A home purchase contract is a legal document prepared when an individual purchases the house of another individual. Both the parties entering this contract are known as the buyer and the seller. The contract gives details like the name of both the parties, the price at which it will be sold etc.
Sample Home Purchase Contract:
This contract is being prepared between Charles Woo, the Seller and John Good, the Buyer on 18th November, 2010. Charles Woo is selling his house located at 1234 Mary Lee Street, Bang dong in the state of North Dakota with a pin code of 4562 to John Good at a total price of $200000. The Buyer will have possession of the house from 21st of November, 2010. The contract is being prepared according to the Ownership Right Act of the state of North Dakota. The house is spread over and area of 2000 feet.
Both the Seller and the Buyer needs to agree to the following terms and conditions:
- The total amount of $200000 will be paid in advance by the Buyer, before he takes possession of the house.
- The renovation charges of the house, if required will be borne by the Buyer.
- The Buyer has the complete right to inspect the house before purchasing it. In case there is any damage, the seller has to get it repaired.
- The contract cannot be cancelled once the Buyer has taken possession of the house.
Both the Buyer and the Seller have agreed to the terms and conditions:
John good Charles Woo
Dated: 18th November, 2010 Dated: 18th November, 2010