This form is an Agreement for the Sale and Purchase of Land made between a buyer and seller of real estate located within the state of Mississippi.
Sale Contract With Condition
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A conditional contract is an agreement or contract conditional upon a specific event, the occurrence of which, at the date of the agreement, is uncertain. A common example is a contract conditional upon the buyer getting planning permission.
A conditional sales agreement is a financing arrangement where a buyer takes possession of an asset, but its title and right of repossession remain with the seller until the purchase price is paid in full.
A conditional contract, also called a hypothetical contract, is a contract agreement that only requires performance once the delineated conditions are met. This legal agreement requires prior performance of another agreement or clause in order to be enforceable.
How to Fill Out a Residential Purchase AgreementPlace the name(s) of the seller(s) on the contract.Write the date of the offer on the agreement.Add the purchase price to the contract.Include a request for the seller to provide a clear title and deed for the property.More items...
Primary tabs. A conditional sale refers to a transaction in which the purchaser receives possession of and the right to use certain goods, but the title remains with the seller until the performance of a condition is met by the buyer.
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One of the first things that a sales contract should do is clearly identify the parties involved, which is typically just a buyer and a seller. A condition precedent is something that must occur before an obligation exists.The contract will state that the title, ownership, and right of property remains with the seller until full payment is made. The vendor, agrees to sell it under certain terms and conditions. In real estate, a purchase agreement is a binding contract between a buyer and seller that outlines the details of a home sale transaction.