Every real estate purchase contract should be in writing. This includes the deed and/or release of risks. A template for this is available from a variety of sources on the Internet.
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The types of Real Estate Purchase Contracts that could be used include the summary of the contract and the summary of material facts. However, a recent case arose in Connecticut in which a notary failed to deliver a certificate of completion of the Real Estate Purchase Contract. The notary failed to make it appear that the contract was incomplete. She was charged with forgery.
This case highlights the importance of the Real Estate Purchase Contract and how it must be in writing. If it is not, then you could be subject to some serious consequences. You could be found guilty of fraud, you could be penalized and if there is any chance that you sold the property or the contract to an unlicensed agent, then you may be subjected to a civil suit. This can result in hefty fines and jail time.
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A good Real Estate Purchase Contract template should have all of the information included in it in full. This includes title, deed, description, transfers, inspections, appraisals, and signatures. It should also include a schedule of stipulations that must be complied with by the buyer. These stipulations could include notaries’ fees, insurance premiums, transfer taxes, and several other fee components.
When looking for a template for a Real Estate Purchase Contract, look for a company that offers it online. This will save you the trouble of having to go to a company in person, then fill out the form at the location where you will be signing the contract.
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You can get the information about templates for RealEstate Purchase Contracts online, but not all of them are easy to read and decipher. Therefore, do your research before you buy and get a template that is easy to understand. Some web sites offer only one template that they offer for sale; others have many different templates that are not all the same.
Another important item in the Real Estate Purchase Contract is a date by which the seller will deliver the property to the buyer. In many instances, buyers want the property within a very short period. The sale may be final on the date set for delivery, or it may take a bit longer.
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If a deal is close to being finalized, the seller will want to show the Real Estate Purchase Contract to the buyer. Sometimes, this can involve a visit to the seller’s house. In those cases, it is important to have a template for the Real Estate Purchase Contract in place so that you will be able to read the document without any difficulty.
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