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What is the Contract for Sale and Purchase of Real Estate (No Broker)?
When you need to sell or purchase a real estate, you would like to avoid dealing with brokers. The main reason is that it is a very expensive service. Anyway you must prepare a contract. You must file the Contract for Sale and Purchase of Real Estate (No Broker). It is a complicated document that must be filled properly to acquire a legal value.
What is the Contract for?
Use the contract when you are going to buy or sell a residential lot or a property. As far as this document must be prepared without a broker, you must check the instructions as it might be difficult for you to do it right from the first try.
When is the Contract Due?
Generally, the contract does not have a specific deadline.
Do I Have to Attach Other Documents to the Contract?
Basically, the contract may be accompanied by the copy of the document that confirms the ownership of the property or your right to sell it.
What Information do I Include in the Contract?
First, the contract includes the agreement where the seller agrees to sell and the purchaser agrees to purchase a real estate. The next section is the sales price. You indicate the amount of the purchase price, a new loan, earnest money, cash at closing, the assumption of the loan, seller financing and a total amount. In this contract you must describe the property conditions: mechanical equipment and appliances, utilities, etc. Federal tax requirement is also included in the contract. These are the key details.
Where do I Send the Contract after Completion?
You must provide this contract to the client. Make sure it is prepared properly and does not include mistakes. Using filler, it is easy to perform.
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