All States - Contract For Purchase & Sale of Residential Real Estate Package

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CONTRACT FOR PURCHASE & SALE OF

RESIDENTIAL REAL ESTATE PACKAGE

$39.95

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The purchase or sale of real property is a transaction that must be approached and handled with great care and thought.  Included in the package listed below are all of the necessary documents for you either purchase or sell any real property any where in the United States.  You should select the package that fits your need.  After your selection please review the documents carefully and follow the instructions as necessary.  You must adapt the documents to your personal situation.  Take your time and review the contracts after completion.  The documents and packages available are as follows:

1.    Residential Kit - Purchase  

a.      Select this kit for all documents necessary to either sell your property or to make an offer to purchase the property of another. 

b.     The following Documents are included in this kit:

                                                    i.     CONTRACT FOR SALE & PURCHASE OF REAL PROPERTY

                                                  ii.     SIMPLE CONTRACT FOR SALE & PURCHASE OF REAL PROPERTY

                                                 iii.     ADDENDUM TO CONTRACT FOR SALE & PURCHASE OF REAL PROPERTY

                                                 iv.     ASSIGNMENT OF CONTRACT FOR SALE & PURCHASE OF REAL PROPERTY

                                                  v.     COUNTEROFFER TO CONTRACT FOR SALE & PURCHASE OF REAL PROPERTY

                                                 vi.     CANCELLATION OF CONTRACT FOR SALE & PURCHASE OF REAL PROPERTY AND RELEASE OF DEPOSIT-

 For the Contract for Purchase & Sale of Real Property—Residential you will need to add the following information;

                                                    i.     Name and Address of Buyer

                                                  ii.     Name and Address of Seller

                                                iii.     Legal Description

                                                iv.     Description of any personal property included in transaction

                                                  v.     Purchase Price

                                                vi.     Deposit Amount and name and address of person or entity holding deposit

d.     Tips for successful transaction:  You should pay close attention to the following items in the contract.  You can gain an advantage, save yourself money and, additionally, control the events to your satisfaction.

                                                    i.     Closing date—If you are selling a quick closing date is preferable.  If you are a buyer a longer time to close could be important because you have to find financing and may have to sell your own property prior to the purchase.  If this is the case you will want to make any purchase contingent upon the happening of whatever event is important to you—such as the sale of your home, a promotion, a raise , the landing of a new job.

                                                  ii.     Assignability—Buyers often want to assign a contract to another party.  There may be a number of reasons for this.  A buyer may buy a property for less than full value and then contract so as to sell the property at a higher price.  The buyer can then assign the first contract to the second buyer and obtain a fee for that assignment.  Additionally a buyer may contract in his own name but then desire to take title in the name of his company or entity, or to add another party to the contract.  An Assignment allows the buyer flexibility to handle the transaction in his favor.  Sellers do not generally like to allow assignments because then the seller is dealing with someone that he does not know or someone with whom he has not contracted.

                                                iii.     Evidence of Title—A buyer should pay close attention to this area.  Evidence of title must be presented either in the form of a prior title policy or a title commitment within enough time for buyer to deal with those issues.  If there are title issues with which the buyer is uncomfortable he must make those issues known to the Seller within the specified time frames.

                                                iv.     Expenses—Obviously the expenses of the transaction are important to both the buyer and seller.  Whenever we are buyers we want most expenses to be paid by the Seller.  When we are sellers the opposite is true.  Title insurance is a large expense and should be handled carefully.  Additional expense includes title examination, document preparation, and state stamps for the recording of the deed.

                                                  v.     Inspections—As a buyer you must allow sufficient time to make necessary inspections.  If you do not then you may be taking a property that has defects.  If you are a seller you do not want to allow the buyer too much time to make the inspections as he will have your property tied up for that period of time.

THANK YOU