This form is for an option to purchase a residential real estate lot or track of land. It provides for the payment of option money and the procedures for exercise of the option.
Middlesex Massachusetts Option For the Sale and Purchase of Real Estate - Residential Lot or Land
Category:
State:
Multi-State
County:
Middlesex
Control #:
US-00582
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Option For The Sale And Purchase Of Real Estate - Residential Lot Or Land?
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FAQ
A section 32 vendor statement refers to the legal document given by the seller to the potential buyer. Essentially, this document contains all the information about the property that is required by law that the seller must provide to the buyer.
A residential property cannot be advertised for sale until a contract of sale has been prepared. The contract must contain a copy of the title documents, drainage diagram and a current Zoning Certificate (section 10.7) issued by the local council.
TFT (transaction fell through) means a listing was on the market, and then it went under contract into pending status, but for some reason, the buyer backed out and the property is back on the market. This could happen for a number of reasons including mortgage issues or findings from an inspection. #
Terms in this set (6)Residential. All property used for single-family or multi family housing weather in urban, suburban or rural area.Commercial. Business property, including office space, shopping centers, stores, theaters, hotels, and parking faculties.Mixed use.Industrial.Agriculture.Special purpose.
They average approx $200 for a house and $350 for a unit/apartment with one Owners Corporation. Please contact us for a quote. No fees due upfront: Our fees and disbursements are generally not payable until settlement.
Before a property is sold, you must give the buyer a Section 32 statement. This document is usually prepared by your legal practitioner or conveyancer. The reason it is called a Section 32 statement is because the information it must contain is set out in section 32 of the Sale of Land Act 1962.
The agreement should specify whether the buyer or seller pays for each of the common fees associated with the home purchase, such as escrow fees, title search fees, title insurance, notary fees, recording fees, transfer tax, and so on.
A vendor's statement also known as section 32 is a document that tells potential buyers certain things about the property title they should know before signing a contract to purchase. A vendor's statement discloses information not readily found by inspecting a property.
Section 32(1) of the Sale of Land Act provides that a vendor under a contract for the sale of land must give to the purchaser, before the purchaser signs the contract, a statement signed by the vendor that contains the matters and attaches the documents specified in Division 2 of Part II of the Sale of Land Act.
These documents include the title search and plan, the council planning and information certificates, water statement, building certificates, roads proposal search, contaminated land, land tax and other searches depending on the property type and location.