Property Contract Condition For Deed

State:
Multi-State
Control #:
US-OG-969
Format:
Word; 
Rich Text
Instant download

Description

The Property Contract Condition for Deed is a legally binding agreement between a Purchaser and a Seller concerning the sale of real property, specifically tailored for communication system installations. This form outlines the conditions that must be met for the sale to proceed, including the necessity for permits, site approvals, and environmental assessments. The Purchaser's obligation to move forward with the purchase hinges on satisfactory completion of these conditions, thus offering a layer of security in real estate transactions. Key components include the purchase price, earnest money requirements, representations and warranties from the Seller regarding the property’s title, and stipulations for closing and potential breach of contract scenarios. These features ensure clarity in responsibilities and rights for both parties involved. The form is particularly useful for attorneys and legal assistants who need to draft and review property sales agreements, as well as for owners and associates engaged in real estate transactions, ensuring all necessary conditions are clearly laid out to safeguard their interests.
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  • Preview Contract for Sale of Real Property (To Be Used for a Communication System)
  • Preview Contract for Sale of Real Property (To Be Used for a Communication System)

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FAQ

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.

The most popular examples of Conditions are those for Buyers. eg. Conditional upon Buyer getting Financing (mortgage approval) or Conditional upon Inspection of the property by a home Inspector.

What Is the Difference Between a Contract Provision and Clause? A provision in a contract stipulates a condition or requirement. A clause is a section or subsection written into a contract, which may contain one or more provisions within it.

A provision may correspond with a clause, may span several clauses or be contained wholly within a subclause. It is a feature of the contract itself: verbal contracts will have provisions but they will not have clauses. A condition is a set of circumstances that must arise before another action can occur.

What Common Conditions Should You Include In Your Offer? Clean and Tidy. This is easily the most common condition. ... Re-visit the home prior to closing. ... Home inspection. ... New mortgage. ... Tenants. ... Repairs. ... Escape Clause. ... Sale of the buyer's home.

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Property Contract Condition For Deed