The Real Estate Contract - Simple - Easy - Free

1/16/2018 The Real Estate Contract - Simple - Easy - Free
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Simple Real Estate Contract

Property Address:______________________________________________
Legal Description:______________________________________________
Seller Name(s):________________________________________________
Buyer Name(s):________________________________________________
For mutual consideration received, the undersigned buyer hereby agrees to purchase and
the undersigned seller hereby agrees to sell the real property stated herein with all
improvements and subject to all easements, covenants, restrictions, and reservations of
record:
1. PURCHASE PRICE: The purchase price to be paid by the buyer shall be
________________________________________________________ dollars.
2. DEPOSIT: Buyer has tendered to the seller, escrow agent, or other appropriate party
_________________________________________________________ dollars,
as a binder deposit/purchase deposit/earnest money deposit (which shall apply toward the
purchase price) to bind this contract. If the binder deposit check is rejected by the financial
institution upon which it is drawn, the seller may cancel this contract immediately. If the
buyer defaults under the terms of this contract, the binder deposit shall be surrendered to
the seller as liquidated damages, and not as penalty. If the buyer exercises any right stated
below (or declared by law) to cancel this contract, the binder deposit shall be returned to
the buyer within five (5) calendar days.
3. FINANCING: (select one)
a) [ ] The buyer is paying cash for the property.
b) [ ] The buyer is obtaining a loan/mortgage.
Not later than ____________ calendar days from the date this contract is fully endorsed
(signed by all parties), the buyer shall provide the seller with proof of funds (if paying
cash) or a lender's letter of pre-approval (if obtaining a loan). If the buyer does not provide
the seller with such documentation, the seller shall have the right to cancel this contract,
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resulting in a return of the binder deposit to the buyer within five (5) calendar days.
4. APPRAISAL: (select one)
a) [ ] No appraisal is required or desired.
b) [ ] The buyer (and/or buyer’s lender) shall have ____________ calendar days (unless
otherwise declared by law) from the date this contract is fully endorsed, to have an
appraisal performed by a licensed/certified appraiser. If the contract purchase price
exceeds the appraised value, the buyer shall have the right to cancel this contract. If the
appraisal is not completed before the expiration of the time frame stated herein (or
declared by law), the seller shall have the right to cancel this contract, resulting in a return
of the binder deposit to the buyer.
5. INSPECTION & REPAIRS: (select one)
a) [ ] The buyer accepts the property “AS IS, WHERE IS and WITH ALL FAULTS”.
b) [ ] The buyer shall have ____________ calendar days (unless otherwise declared by
law) from the date this contract is fully endorsed, to have professional inspections
performed by licensed/certified inspectors or contractors. Inspection of the property may
include, but is not limited to, general home inspection, survey, structural, termite, wood
infestation, fungus, septic/sewer, mold, radon, and lead-based paint hazards. If the buyer
does not present the seller any professional inspection reports identifying defective
conditions before the expiration of the time frame stated herein (or declared by law), the
property shall be consider in acceptable condition and the repair requirement below shall
not apply.
Provided it will not exceed a cost of $____________________, the seller agrees to

correct/repair the defective condition(s) reported in any such professional inspection
reports. If correction/repair of such defective condition(s) exceeds the amount stated herein
and the parties cannot reach an agreement addressing such repair(s) to the satisfaction of
the buyer, the buyer shall have the option to accept the property “as is” or cancel this
contract.
6. IS A LEAD-BASED PAINT DISCLOSURE & PAMPHLET REQUIRED:

__________YES __________NO
This disclosure and pamphlet are federally mandated for properties built prior to 1978.
Disclosure and the pamphlet "Protect Your Family from Lead in Your Home” are available
at: www.hud.gov
7. PERSONAL PROPERTY: The following personal property shall be included in the sale
in its “as is” condition.
_______________________________________________________________
8. CLOSING: Time being of the essence, closing shall be on or before

_________________, 20_______.
9. POSSESSION: (select one)
a) [ ] Possession shall be delivered at closing.
b) [ ] There is an occupancy agreement attached, detailing the terms for “delivery of

possession”.
10. MERCHANTABLE TITLE: At closing, the seller shall convey good and merchantable
title via general warranty or other appropriate deed. The seller shall make all reasonable
efforts to provide merchantable title. In the event that the title is unmerchantable, this
contract shall be deemed canceled, resulting in a return of the binder deposit to the buyer
within five (5) calendar days.
11. TITLE INSURANCE: Title Insurance (or other “title evidence”) to be issued in the
form of: (more than one may apply)
[ ] Mortgagee Title Insurance [ ] Owner’s Title Insurance [ ] Other:_____________
12. SELLER’S CLOSING COST: The seller shall pay the following expenses relating to
the closing of this transaction:
__________________________________________________________________
13. BUYER’S CLOSING COST: The buyer shall pay the following expenses relating to
the closing of this transaction:
__________________________________________________________________
14. PRORATION: Property taxes, valorem taxes, association fees, and the like, shall be
prorated at the time of closing.
15. ADDITIONAL PROVISIONS: _____________________________________
__________________________________________________________________
16. RISK OF LOSS: The seller agrees to keep hazard insurance on the structure until the
sale of the property has been completed as provided herein.
17. NO ASSIGNMENT: The buyer may not assign or transfer their rights or obligations
under this contract or any interest herein.
18. FAILURE TO INSIST ON STRICT PERFORMANCE: Party does not give up rights.
If either party fails to enforce any clause or part of this contract, said party may enforce
such clauses or parts at a later time without penalty.
19. RIGHTS DECLARED BY LAW: If there is any conflict between this contract and any
provisions of federal, state, or local laws, the rights declared by such law shall control,
supersede and be superior to this contract.
20. SEVERABILITY: If any portion of this contract is found to be invalid or

unenforceable, the remainder of this contract will remain in full force and effect.
21. ENTIRE AGREEMENT: This contract and any attachments signed by both parties
constitute the entire agreement between buyer and seller and supersede all prior
discussions, negotiations, and agreements between the buyer and the seller. Neither the
buyer nor the seller (nor agent thereof) shall be bound by any understanding, agreement,
promise, or representation, either expressed or implied, that is not specified in this contract
or signed attachments.
IF THIS DOCUMENT IS NOT CLEAR TO ANY PARTY, SEEK COMPETENT LEGAL

ADVICE BEFORE SIGNING.
Seller(s)_______________________________________
Date_________________________________________
Buyer(s)_______________________________________
Date _________________________________________
SimpleRealEstateContract.com provides informational products and is not a law firm, does

not provide legal advice, does not act as your attorney, and is not a substitute for the advice
of an attorney.
This publication is designed to provide accurate and authoritative information regarding

the subject matter covered and is provided with the express understanding that the
publisher is not engaged in rendering legal, accounting, or other professional services. If
legal advice or other expert assistance is required, the services of a competent professional
should be sought.
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What are the main components of a real estate contract?

What are the main components of a real estate contract?

What options does the buyer have for financing and appraisal?

What options does the buyer have for financing and appraisal?

1/16/2018 The Real Estate Contract - Simple - Easy - Free

Just print the page

Simple Real Estate Contract

1. PURCHASE PRICE: The purchase price to be paid by the buyer shall be

3. FINANCING: (select one)

a) [ ] The buyer is paying cash for the property.

b) [ ] The buyer is obtaining a loan/mortgage.

4. APPRAISAL: (select one)

a) [ ] No appraisal is required or desired.

5. INSPECTION & REPAIRS: (select one)

Provided it will not exceed a cost of $____________________, the seller agrees to

6. IS A LEAD-BASED PAINT DISCLOSURE & PAMPHLET REQUIRED:

in its “as is” condition.

8. CLOSING: Time being of the essence, closing shall be on or before

9. POSSESSION: (select one)

a) [ ] Possession shall be delivered at closing.

b) [ ] There is an occupancy agreement attached, detailing the terms for “delivery of

[ ] Mortgagee Title Insurance [ ] Owner’s Title Insurance [ ] Other:_____________

15. ADDITIONAL PROVISIONS: _____________________________________

20. SEVERABILITY: If any portion of this contract is found to be invalid or

IF THIS DOCUMENT IS NOT CLEAR TO ANY PARTY, SEEK COMPETENT LEGAL

SimpleRealEstateContract.com provides informational products and is not a law firm, does

This publication is designed to provide accurate and authoritative information regarding

Privacy Policy | Site Map | Real Estate Contract | HUD Site

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