Ohio Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement
Understanding this form
This form is a Contract for Sale and Purchase of Real Estate with No Broker for Residential Home Sale Agreement in Ohio. It outlines the terms for selling or purchasing residential property without the involvement of a broker. This agreement serves as a legally binding document, detailing the responsibilities of both the buyer and seller, making it distinct from other sales contracts that may include broker fees or services.
What’s included in this form
- Identification of the parties involved (buyer and seller).
- Description of the property being sold.
- Terms regarding payment and financing options.
- Conditions for inspection and acceptance of the property.
- Provisions related to closing costs and responsibilities.
- Clauses regarding default and remedies available to the parties.
When this form is needed
This form should be used when a homeowner wishes to sell their property directly to a buyer without engaging a real estate broker. It is applicable in scenarios where parties have agreed upon the sale, and both are ready to formalize the transaction. It is especially useful in cash sales or when the buyer assumes existing financing.
Who needs this form
- Homeowners in Ohio looking to sell their residential property.
- Buyers interested in purchasing residential property directly from the seller.
- Individuals familiar with real estate terms who prefer managing their sale or purchase without a broker.
- Parties seeking a straightforward sales agreement without broker fees.
Completing this form step by step
- Identify and provide the names and addresses of the buyer and seller.
- Clearly describe the property being sold, including its address and any relevant details.
- Specify the purchase price and payment method (cash, assumption of loans, etc.).
- Fill out any necessary clauses concerning inspections, disclosures, and acceptance of the property.
- Sign and date the contract where indicated by both parties.
Is notarization required?
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
Mistakes to watch out for
- Failure to provide a complete property description.
- Omitting details about financing contingencies.
- Not addressing closing costs or how they will be divided.
- Neglecting to include an inspection clause for the property.
Advantages of online completion
- Convenient access from anywhere, allowing you to complete the form at your own pace.
- Edit and customize the document to fit your specific needs without hassle.
- Reliable and up-to-date form templates drafted by licensed attorneys.
Form popularity
FAQ
1 Stating Basic Information in Your Contract. 2 Setting Forth the Payment Terms. 3 Disclosing Important Information to the Buyer. 4 Advising Parties About Closing Procedures.
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.
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.
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.
Use the Correct Form. courtneyk / Getty Images. Determine the Price. Witthaya Prasongsin / Getty Images. Make an Initial Deposit. Disclose your Down Payment. Name Your Financing Terms. Include Contingencies. Address Possessionin Detail. Spell Out Who Pays the Fees.
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.
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.
