Residential real estate purchase contract

Residential real estate purchase contract

Download the Residential real estate purchase contract here: Download Contract

The real estate purchase contract is straight-forward and lists legal aspects of your property. The most difficult factor will be 'conditions for purchasing' since most interested home buyers will require various conditions including:

Conditional on financing - The buyer may require time to setup their mortgage which can take 10 days or less to obtain their mortgage. If your contract specifies 10 days to receive payment for your home sale and no funds have been received in the allotted time period, then your contract is void and your home becomes listed back on the market.
Conditional on home inspection - A home inspection is common in real estate sales and may be required for buyers mortgage. It will be necessary to allow time to have a home inspector come and evaluate the home. The home inspector will advise the buyer of any problems or potential problem they have found. The buyer will either decide to waive the home inspection contract clause and proceed to purchase or to back out of the contract based on the home inspector's assessment.

It is highly advised to contact your lawyer if you have any questions regarding the offer to purchase contract.