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US Legal Forms
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Tennessee
Memphis
Basic Real Estate Contract

Memphis Tennessee Basic Real Estate Contract

Category:

Real Estate - Contracts

State:

Multi-State

City:

Memphis

Control #:

US-RE-C-981712-1

Format:

Word;

Rich Text

Instant download

Buy now

Description

This is a sample Basic Real Estate Contract. A Real Estate Contract is a legally binding document between two or more parties participating in a purchase and sale, exchange or transfer of real estate. The form may be customized to suit your needs.

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Interesting Questions

How long does a basic real estate contract typically last?

The duration can vary, but most contracts specify a closing date. Once that date rolls around and everything’s settled, you're good to go!

What is a contingency in a real estate contract?

A contingency is a condition that must be met for the contract to be valid. For instance, if the buyer needs to sell their current home first, that's a contingency.

Can I make changes to the real estate contract after signing?

Yes! But both parties need to agree on any changes. It's like making a deal; everyone has to be on board for things to proceed smoothly.

What happens if one party wants to back out of the contract?

If someone wants to back out, it depends on the contract terms. If there are contingencies in place, it might be easier to get out without any hard feelings.

Do I need a lawyer for a real estate contract in Memphis?

While it's not a must, having a lawyer can help you navigate the legal mumbo jumbo. They can ensure everything is in tip-top shape and protect your interests.

What is a basic real estate contract?

A basic real estate contract is a written agreement between a buyer and a seller outlining the terms of a property sale. It lays down the ground rules and ensures everyone's on the same page.