Any document which is framed in the case when the owner of a real estate property agrees to sell the property to another party or person for a fixed amount is known as a residential real estate sales contract. Any such contract formalizes various mutual decisions which the parties take regarding the sale of the residential property.
Any residential real estate sales contract consists of certain legally binding terms and conditions which cannot be violated by any of the involved parties. The following is a well detailed sample of a residential real estate sales contract which can be used for the purpose of reference by anyone.
Sample Residential Real Estate Sales Contract
This is a residential real estate sales contract which has been made official on 3rd Jan 2012.
This contract has been made by and between the SELLER of the property and the BUYER of the property.
The details of both the parties involved are given as below:
Name: Mr. Fred Harvard
Residential address: W-23, first floor, Jackson Street, Birmingham
Mobile number: 4702490505
Name: Mr. Kell Peters
Address: Q-45, fourth floor, Putney, Birmingham
Mobile number: 470340940
Residential Property Details:
Address of the property: 23/M, West Birmingham road, Birmingham
Type of property: Residential property
Total area of the property: 900 sq feet
Total amount: $50000
Terms and Conditions of the Contract:
- The seller of the property must vacate the space before the effective date of contract and hand over the property with its legal documents to the buyer.
- The buyer shall hold all the ownership rights of the property from the effective date onwards.
- The buyer is entitled to lease or sell the property after having its ownership rights.
- The seller shall not, in any way be entitled to have a claim over the property once it is sold.
- The buyer must make full and final payment to the seller on the effective date of contract.
Signatures of the Parties: