This form is a Contract for the sale of real estate for use in Michigan. It can be used for a cash sale, assumption or new loan buyer. The contract contains provisions common to a real estate transaction. No broker involved.
Grand Rapids Michigan Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement
Category:
State:
Michigan
City:
Grand Rapids
Control #:
MI-00472
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Michigan Contract For Sale And Purchase Of Real Estate With No Broker For Residential Home Sale Agreement?
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FAQ
No. Earnest money deposits are not required, but are almost always provided as evidence of the buyers' willingness and ability to perform. 2. Can a broker wait until the buyers' offer is accepted before depositing the earnest money check?
Content of a Purchase Agreement 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.
How do I write a Sales Agreement? Specify your location.Provide the buyer's and seller's information.Describe the goods and services.State the price and deposit details (if applicable)Outline payment details.Provide delivery terms.Include liability details.State if there's a warranty on the goods.
Required Elements of a Real Estate Contract To establish legality, a real estate contract must include a legal purpose, legally competent parties, agreement by offer and acceptance, consideration, and consent.
At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.
Create a Title for Your Contract.Explain the Particulars.Describe the Transaction.List the Buyer's Responsibilities.List the Seller's Responsibilities.Include a Signing Section.Monitor Contract Performance.
There are essentially four types of real estate contracts: purchase agreement contracts, contracts for deed, lease agreements, and power of attorney contracts. They each have different uses and stipulations.
A draft contract is an agreement that's not finalized. During the process of a property transaction, for instance, the first agreement is called the draft contract. The precise terms and wording also have not been agreed to by all sides.
On the basis of validity or enforceability, we have five different types of contracts as given below. Valid Contracts.Void Contract Or Agreement.Voidable Contract.Illegal Contract.Unenforceable Contracts.
How to Write a Real Estate Purchase Agreement Step 1 ? Fill Out Buyer and Seller Information.Step 2 ? Describe the Property.Step 3 ? Identify Personal Property.Step 4 ? Provide the Purchase Price and Details.Step 5 ? Describe Disclosures.Step 6 ? Write Assumption of Loan Details.Step 7 ? Identify Financing Contingencies.
