A residential sales contract is signed between the owner of a property or a real estate company and a buyer in which details of the sale of the property are laid out. The contract includes all the terms and conditions related to the sale, including the amount, names and addresses of the two parties, payment options, source of funds and transfer of rights of the property from the seller to the buyer.

Sample Residential Sales Contract:

This residential sales contract is entered on May 27, 2011 by and between the following parties:

SELLER DETAILS

Name: Sharon Geller

Address: 21 Richmond Avenue, New Jersey

Phone number: 2017834309

BUYER DETAILS

Name: Josh Andrews

Address: Carville Drive, New Jersey

Phone number: 2019859459

PROPERTY DETAILS

Address: 21 Richmond Avenue, New Jersey

Selling price: $40,000

TERMS AND CONDITIONS

  • The seller shall sell the property mentioned above and the buyer shall buy the residential property including all the improvements and fixtures attached with it.
  • The seller shall receive a total sum of $40,000 from the buyer for the property.
  • The buyer shall pay $20,000 upfront to the seller and the rest of the amount will be paid in instalments covering a period of 3 years.
  • As per this contract, the buyer is the new owner of the house and hereby gets all the rights to the property.
  • The buyer shall have to pay the necessary taxes to be imposed on the property.

The undersigned understand and agree to the terms and conditions mentioned above.

Signature: Sharon Geller

Signature: Josh Andrews

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