Uniform Real Estate Contract For Sale By Owner
Description
How to fill out Utah Uniform Real Estate Contract?
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FAQ
Rather than receive title to the home up front, the buyer would sign a Uniform Real Estate Contract (also known as an installment contract, or a contract for deed), pursuant to which the buyer would move into the home and make payments to the seller over time.
A sales and purchase agreement (SPA) is a binding legal contract between two parties that obligates a transaction to occur between a buyer and seller. SPAs are typically used for real estate transactions, but they are found in other areas of business.
Most often, the buyer's real estate agent will write up and prepare the purchase agreement for a house. Note that agents (not being practicing attorneys themselves) can't create their own contracts.
At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.
As the buyer, your real estate agent usually writes the first draft of the contract. It isn't binding unless the seller signs. Real estate agents don't write these from scratch. They start with a template that has standard wording.