A Real Estate Sales Contract is a legally binding agreement between a buyer and seller of real estate. It outlines the terms and conditions of the sale, such as the purchase price, closing date, contingencies, and any other agreed-upon provisions. It is a legally enforceable document that is often used to transfer the title of the real estate from the seller to the buyer. Types of Real Estate Sales Contract include: * Purchase Agreement: A contract between the buyer and seller that outlines the terms of the purchase, such as the purchase price, closing date, and contingencies. * Land Contract: A contract between the buyer and seller that outlines the terms of the purchase, such as the purchase price, closing date, and contingencies, but does not transfer the title of the property until the buyer has fully paid the purchase price. * Lease-Purchase Agreement: A contract between the buyer and seller that outlines the terms of the purchase, such as the purchase price, closing date, and contingencies, but does not transfer the title of the property until the buyer has fully paid the purchase price. It also allows the buyer to lease the property for a specified period of time before purchasing it. * Option to Purchase: A contract between the buyer and seller that grants the buyer the option to purchase the property at a predetermined price within a set time frame. The buyer is not obligated to purchase the property, but is required to pay an option fee to the seller.
Real Estate Sales Contract
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