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If you`re in the market for a new home, you`ll need to sign a real estate purchase contract to legally transfer ownership of the property from the seller to you. A real estate purchase contract outlines all the terms and conditions of the sale, including the purchase price, contingencies, and the closing date.
While it`s recommended that you hire a real estate attorney to help you draft a purchase contract, many online resources can provide you with a free printable real estate purchase contract. These templates can be customized to suit your needs and are an excellent starting point for your purchase contract.
Here`s everything you need to know about free printable real estate purchase contracts:
Why Use a Free Printable Real Estate Purchase Contract?
Using a free printable real estate purchase contract is a convenient and cost-effective way to draft a legally binding document. These templates come with pre-written clauses that you can modify as required to match your situation, allowing you to create a legally binding contract without paying for an attorney.
Moreover, a real estate purchase contract helps prevent misunderstandings, protects both parties from fraud, and ensures that the agreed-upon terms of the sale are executed. It also serves as evidence of ownership, minimizes future litigation, and can be used to obtain financing or refinancing.
Where to Find Free Printable Real Estate Purchase Contracts?
Several websites offer free printable real estate purchase contracts, including:
1. LawDepot: LawDepot provides customizable contracts for free. You can easily create a real estate purchase contract by answering a few questions online.
2. Rocket Lawyer: Rocket Lawyer offers a variety of legal documents, including free printable real estate purchase contracts. You can customize the template to fit your needs or create a new one from scratch.
3. TidyForm: TidyForm provides free and downloadable purchase contract templates for real estate transactions.
4. TemplateLab: TemplateLab offers a range of real estate purchase contracts that you can download and customize for free.
How to Customize a Free Printable Real Estate Purchase Contract?
Customizing a free printable real estate purchase contract is easy. Follow these steps:
1. Replace placeholders: First, replace any placeholder text in the template with your information, such as names, addresses, and purchase price.
2. Include contingencies: Next, add any contingencies that protect your interests. For example, you could add a contingency that allows you to back out of the contract if you can`t obtain financing.
3. Clarify terms: Clarify any terms in the contract that may be vague or unclear. For example, if the contract states “the property is sold as-is,” make sure you understand what that means.
4. Review and sign: Finally, review the contract with all parties involved to ensure accuracy and understanding. Once everyone agrees, sign the contract and have it notarized if necessary.
In conclusion, a real estate purchase contract is critical when buying a new home. While a real estate attorney can help you draft one, free printable real estate purchase contracts are a great starting point. Remember to customize the template to match your situation and to have all parties sign the document before the sale closes.
