A residential real estate purchase contract is a kind of a legal document which is framed in the case when an SELLER of a residential property sells the property to a buyer. These contracts are legally binding in nature which means that the terms and conditions mentioned in these contracts cannot be violated by any of the parties involved.
A residential real estate purchase contract must consist of all the important details such as the names, addresses of the parties, the details of the property etc. The following is a sample of a residential real estate purchase contract which can be used for the purpose of reference.
Sample Residential Real Estate Purchase Contract
This residential real estate purchase contract has been framed as on 5th July 2013.
This contract has been made between the SELLER and the BUYER of the residential real estate property.
The following are the details of the parties involved.
Name: Mr. Henry Radcliff
Residential address: D-89, Darwin road, Timothy enclave, London
Mobile number: 49407309550
Name: Mr. Jack Timothy
Address: S/45, Tim Street, Putney, London
Mobile number: 47030505333
Residential Property Details:
Address of the property: W-90, west wing, Peter enclave, London
Area of the property: 800 sq feet
Total sale price: $50000
Terms and Conditions:
- With the sale of the property, the SELLER hands over the rights of the property to the buyer.
- The Buyer shall now be legally entitled to the ownership of the residential property.
- The buyer holds the right to lease or sell the property to any other third person or party.
- The SELLER must hand over the property with its legal documents to the buyer on the effective date of contract.
- The SELLER must vacant the space before handing over the property.
- The BUYER must make the total payment to the SELLER on the effective date of contract.
Signatures of the Parties: