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CONTRACT TO PURCHASE REAL ESTATE (Form approved by the Dayton Area Board of REALTORS . This is a legally binding contract. If the provisions are not understood, legal advice should be obtained.) 1.

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In real estate, a purchase agreement is a binding contract between a buyer and seller that outlines the details of a home sale transaction. ... Once both parties are in agreement and have signed the purchase agreement, they're considered to be under contract.

Use the Correct Form. courtneyk / Getty Images. ... Determine the Price. Witthaya Prasongsin / Getty Images. ... Make an Initial Deposit. ... Disclose your Down Payment. ... Name Your Financing Terms. ... Include Contingencies. ... Address Possession in Detail. ... Spell Out Who Pays the Fees.

Step 1: Apply For A Mortgage. ... Step 2: Research The Neighborhood. ... Step 3: Find A Property. ... Step 4: Ask For A Seller's Disclosure. ... Step 5: Make An Offer. ... Step 6: Hire A Lawyer And Home Inspector. ... Step 7: Negotiate. ... Step 8: Finalize Financing And Close.

When you sign a purchase agreement for real estate, you're legally bound to the contract terms, and you'll give the seller an upfront deposit called earnest money. ... But having contingencies in place makes backing out of an accepted offer perfectly legal while ensuring you get your earnest money back in most cases.

A legally binding real estate contract must be signed by all parties involved and something of value must be exchanged. A handshake alone is not sufficient to legally seal an agreement. In addition to signatures, a contract must be sealed with a tangible commodity such as cash, goods or services.

Can you back out of an accepted offer? The short answer: yes. When you sign a purchase agreement for real estate, you're legally bound to the contract terms, and you'll give the seller an upfront deposit called earnest money.

Even though your Realtor may have drafted the contract to sell or buy a property for you, s/he is not a party to that contract. A Realtor cannot force his/her client to fulfil the terms of a contract with the buyer or seller. ... Buyer does not remove the contract's subject clauses. Seller does not close the sale.

1 Access The Desired Real Estate Template To Record A Purchase Agreement. ... 2 Introduce The Agreement, Seller, Buyer, And Concerned Property. ... 3 Define The Basic Terms Of The Real Estate Purchase. ... 4 Record Any Property The Buyer Must Sell To Complete This Purchase.

Once both buyer and seller sign the purchase agreement, the contract is legally binding. In many cases, however, the contract has contingencies or certain conditions that must be met in order for the sale to go through.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232