Residential Purchase and Sale Form

What type of property is being sold?

The property being purchased can be described as:

Do you want to enter the buyer's information?

YesNo, I will do this later.

How many buyers?

Buyer's name:

2nd buyer's name:

3rd buyer's name:

4th buyer's name:

5th buyer's name:

6th buyer's name:

7th buyer's name:

8th buyer's name:

Do you want to enter the buyer's address?

YesNo, I will enter it later.

Buyer's address

Street Address

Address Line 2

City

State

ZIP Code

Do you want to enter the seller's information?

YesNo, I will do this later.

How many sellers?

Seller's name:

2nd seller's name:

3rd seller's name:

4th seller's name:

5th seller's name:

6th seller's name:

7th seller's name:

8th seller's name:

Is the seller's mailing address the SAME as the property address?

YesNo

Seller's mailing address

Street Address

Address Line 2

City

State

ZIP Code

Does the property include land?

YesNo

Most agreements include land, although a condominium or apartment would not.

What is the property address?

Street Address

Address Line 2

City

State

ZIP Code

Do you know the legal description of the property?

YesNo

A full legal description is typically found on the property deed or property tax forms. This can be written in later.

Enter the legal description

Will the seller be leaving any personal property?

YesNo

Personal property is a removable item like a washer, dryer, furniture, refrigerator, etc.

List ALL personal property:

Will the seller be taking any fixtures from the property?

YesNo

A fixture is something that is "screwed in" like dishwashers, toilets, and sinks.

Enter the fixtures that will be removed:

Is there any other information you would like to add about the property?

YesNo

Such as land area (acreage), easements, deed restrictions, etc.

Write

Purchase price

$(US Dollars)

Will there be an earnest money deposit?

YesNo

This protects the seller if the buyer doesn't fulfill the agreement. The seller can keep the earnest money unless the contract is contingent on something like financing or selling another home.

Enter the Amount ($)

$

The Buyer will have to pay the earnest money by

, 5:00 PM

Will the earnest money be placed in a trust or escrow account?

YesNoI don't know

If a real estate agent is involved, state law may require the deposit to be placed in a trust or escrow account to protect it from potential mismanagement.

What type of deed is valid to transfer the property?

Type of deed

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 ability to purchase the property.

What is the buyer's property address?

Street Address

Address Line 2

City

State

ZIP Code

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

the buyerthe seller

Who will be responsible for 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.

When is the LAST DAY the closing must occur?

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?

All rightsSpecific rights

Seller will be retaining the following mineral rights:

Survey problems must be presented to the seller on or before

How long will the seller have to remediate any survey problems?

Days

Survey problems are issues that can affect the boundaries, usage and ownership of property. It's common to give 2 weeks after signing to discover and present survey issues.

How many days will the buyer have to review the title search report?

Days

If defects are found in the title, how many days will the seller have to correct?

Days

In all property transactions, an official lookup of the title will need to be completed known as the Title Search Report. After completion, the buyer is usually given a timeframe to review it such as 5 days.

When does the Buyer's INSPECTION PERIOD end?

If no inspection period, enter today's date.

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 damage is found, the parties will have the above timeframe to re-negotiate. If the parties cannot come to an agreement, the contract voids and the earnest money is returned.

Is this agreement contingent on the property appraising to equal or more value than the purchase price?

YesNo

When the buyer needs 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.

This is just an Offer until it is signed by the buyer and seller.

When must BOTH the buyer and seller sign this agreement by?

Were any real estate agents used in this transaction?

YesYes, but don't want to name in this AgreementNo

Also known as brokers and realtors

How many?

12

Agent's name

Real estate company

Enter the name of the real estate company the agent is from.

2nd Agent's name

Real estate company

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

I Agree

Download - Protect Your Family from Lead in Your Home

In what state is the property located?