Standard Parts of Purchase and Sales agreement

Standard Parts of Purchase and Sales agreement

1. The complete and proper names of the buyer and seller. Identify whether they are individuals, corporations, LLC partnerships, etc.
2. A proper and complete description of the property.
3. The purchase price.
4. The financial terms of the purchase whether it be by cash, contract, trust deed or mortgage assumption, or exchange.
5. The amount and form of the earnest money receipted
6. The conditions to purchase and contingencies.
7.Title review and title insurance
8. The closing date and time of delivery.
9 The condition the property is to be in when delivered at closing.
10. Specify the personal property that is to be transferred with the real property at closing
11. How much time the seller has to accept the buyer's offer.
12.Agreement regarding the real estate fee and its division with cooperative brokers
13. Representations and warranties from the seller regarding the condition of the property, or provision that the sale is "as is."
14. Whether the buyer has the right to assign the buyer's interest under the agreement to a third party or not.

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