This form should be used for the sale of a residential lot or land.
Kansas Contract for the Sale and Purchase of Real Estate - No Broker - Residential Lot or Land
Category:
State:
Multi-State
Control #:
US-00472B
Format:
Word;
Rich Text
Instant download
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How to fill out Contract For The Sale And Purchase Of Real Estate - No Broker - Residential Lot Or Land?
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FAQ
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...
How to write a real estate purchase agreement.Identify the address of the property being purchased, including all required legal descriptions.Identify the names and addresses of both the buyer and the seller.Detail the price of the property and the terms of the purchase.Set the closing date and closing costs.More items...
Formal Versus Informal Contracts The contract contains an offer for some type of good or service, an acceptance of the offer, and consideration, or payment, for the goods or service delivered. An informal contract, by contrast, does not have to be signed or even written.
What is included in the contract?The names of the vendor and purchaser.The address of the property.The deposit amount and due date.The sale price.The date of the property settlement and whether there are any conditions.Whether the property is available as 'vacant possession' or 'subject to a lease'More items...
Statute of Frauds: A statute which requires certain types of contracts to be in writing in order to be enforceable.
What are the steps to buying a house in Kansas?Save for down payment.Get pre-approved for a mortgage.Choose your preferred Kansas.Partner with the right real estate agent in Kansas.Go house hunting.Make a strong offer.Pass inspections and appraisal.Do a final walkthrough and close.
Sales of real estate fall under the Statute of Frauds, and so all contracts for the sale of a home must be in writing.
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.More items...?
Assignment of contract involves one party transferring the rights of a real estate purchase agreement to another party. This real estate investing strategy can involve time and financial pressure, but the assignor can potentially make a quick buck.
The bottom line is: Real estate contracts must always be in writing in order to be enforceable. While laws may vary from state to state, most states have a Statute of Frauds that applies.