Purchase Agreement Forms - Real Estate Purchase Agreement Sample

Real Estate Purchase Agreement Secrets Purchase Agreement

A real estate purchase agreement shouldn't be a secret. However, there are some things other companies that sell forms for real estate property won't tell you. We'll reveal some of these hidden facts about forms for buying property below.

1. Generic forms for homes for sale won't comply with state laws. There are state laws regulating buying a home, which vary by state. US Legal Forms offers a state-specific home for sale package that contains the notices and disclosures required in your state. Many forms offered online have a state's name in the title, but when you have a house for sale, you want to make sure it's been drafted according to your state's requirements for notices and disclosures.

2. For sale by owner properties can be sold as easily and with less expense involved than those sold through a broker. Having the properly drafted contract of sale is vital to ensuring a smooth transaction. When you use professionally drafted contracts and forms, you don't need to be a legal expert or real estate broker to have a successful deal. Without the need to pay a broker's commission, a property for sale by owner can mean a lower price for the buyer and more profit for the seller. A contract for deed can also be used to create a rent to own situation, and sell property that's been on the market a while, or attract buyers who don't qualify for a traditional mortgage loan.

3. Don't rely on the word of others when it comes to property for sale. Besides having the right terms included in a contract, a buyer will want to conduct due diligence. Due diligence when you buy property means conducting a title search to ensure that there are no liens, foreclosure proceedings, or other claims on the property, and having a property inspection done by a professional.

A real estate sale is required to be in writing according to a law called the Statute of Frauds. Any transaction involving properties for sale should use quality legal forms to minimize future disputes, which can lead to delays, extra expense, and litigation. Whether you're looking a to buy or sell houses on sale, land for sale, or commercial real estate, we have professionally drafted forms for all your needs, as well as state-specific, discounted packages.