The Guam Contract for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land is a legal document that outlines the terms and conditions involved in buying or selling residential property in Guam without the need for a real estate broker. This contract is specifically designed for transactions related to residential lots or land. The purpose of this contract is to protect the rights and interests of both the buyer and the seller by providing a clear and comprehensive agreement that outlines their obligations and rights during the transaction. The Guam Contract for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land includes several key sections, such as: 1. Parties: This section identifies the buyer and the seller involved in the transaction. It includes their full legal names, addresses, and contact details. 2. Property Description: This section provides a detailed description of the residential lot or land being sold. It includes the address, size, boundaries, and any other relevant details about the property. 3. Purchase Price and Terms: Here, the agreed-upon purchase price of the property is stated, along with the payment terms. This section may also specify any earnest money or down payment requirements, as well as the terms of financing, if applicable. 4. Contingencies: This section outlines any conditions that need to be met before the sale can proceed. This may include, but is not limited to, obtaining financing or appraisal, conducting inspections, or obtaining necessary permits or approvals. 5. Closing and Settlement: This section explains the procedures and timeframe for the closing of the transaction. It may include details such as who will be responsible for closing costs, the date and location of the closing, and any required documentation. 6. Disclosures: This section requires the seller to disclose any known defects or issues with the property. It may also include information about any liens, easements, or encumbrances that may affect the title. There may not be different types of the Guam Contract for the Sale and Purchase of Real Estate NowNo Broke— - Residential Lot or Land. However, variations of this contract may exist depending on the specific circumstances of the transaction or any additional terms negotiated between the buyer and seller. It is essential to review and understand the contract thoroughly before signing it. Consulting with a real estate attorney or professional is highly recommended ensuring compliance with Guam real estate laws and to protect both parties' interests in the transaction.
Guam Contract for the Sale and Purchase of Real Estate - No Broker - Residential Lot or Land
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