This form is a Contract for the sale of real estate for use in Michigan. 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 Sterling Heights Michigan Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legally binding document that outlines the terms and conditions of a real estate transaction in Sterling Heights, Michigan, where no broker is involved in the sale of a residential property. This contract is essential for protecting the interests of both the buyer and the seller. The agreement starts with the identification of the parties involved, including their names, addresses, and contact information. It then proceeds to describe the property being sold, including its legal description, address, and any additional features or conditions that may be relevant. The contract also outlines the purchase price and payment terms, specifying whether it will be a lump sum or will involve installment payments. It further includes details on any earnest money deposit that the buyer needs to provide and the consequences of default on payment. In addition, the agreement covers the responsibilities and obligations of both parties during the transaction. This includes the buyer's right to conduct inspections and the seller's duty to disclose any known defects or issues with the property. It also outlines the process for resolving any disputes, such as through mediation or arbitration. There may be variations or additional types of Sterling Heights Michigan contracts for sale and purchase of real estate with no broker for residential home sale agreement, depending on specific circumstances. Some of these variations may include: 1. Contract for Sale and Purchase of Real Estate with No Broker for a New Construction Home: This type of agreement caters specifically to new construction homes in Sterling Heights, Michigan. It may include additional clauses related to construction timelines, warranties, and allowances for changes or upgrades. 2. Contract for Sale and Purchase of Real Estate with No Broker for a Foreclosed Property: In case the residential property being sold is a foreclosed property, this type of agreement may include provisions related to the buyer's understanding of the property's condition and any liabilities or encumbrances associated with the foreclosure process. 3. Contract for Sale and Purchase of Real Estate with No Broker for a Condominium: If the property being sold is a condominium unit, this agreement may encompass specific clauses addressing condominium association fees, rules, and regulations, as well as responsibilities related to shared amenities and common areas. It is important to note that these variations will depend on the specific circumstances and requirements of each real estate transaction in Sterling Heights, Michigan. Therefore, it is advisable to consult with a real estate attorney or professional to ensure the agreement accurately reflects the intentions and protects the interests of both the buyer and the seller.The Sterling Heights Michigan Contracts for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement is a legally binding document that outlines the terms and conditions of a real estate transaction in Sterling Heights, Michigan, where no broker is involved in the sale of a residential property. This contract is essential for protecting the interests of both the buyer and the seller. The agreement starts with the identification of the parties involved, including their names, addresses, and contact information. It then proceeds to describe the property being sold, including its legal description, address, and any additional features or conditions that may be relevant. The contract also outlines the purchase price and payment terms, specifying whether it will be a lump sum or will involve installment payments. It further includes details on any earnest money deposit that the buyer needs to provide and the consequences of default on payment. In addition, the agreement covers the responsibilities and obligations of both parties during the transaction. This includes the buyer's right to conduct inspections and the seller's duty to disclose any known defects or issues with the property. It also outlines the process for resolving any disputes, such as through mediation or arbitration. There may be variations or additional types of Sterling Heights Michigan contracts for sale and purchase of real estate with no broker for residential home sale agreement, depending on specific circumstances. Some of these variations may include: 1. Contract for Sale and Purchase of Real Estate with No Broker for a New Construction Home: This type of agreement caters specifically to new construction homes in Sterling Heights, Michigan. It may include additional clauses related to construction timelines, warranties, and allowances for changes or upgrades. 2. Contract for Sale and Purchase of Real Estate with No Broker for a Foreclosed Property: In case the residential property being sold is a foreclosed property, this type of agreement may include provisions related to the buyer's understanding of the property's condition and any liabilities or encumbrances associated with the foreclosure process. 3. Contract for Sale and Purchase of Real Estate with No Broker for a Condominium: If the property being sold is a condominium unit, this agreement may encompass specific clauses addressing condominium association fees, rules, and regulations, as well as responsibilities related to shared amenities and common areas. It is important to note that these variations will depend on the specific circumstances and requirements of each real estate transaction in Sterling Heights, Michigan. Therefore, it is advisable to consult with a real estate attorney or professional to ensure the agreement accurately reflects the intentions and protects the interests of both the buyer and the seller.
