Hawaii Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement
What this document covers
The Contract for Sale and Purchase of Real Estate with No Broker is a legal document used specifically for residential property transactions in Hawaii. This form allows buyers and sellers to outline terms without the involvement of a real estate broker. Its clear provisions cover aspects like financing, property condition, and closing costs, making it distinct from other real estate agreements that may require broker representation.
Key components of this form
- Financing options, including cash sales and new loan agreements.
- Disclosure of property condition, including "as-is" acceptance.
- Provisions for appraisal, survey, and termite inspection responsibilities.
- Closing cost allocation and proration for taxes and fees.
- Default and enforcement clauses for buyer and seller obligations.
Common use cases
This form is essential when a homeowner in Hawaii wants to sell their property without a broker, whether for a cash purchase or through an assumed loan. It is useful for direct transactions between buyers and sellers, particularly when both parties are comfortable negotiating terms without intermediary assistance.
Who should use this form
- Homeowners looking to sell their property directly.
- Buyers interested in purchasing a home without broker involvement.
- Individuals familiar with real estate transactions and comfortable negotiating terms.
Steps to complete this form
- Identify the parties involved in the transaction, including buyer and seller names.
- Specify the property by including its address and legal description.
- Enter the agreed purchase price and specify the financing type.
- Select responsibilities for appraisal, survey, and termite inspections.
- Detail the allocation of closing costs and prorate any applicable taxes.
- Review and sign the document to finalize the agreement.
Does this document require notarization?
To make this form legally binding, it must be notarized. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to accurately describe property condition, leading to disputes post-closing.
- Neglecting to specify financing details, which can complicate closing.
- Not prorating taxes and other costs appropriately, resulting in unexpected fees.
Advantages of online completion
- Easy access to a professionally drafted contract without the need for a broker.
- Editable format allows for customization to fit specific transaction needs.
- Convenient download option ensures you have the form ready when needed.
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FAQ
A real estate deal can take a turn for the worst if the contract is not carefully written to include all the legal stipulations for both the buyer and seller.You can write your own real estate purchase agreement without paying any money as long as you include certain specifics about your home.
Who Prepares The Real Estate Purchase Agreement? Typically, the buyer's agent writes up the purchase agreement. However, unless they are legally licensed to practice law, real estate agents generally can't create their own legal contracts.
A real estate deal can take a turn for the worst if the contract is not carefully written to include all the legal stipulations for both the buyer and seller.You can write your own real estate purchase agreement without paying any money as long as you include certain specifics about your home.
Who Prepares The Real Estate Purchase Agreement? Typically, the buyer's agent writes up the purchase agreement. However, unless they are legally licensed to practice law, real estate agents generally can't create their own legal contracts.
Does a Real Estate Purchase Agreement have to be notarized in order to be valid? No, this document does not have to be signed by a notary public since it does not get filed with the County Recorder's Office.
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.
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 Home Financing And Closing.
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.
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.
