Do you want to sell or buy a real estate property? Are you a real estate agent? Would you like to make real estate purchase agreements easier and more comfortable for yourself and/or your clients? In this case, then this template is for you! With Parallel, you can automate the creation of a residential real estate purchase agreement.
Once it has been decided to formalize the purchase and sale of a residence, the only thing left to do is to fill out and sign the contract. Easy, isn't it? Well, based on revisions and back and forth emails, this can take many days... With Parallel, you can easily create the contract and sign it online (no need for further meetings), offering a much more convenient experience for everyone.
This real estate agent residential purchase agreement is a binding contract between a buyer and seller and includes the following information:
This template is a generic example, and you can try it with your company. However, it can also be very easily modified to adjust to your agency's conditions.
Finally, to sign the contract, once all the data has been completed, activate the electronic signature. Read more about our e-signature integration here.
Please note that, there are fields to complete the information but once completed it will be fully integrated into the text and in PDF.
A. RESIDENTIAL REAL ESTATE PURCHASE AGREEMENT
1. This Residential Real Estate Purchase Agreement was made on:
B. I. The Parties.
2. Buyer's Name:
3. Mailing address of the Buyer:
4. The City:
5. The State:
6. Seller's Name:
7. Mailing address of the Seller:
8. The City:
9. The State:
F. II. Legal Description.
10. The real property is a:
11. Street Address:
12. What is the Parcel ID or Tax Map?
G. III. Personal Property.
13. In addition to the real property described above, what personal property shall the seller include?
H. IV. Earnest Money.
14. What will be the Earnest Money amount paid by the Buyer?
15. By when will the Earnest Money have to be paid?
16. Exactly what time will the Earnest Money have to be paid? (Including either AM OR PM)
17. ¿Is the Earnest Money required to be placed in a separate trust or escrow account in accordance with State law?
I. V. Purchase Price and Terms.
18. What is the agreed amount for the purchase of the property?
19. What is the agreed amount for the purchase of the property? (IN CAPITAL LETTERS)
20. How will the buyer proceed with Payment OR Financing?
21. Date by when 3rd party documentation shall be shared:
22. Please include the time 3rd party documentation shall be shared. Specify if (AM or PM):
23. What type of financing will provide the Buyer with the power to purchase the property?
24. FHA LOAN Document
25. VA LOAN Document
26. When will the buyer provide proof of funds?
27. Is the Loan approval contingent on the lease, sale, or recording of another property?
28. Number of days in which the Seller can terminate this agreement after Buyer provides proof of funds (which Seller does not find acceptable):
29. Loan Amount:
30. Down Payment:
31. Interest Rate (per annum):
32. The Seller's approval of the requested documentation should be provided on or before when?
33. The Seller shall have until when to approve the documentation?
K. VI. Sale of Another Property.
34. Buyer’s performance under this Agreement:
35. Mailing address of the property that Buyer will sell in order to proceed with this agreement:
36. The City of the property that Buyer will sell in order to proceed with this agreement::
37. The State of the property that Buyer will sell in order to proceed with this agreement::
38. Within how many days from the effective date would this agreement be contingent on selling another property.
L. VII. Closing Costs.
39. The costs attributed to the Closing of the Property shall be the responsibility of:
M. VIII. Funds at Closing.
N. IX. Closing.
40. By when will the transaction be closed?
41. Exactly what time will the transaction be closed? (Including either AM OR PM)
O. X. Survey.
42. What is the maximum number of days for the Survey Problems to be paid?
43. Within how many days within closing shall the seller remedy the defects of the Survey Problems?
P. XI. Mineral Rights.
Q. XII. Title.
44. How many days until the Buyer has to notify the Seller if any matters disclosed in the report which are unacceptable to Buyer?
45. How many days for the Seller to correct any objections made by the Buyer regarding the Title Search Report, mortgage loan inspection, or other information that discloses a material defect?
R. XIII. Property Condition.
46. Until when does the Buyer have to hire qualified professionals to further inspect the property?
47. At what time? (Including either AM OR PM)
48. Buyer shall have until when to present new property disclosures?
49. Exactly what time? (Including AM or PM)
50. How many days will be available for the Buyer and Seller to reach an agreement regarding any new property disclosures.
S. XIV. Seller’s Indemnification.
T. XV. Appraisal.
51. Buyers performance under this agreement:
52. How many business days for the party to renegotiate this agreement?
U. XVI. Required Documents.
V. XVII. Termination.
53. Within how many days shall the earnest money be returned?
W. XVIII. Sex Offenders.
X. XIX. Time.
Y. XX. Buyer’s Default.
Z. XXI. Seller’s Default.
AA. XXII. Earnest Money Dispute.
AB. XXIII. Dispute Resolution.
AF. XXIV. Governing Law.
54. Which State shall this agreement be in accordance with?
AG. XXV. Terms and Conditions of Offer.
AH. XXVI. Binding Effect.
AI. XXVII. Severability.
AJ. XXVIII. Offer Expiration.
55. When shall the Earnest Money be returned if the agreement is deemed revoked?
56. At what time (Include AM or PM):
AK. XXIX. Acceptance.
AL. XXX. Licensed Real Estate Agent(s).
AM. XXXI. Disclosures.
58. Addendums or Disclosures
59. Are there any additional terms and conditions?
60. What are the additional Terms and Conditions?
AN. XXXII. Additional Terms & Conditions.
AO. XXXIII. Entire Agreement.
AP. XXXII. Entire Agreement.