Lowell Massachusetts Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement

• Category: Massachusetts Real Estate - Home Sale
• State: Massachusetts
• City: Lowell
• Control #: MA-00472
• Format: Word; Rich Text

Description

This form is a Contract for the sale of real estate for use in Massachusetts. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved. The Lowell Massachusetts Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legal document used in Lowell, Massachusetts, for buying or selling residential properties without the involvement of a real estate broker. This agreement outlines the terms and conditions agreed upon by the buyer and seller, ensuring a smooth and transparent transaction. Here are some key points to consider regarding this contract: 1. Purpose: The Lowell Massachusetts Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement serves to legally bind the buyer and seller in a residential property transaction. It outlines the obligations, rights, and responsibilities of both parties involved. 2. Parties Involved: The agreement clearly identifies the buyer and seller, providing their legal names, addresses, and contact information. 3. Property Description: The contract includes a detailed description of the residential property being sold, such as its physical address, lot size, number of bedrooms and bathrooms, and any other relevant features. 4. Purchase Price: The agreed-upon purchase price of the property is clearly stated in the contract. It may also detail how the buyer intends to pay, such as through financing, cash, or a combination of both. 5. Earnest Money Deposit: This agreement often includes provisions for an earnest money deposit, which is an amount of money provided by the buyer to demonstrate their commitment to the purchase. The deposit is held in escrow until closing and is typically credited towards the purchase price. 6. Financing Contingencies: If the buyer plans to secure a mortgage or obtain financing, the contract may include provisions for financing contingencies. This allows the buyer to back out of the agreement if they are unable to obtain suitable financing within a specified timeframe. 7. Property Inspections: The contract may specify the buyer's right to conduct property inspections, such as a general home inspection, termite inspection, or radon testing. It often outlines timelines for completing inspections and allows the buyer to negotiate repairs or credits based on the inspection results. 8. Closing Details: The agreement includes provisions detailing the closing process, including the anticipated closing date, location, and any required documents or fees. It may also outline the distribution of closing costs between the buyer and seller. Different types of Lowell Massachusetts Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreements may exist depending on specific circumstances. These variations may include contract addenda, contingencies, or additional terms tailored to unique situations. It is crucial to consult a real estate attorney or legal professional to ensure compliance with local regulations and to address any specific requirements or modifications needed for a particular transaction.

The Lowell Massachusetts Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legal document used in Lowell, Massachusetts, for buying or selling residential properties without the involvement of a real estate broker. This agreement outlines the terms and conditions agreed upon by the buyer and seller, ensuring a smooth and transparent transaction. Here are some key points to consider regarding this contract: 1. Purpose: The Lowell Massachusetts Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement serves to legally bind the buyer and seller in a residential property transaction. It outlines the obligations, rights, and responsibilities of both parties involved. 2. Parties Involved: The agreement clearly identifies the buyer and seller, providing their legal names, addresses, and contact information. 3. Property Description: The contract includes a detailed description of the residential property being sold, such as its physical address, lot size, number of bedrooms and bathrooms, and any other relevant features. 4. Purchase Price: The agreed-upon purchase price of the property is clearly stated in the contract. It may also detail how the buyer intends to pay, such as through financing, cash, or a combination of both. 5. Earnest Money Deposit: This agreement often includes provisions for an earnest money deposit, which is an amount of money provided by the buyer to demonstrate their commitment to the purchase. The deposit is held in escrow until closing and is typically credited towards the purchase price. 6. Financing Contingencies: If the buyer plans to secure a mortgage or obtain financing, the contract may include provisions for financing contingencies. This allows the buyer to back out of the agreement if they are unable to obtain suitable financing within a specified timeframe. 7. Property Inspections: The contract may specify the buyer's right to conduct property inspections, such as a general home inspection, termite inspection, or radon testing. It often outlines timelines for completing inspections and allows the buyer to negotiate repairs or credits based on the inspection results. 8. Closing Details: The agreement includes provisions detailing the closing process, including the anticipated closing date, location, and any required documents or fees. It may also outline the distribution of closing costs between the buyer and seller. Different types of Lowell Massachusetts Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreements may exist depending on specific circumstances. These variations may include contract addenda, contingencies, or additional terms tailored to unique situations. It is crucial to consult a real estate attorney or legal professional to ensure compliance with local regulations and to address any specific requirements or modifications needed for a particular transaction.