seller will be entitled to these funds unless this Agreement is contingent upon something else such as financing, selling another home, etc. Enter the Amount ($) $ The Buyer will have to pay the Earnest Money by Time AMPM Trust / Escrow Account Will the Earnest Money be placed in a Trust or Escrow Account? Will the Earnest Money be placed in a Trust or Escrow Account? YesNoI don't know If there is a real estate agent involved in the transaction, depending on State law, it may be required for the deposit to be placed in a Trust or Escrow Account. This will ensure the funds will not be mismanaged or commingled by the Seller or their Agent. Buyer Financing Will this Agreement be contingent upon the Buyer receiving financing? Will this Agreement be contingent upon the Buyer receiving financing? YesNo Select 'Yes' if the Buyer will need a loan or mortgage in order to purchase the Property. What type of Financing will the Buyer be needing? What type of Financing will the Buyer be needing? Conventional (Mortgage) LoanFHA Loan (attach the FHA/VA Addendum)VA Loan (attach the FHA/VA Addendum)Seller FinancingOther Buyer agrees to get financing through: Cash Offer The Buyer is proposing a Cash Offer. The Seller will need to be given evidence of the available funds by a specific date. Buyer must provide PROOF to the Seller they can purchase the Property by Time AMPM Standard Financing Does the Buyer need to prove they can obtain financing BEFORE the Closing? Does the Buyer need to prove they can obtain financing BEFORE the Closing? YesNo This is recommended. The Buyer will usually be required to show a Pre-Qualification Letter to the Seller within 15 days of this Agreement being signed. When will the Buyer be required to prove they can obtain financing? Seller Financing Also known as "Owner Financing." This is where the Seller of the Property acts as the bank and loans the Buyer the money to purchase the Property. Payments are made to the Seller in the same structure as a conventional mortgage with payments made every month. Down Payment $(commonly 20% of the Purchase Price) Loan Amount $(commonly 80% of the Purchase Price) Interest Rate (%) per Annum % Term (Length of Loan) MonthsYears Seller's Approval Has the Buyer already been approved by the Seller for Financing? Has the Buyer already been approved by the Seller for Financing? YesNo If not, the Buyer will be required to provide documentation to the Seller in the form of tax returns, proof of income, investments, etc. Afterward, the Seller will be required to approve the Buyer by a specific date. Seller must approve the Buyer by Time AMPM Deed Type What type of Deed is valid to transfer the Property? What type of Deed is valid to transfer the Property? Warranty Deed (recommended)Special Warranty DeedQuit Claim DeedGrant DeedOther Type of Deed Sale of Another Property Is this Agreement contingent on the Buyer selling their Property first? Is this Agreement contingent on the Buyer selling their Property first? YesNo In some cases, the Buyer may only be able to purchase the Property if they can sell another property by a specific date. This will provide added risk to the Buyer's availability to purchase the Property. Usually, Sellers in this position will demand a higher purchase price, especially, if there are other offers presented to the Seller. What is the Buyer's Property Address? Street Address Address Line 2 City Please SelectAlabamaAlaskaArizonaArkansasCaliforniaColoradoConnecticutDelawareFloridaGeorgiaHawaiiIdahoIllinoisIndianaIowaKansasKentuckyLouisianaMaineMarylandMassachusettsMichiganMinnesotaMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew MexicoNew YorkNorth CarolinaNorth DakotaOhioOklahomaOregonPennsylvaniaRhode IslandSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWashington DCWest VirginiaWisconsinWyoming State ZIP Code Date Required to be Sold Select when the potential Buyer is required to sell their Other Property before this Agreement terminates. When is the Buyer's Property required to sell by? If the Buyer's Property does not sell, the Earnest Money shall be returned to If the Buyer's Property does not sell, the Earnest Money shall be returned to the Buyerthe Seller Closing Costs Who will be responsible for the Closing Costs? Who will be responsible for the Closing Costs? Both Parties (shared equally)BuyerSeller Closing Costs may include loan origination fees, discount points, appraisal fees, title searches, title insurance, surveys, taxes, deed-recording fees and credit report charges. The Closing The Closing is when the Buyer transfers the money to the Seller and the Seller transfers the Property to the Buyer. Otherwise known as the "Transaction Date". When is the LAST DAY the Closing must occur? Time AMPM Mineral Rights Will the Seller be keeping any Mineral Rights to the Property? Will the Seller be keeping any Mineral Rights to the Property? YesNo These are rights under the soil such as water, gas, oil, or any type of mineral rights. What type of Mineral Rights will the Seller be retaining? What type of Mineral Rights will the Seller be retaining? All RightsSpecific Rights Seller will be retaining the following mineral rights: Survey Problems Survey problems must be presented to the Seller on or before How long will the Seller have to remediate any Survey Problems? Days Title Search Report How many days will the Buyer have to review the Title Search Report? Days In all Property transactions, an official lookup of the title will need to be completed known as the Title Search Report. After it's completed, the Buyer is usually given a time-frame to review it such as five (5) days. Title Defects If defects are found in the Title, how many Days will the Seller have to correct it? Days Inspections When does the Buyer's INSPECTION PERIOD end? If no inspection period, enter today's date. Defects When is the Last Day the Buyer can report DEFECTS on the Property? If Defects are found, how long will the Buyer and Seller have to re-negotiate? Days For example, if a leak is found in the roof, the Buyer and Seller will have the above time-frame to re-negotiate the terms. If the Buyer and Seller cannot come to an Agreement, the contract becomes void and the Earnest Money is returned to the Buyer. Appraisal Is this Agreement contingent on the Property appraising to equal or more value than the Purchase Price? Is this Agreement contingent on the Property appraising to equal or more value than the Purchase Price? YesNo In cases where the Buyer is needing financing from a bank to purchase the Property, a common condition is that the Property will need to "appraise" for equal or more than the value of the Purchase Price. If the Property does not appraise, how long will the re-negotiation period be? Days If the Property does not appraise to the value of the purchase price, this Agreement will need to be re-negotiated or the Earnest Money must be returned to the Buyer. Offer Expiration Date This is just an Offer until it is signed by the Buyer and Seller. When must BOTH the Buyer and Seller sign this Agreement? Time AMPM Lead-Based Paint Disclosure Required under federal law that any property built prior to 1978 needs to have the lead-based paint disclosure form attached to this Agreement. Was the Property built before 1978? Was the Property built before 1978? YesNoI don't know The brochure "Protect Your Family from Lead in Your Home" must be given to the Buyer The brochure "Protect Your Family from Lead in Your Home" must be given to the Buyer I Agree Download - Protect Your Family from Lead in Your Home Attachments Are there any other Disclosures or Addendums to be attached to this Agreement? Are there any other Disclosures or Addendums to be attached to this Agreement? YesNo Check 'Yes' if there are ANY attachments that will be added to this Agreement. Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Add another? Add another? YesNo Name of Attachment Additional Terms & Conditions Are there any other Terms or Conditions? Are there any other Terms or Conditions? YesNo This is your last chance to enter anything in this Agreement that has not been already mentioned. Write Real Estate Agents Also known as Realtors®, Brokers, and Transaction Agents. Were any Real Estate Agents used in this transaction? Were any Real Estate Agents used in this transaction? YesYes, but don't want to name in this AgreementNo How many? How many? 12 Agent Name(s) Real Estate Agent's Name First Last Real Estate Company Enter the name of the real estate company the agent is from. Real Estate Agent's Name First Last Real Estate Company Effective Date Effective Date of this Agreement Next Save Save and finish later
