The Agreement To Sell Real Estate Contract is a fundamental document in U.S. real estate transactions, used when transferring property ownership from seller to buyer. This contract is essential for both residential and commercial property transactions, providing a comprehensive framework that protects all parties' interests while ensuring compliance with applicable state and federal regulations. It includes crucial elements such as property description, purchase price, closing conditions, contingencies, and required disclosures. The document must adhere to state-specific real estate laws and federal requirements, making it a critical tool for establishing legally binding terms of sale.
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1. Parties: Identification of seller and buyer with full legal names and addresses
2. Background: Context of the transaction and property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed legal description of the property being sold, including address, boundaries, and parcel numbers
5. Purchase Price: Amount and payment terms, including deposit requirements and payment schedule
6. Closing Date: Specified date for completion of the transaction and transfer of ownership
7. Title Requirements: Conditions for clear title transfer and title insurance requirements
8. Representations and Warranties: Statements of fact by both parties regarding the property and their capacity to enter into the agreement
9. Default and Remedies: Consequences of breach by either party and available remedies
10. Governing Law: Specification of applicable state law and jurisdiction
1. Financing Contingency: Terms and conditions if purchase depends on buyer obtaining mortgage financing
2. Inspection Contingency: Terms for property inspection period and resolution of identified issues
3. Sale Contingency: Conditions if purchase depends on buyer selling their existing property
4. Lead-Based Paint Disclosure: Required for properties built before 1978, detailing known lead-based paint hazards
5. Rent-Back Agreement: Terms allowing seller to temporarily rent the property after closing
1. Schedule A - Property Inventory: Detailed list of included fixtures, appliances, and personal property
2. Schedule B - Title Documents: Copies of relevant title documents, surveys, and property plans
3. Schedule C - Disclosure Statements: Required state and federal disclosure forms including property condition disclosure
4. Schedule D - Environmental Reports: Environmental assessment documents and related certificates
5. Schedule E - Permits and Certificates: Copies of relevant building permits, certificates of occupancy, and compliance documents
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