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Option For the Sale and Purchase of Real Estate - Residential Lot or...

Santa Clara California Option For the Sale and Purchase of Real Estate - Residential Lot or Land

Name: Santa Clara California Option For the Sale and Purchase of Real Estate - Residential Lot or Land
Brand: US Legal Forms
Rating: 4.55 (364 reviews)

Category:

Real Estate - Options

State:

Multi-State

County:

Santa Clara

Control #:

US-00582

Format:

Instant download

Description

This form is for an option to purchase a residential real estate lot or track of land. It provides for the payment of option money and the procedures for exercise of the option.

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How to fill out Santa Clara California Option For The Sale And Purchase Of Real Estate - Residential Lot Or Land?

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FAQ

An option agreement is where a prospective buyer enters into an agreement with a landowner for the right to buy their land/property, often paying the landowner a sum of money as an option fee. The prospective buyer then has the option (within a period defined within the agreement) to buy the land/property.

You should include:Land or real estate location.Property description.Sale date.Sale price for the land or real estate.Contact information for the buyer and seller.Terms and conditions of the sale (for example, the buyer accepts property as is)

(Rupees ), will be received by the FIRST PARTY from the SECOND PARTY, at the time of registration of the Sale Deed, the FIRST PARTY doth hereby agree to grant, convey, sell, transfer and assign all his rights, titles and interests in the said portion of the said property, fully

A contract must be signed by both parties involved in the purchase and sale of a property to be legally enforceable. All parties signing must be of legal age and must enter into the contract voluntarily, not by force, to be enforceable.

A residential property cannot be advertised for sale until a contract of sale has been prepared. The contract must contain a copy of the title documents, drainage diagram and a current Zoning Certificate (section 10.7) issued by the local council.

Any purchase agreement should include at least the following information:The identity of the buyer and seller.A description of the property being purchased.The purchase price.The terms as to how and when payment is to be made.The terms as to how, when, and where the goods will be delivered to the purchaser.More items...

Affordable business financing. Crazy fast.Identity of the Parties/Date of Agreement. The first topic a sales contract should address is the identity of the parties.Description of Goods and/or Services. A sales contract should also address what is being bought or sold.Payment.Delivery.Miscellaneous Provisions.Samples.

The option can also be used as an investment: Someone buys the option, waits for the land's value to increase, then exercises the option, buys the property, and makes a profit on its sale. In an option contract, only the seller is bound. That is, the buyer is not required to eventually buy the place.

Your sale and purchase agreement should include the following:Your name(s) and the names of the seller(s).The address of the property.The type of title (for example, freehold or leasehold).The price.Any deposit you must pay.Any chattels being sold with the property (for example, whiteware or curtains).More items...

What is an "option to purchase" agreement? An option to purchase is an agreement that gives a potential buyer (optionee) the right, but not the obligation, to buy property in the future. The optionee must decide by a certain time whether to exercise the option and thereafter by bound under the contract to purchase.

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Real Estate Appraised: Three Hypothetical One-Acre Lots, One for Each Zip Code, Santa Clara, California. Save this search to get email alerts when listings hit the market.To participate in the proceeds of sale of the land. Does a "transfer of a present interest" in real property occur only when there is a sale or purchase of a property? This Advisory is intended to be used in connection with the purchase and sale of real property located within San Mateo or Santa. Sometimes inheriting a property can be a lot of work, simply because you have to suddenly deal with the maintenance and taxes that comes with it. We finance Mobile Homes In-Park and On-Land. Before you fill out that online application with one of those big online-only lenders, call us at 408-282-0742. Supra provides a cutting edge electronic lockbox system to the real estate industry. Offer to pay what you think is a fair price based on the research you and your agent have done as well as the level of interest in the property.

Santa Clara California Option For the Sale and Purchase of Real Estate - Residential Lot or Land

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