YOU'RE ONLY FOUR EASY STEPS FROM GETTING YOUR CUSTOMIZED REAL ESTATE PURCHASE CONTRACT

1. In the table below, enter the information specific to your transaction.
2. Use your credit card to pay $14.95 for the custom-tailored Contract.
3. Print the Contract that is immediately emailed to you.
4. Have both parties sign the contract. Breathe a sigh of relief--you have the terms of your agreement in writing!

Below are the descriptions of the information we need from you.	Give us your information in the boxes below.	Below is helpful information to quickly guide you through this process.
*Denotes Required Information Information About The Parties And The Contract
Enter the full name of the seller of the property:		Tell me about the seller.
Enter the full name of the second seller of the property (if any):		Leave this field blank if there is not another seller.
Enter the full name of the buyer of the property:		Tell me about the buyer.
Enter the full name of the second buyer of the property (if any):		Leave this field blank if there is not another seller.
Enter the street address of the property being sold:		Enter the address like this: 7822 E. Maple Dr.
Enter the city of the property being sold:
Select the state of the property being sold:	Select A State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
Enter the county of the property being sold:		Note: this is asking for COUNTY not COUNTRY.
Enter the legal description of the property being sold:		Tell me about the legal description.
Select how the property size is measured:	Acres Square Feet	Tell me about the property size options.
Enter the approximate size of the property in acres:
Enter the earnest deposit amount the buyer is required to make:	$	Tell me about the earnest deposit Do NOT enter the dollar sign, we will add that for you.
Enter the total purchase price of the property being sold:	$	Tell me about the total purchase price Do NOT enter the dollar sign, we will add that for you.
Select how the buyer will pay the total purchase price to the seller at closing:	In Full At Closing Seller Financed	Tell me about the differences of these options.
Enter the down payment amount the buyer is required to pay the seller: $ Enter (0.00) if there will be no downpayment required Do NOT enter the dollar sign, we will add that for you. Select the payment agreement type the seller will use to aquire the balance of the purchase price: Monthly Installments Promissory Note   Enter the number of months the buyer has to repay the seller pursuant to the payment agreement: Enter the months as a number. Ex: 10 years would be 120 months Enter the interest rate that will be included in the payment agreement: % Enter rate as a number. Ex: 7.5 Do NOT include the percent sign, we will add that for you.
Select the type of deed the seller will use to transfer the title of the property:	Quit Claim Deed Warranty Deed	Tell me about the differences of these options.
Select whether or not the seller must provide title insurance:	No Yes	Tell me about title insurance.
Select any contingencies that should be included in the contract:	Contingent On Funding: Title Insurance Contingency: Inspection Contingency: Other Contingency:	Tell me about the contingencies. Click the names of the contingencies to learn more about them.
Enter the other contingencies:		Tell me about how to enter contingencies.
Enter the closing date:		Tell me about the closing date. Enter the date in this format MM/DD/YYYY
Select whether or not you want to include any special provisions in the contract:	No Yes	Tell me about special provisions.
Enter the special provisions:		Tell me about how to enter special provisions.
Select whether or not you want to write any inclusions into the contract:	No Yes	Tell me about inclusions.
Enter the inclusions:		Tell me about how to enter inclusions.
Select whether or not you want to write any exclusions into the contract:	No Yes	Tell me about exclusions.
Enter the exclusions:		Tell me about how to enter exclusions.

Buyer of the Property:

In these boxes you should enter the full names of up to two purchasers of the property. If you have more than two buyers, contact us; we'll help change the document to accommodate your unique circumstances.

Seller of the Property:

The seller of the property is also the owner. You should type in the full name of the owner. If there are two owners, as is common with a husband and wife who jointly own a personal residence, type the second owner's name in the second box; otherwise, leave the second box blank. If you have more than two owners/sellers, contact us; we'll help get your document to accommodate the additional sellers.

Legal Description of the Property:

The legal description of the property is how the property is formally identified in governmental records such as those at the county recorder's or assessor's office. You can obtain the legal description of the property by reading it from the deed. If you don't have a copy of the deed handy, you can usually get a copy by calling the county recorder's office where the property is situated and telling the clerk the street address or current owner of the property. Often the clerk will simply read the legal description to you right over the phone if the description isn't too long. Still, it's always best to verify the legal description by double checking it against what is written on the deed.

If you have a copy of the deed, you may also see a tax identification or parcel number just above or below the legal description. It's helpful to include that number along with the legal description because using that number is an easy way to look up the property in county records.

The legal description is also sometimes called the "metes and bounds" description. The legal description is NOT the same as the street address.

How to Measure the Property Size:

Real estate can be measured either in acres or square feet. A parcel of land with or without a home or other building is usually measured in acres. A condominium or apartment, however, usually does not include land and is better measured by the square feet of the floor plan. Sometimes the size of the property in either acres or square feet is listed on the deed; sometimes you can find this number in a previous sales contract on the property.

By entering the size of the property here neither the buyer nor seller is certifying or relying on that number as the EXACT size of the property being conveyed. Instead, the contract you will generate uses this number as a rough approximation of the properties' size. It's important to put at least a ballpark size in the contract so both parties are on the same page about what is being conveyed. Without an approximate size of the property, the buyer could mistakenly believe the seller is including an additional four acres behind the house as part of the sale.

Earnest Money Deposit:

Earnest Money deposits are a good way for the buyer to signal that he or she is serious about purchasing the property, which in turn makes the seller more likely to accept the buyer's offer. The seller knows the buyer is serious because the buyer risks forfeiting the earnest money in certain circumstance if he or she fails to follow through on the purchase or other obligations under required under the contract.

The Earnest Money deposit should be large enough to make the seller feel that accepting the Earnest Money in lieu of a failed purchase was worth the time spent with that particular buyer. A general rule of thumb is to make an earnest money deposit equal to 1% of the purchase price for the property.

Note: The buyer will not always forfeit the earnest money to the seller if the purchase doesn't go through. The earnest money is only forfeited to the seller if the buyer fails to perform an obligation required of him or her under the contract. In some cases, however, the purchase doesn't go through because a pre-agreed contingency wasn't met (such as if the house doesn't pass inspection or the buyer can't get financing). In those cases, the earnest money is returned to the buyer.

If the purchase goes through to Closing, the earnest money will be counted as part of the payment toward the total purchase price.

Purchase Price:

The purchase price is the total amount the buyer will pay the seller for the property. The purchase price does not include any closing costs or third party fees.

Payment Of Purchase Price Options:

Paying the Purchase Price in Full at Closing:

Selecting this option means the buyer is going to pay the entire purchase price in cash or certified funds to the seller at closing. If the buyer does not personally have the funds available to pay the full purchase price, then the buyer will have to qualify and borrow funds from a third party lender before the closing.

Do not select this option if the buyer is going to make payments on the house directly to the seller. If this is your agreement, then you should select seller financed instead.

Seller Financed Purchase:

A seller-financed purchase means the buyer is going to make payments on the purchase of the home directly to the seller rather than to a third party lender such as a mortgage company. In the Real Estate Purchase Contract, the buyer and seller agree how the buyer will make these payments to the seller. There are two options to choose from, which are described below:

Monthly Installments: In most arrangements, the buyer agrees to make routine monthly payments to the seller just as is typically done with a mortgage company. Part of the monthly payment goes toward paying down the purchase price (the principal) and part of the payment is used for interest. There may also be an additional portion of the monthly payment that is put into escrow to pay the property taxes and insurance each year.

Promissory Note: Although it is less common, sometimes a buyer will agree to make one lump sum payment for the property at a later time. For this arrangement the buyer signs a promissory note setting forth how long he or she has to repay the note and at what rate the unpaid balance accrues interest.

The information you enter here will form the basis of other documents the buyer and seller will sign at closing. For example, if the buyer agrees to make monthly payments on the property at a certain interest rate, the buyer will have to later sign an installment payment agreement obligating him or her to make those payments; the real estate purchase agreement is not itself an installment payment agreement. Instead, it serves to record when and what terms the buyer and seller will actually pay for the property and sign the deed.

Quit Claim or Warranty Deed:

The "deed" is the document that actually transfers the title to the property. It is usually a very simple document that says the seller of the property, called the "Grantor" is transferring the property to the buyer, who is referred to as the "Grantee." The deed must contain a legal description of the property. After the deed is signed and notarized, it must be recorded in the office of the county recorder where the property is situated.

There are two type of deeds that are most commonly used in real estate transfers. One is the "Warranty Deed." When a seller signs a warranty deed, he or she is essentially making a promise or guarantee that he or she owns the property and is conveying good and marketable title to the seller.

The other type of deed is called a "Quit Claim" deed (often mistakenly referred to as "Quick Claim"). A quit claim deed simply transfers whatever the seller owns. The seller makes no promises that he or she has an unencumbered interest in the property or even that the seller owns the property. When a seller conveys title using a quit claim, he or she is basically saying to the buyer, "I'm giving you all my legal interests in this property, but I'm not promising that I have any legal interests at all."

In order to make sure the buyer is receiving good title to the property, the buyer will often insist that the seller provide title insurance policy.

Many people mistakenly believe that the Real Estate Purchase Contract ("REPC") is the document that transfers title to real property, but this is not correct. Instead, the REPC just lays the groundwork leading up to the closing, at which the buyer gives the money to the seller and the seller signs the deed to the property over to the buyer.

Contingencies:

A contingency in a contract means there is some condition that must be met before the purchase goes all the way through to closing. For example, a loan contingency in a real estate purchase contract usually means that even though the buyer and sell have signed the contract, the buyer won't be required to go through with the purchase if he or she is unable to qualify for a loan. Click on the individual contingencies types to learn more about each one and choose whether to include it in your agreement.

Contingent on Funding:

This contingency makes the closing conditional on the buyer's ability to qualify for a loan in an amount sufficient to pay the full purchase price. The buyer must use his or her best efforts to apply for, qualify for, and obtain the loan, but if the buyer still cannot obtain the loan then the earnest money deposit, if any, is returned to buyer and the sale is mutually cancelled.

Title Insurance Contingency:

Including this contingency in the contract will require the seller to use his or her best efforts to obtain a title insurance policy on the property before closing. If the seller cannot obtain such a policy then the sale is mutually revoked and the earnest money, if any, is returned to the buyer.

Inspection Contingency:

Including this contingency in the contract makes the sale conditional on the buyer's ability to access and inspect the property and find it to his or her full satisfaction. If the buyer finds anything he or she doesn't like about the property, the buyer can cancel the contract by delivering written notice to the seller at least seven days before the closing.

This contingency does not place any restrictions on what the buyer can object to, so including this contingency in the contract is akin to giving the buyer a unilateral right to rescind the contract up to seven days before closing.

Other Contingencies:

Use this optional field to insert your own special contingencies that aren't already listed as options. If you check this box, you'll be prompted to enter a specific description of the contingency or contingencies you would like inserted in your contract. You should describe the contingencies with as much detail as possible to answer these questions:

1. Who is required to take an action? (e.g.: seller)
2. What is the actor required to do? (e.g.: obtain written zoning approval to use property as a daycare)
3. What is the deadline for the actor to complete his or her action? (e.g. ten days before closing)
4. What happens if the actor doesn't meet the deadline? (e.g.: buyer may use its option cancel the contract and have the earnest money returned)

The foregoing sample information should be written into the form in this manner: Seller must obtain written zoning approval to use the Property as a daycare at least ten days before closing. If Seller fails, Buyer may at its option cancel the contract and retain the earnest money deposit.

Closing Date:

The closing date is the date on which the closing will be held. You should choose a date far enough away to give both parties sufficient time after signing the real estate purchase contract to do whatever the contract requires of them before the closing date. Typically, most parties choose a closing date 30-45 days after signing the real estate purchase contract.

Special Provisions:

In this section you should describe any unique or unusual parts of your agreement that probably aren't part of our standard form. For example, you may wish to state that the Buyer and Seller have agreed to use ABC Title Company for their Closing. Another example of a special provision would be that the Seller agrees to pay a 3% commission to Buyer's real estate agent at Closing.

These are just few examples. Use the special provisions option to enter your own custom provisions and insure that your entire agreement is in writing. If there are no special provisions, just select “no” in response to the special provision option and your real estate purchase agreement will be governed by the most common provisions already included in our standard form.

If you decide to include special provisions in your agreement, just select “yes” in response to the special provision option and describe the provisions in the box that appears. The provisions you describe will be automatically inserted into your document and become binding. Describe the provisions in the form of short declarative sentences and make sure your description answers these basic questions:

1. Who is agreeing to something? (e.g.: Buyer or Seller or both parties?)
2. What are they agreeing to? (e.g.: Parties agree to use ABC Title Company to close the transaction and split the Title Company's costs.)
3. When are they agreeing to do it? (e.g.: At the Closing.)
4. What happens if one or both parties fails to do it? (e.g.: Either party failing to pay its share of closing costs shall incur a $150 late fee to the other party plus interest on the unpaid amount at 18% until paid in full).

Using the above sample information, a special provision could be typed into the on line form like this: "Buyer and Seller agree to use ABC Title Company to close the sale of the Property and to each pay one half the title company's fees at closing. Either party failing to pay its share of the title company's fees shall incur a $150 late fee payable to the other party as well as a interest at the rate of 18% until the total fee is paid in full."

NOTE: Whatever special provisions you write in will supersede any other conflicting provisions in your agreement.

Inclusions:

An "inclusion" means an item of property that is included with the sale. Most real property sales automatically include all "fixtures", which in plain English means anything which is permanently affixed to the land. A fixture includes buildings and everything screwed, nailed or otherwise attached to the building. For example, the sinks, water heaters, windows and shelves in a house are all considered fixtures even though they could all be removed with a little work. Dishes, cleaning implements, clothing, throw rugs and tools, however, would not be considered fixtures and normally would not be included in the sale of the property.

A good rule of thumb when deciding whether something is a fixture is to ask yourself whether you could just pick the item up and walk out of the house with it. If you can--because it's not attached to anything--it's probably not a fixture and wouldn't be included with the sale of the real property. Appliances are a gray area; the refrigerator, washer and dryer can all be unplugged and hauled out of the house, but the stove and dishwasher are attached. Other items, like a free-standing fireplace mantel, are also in the gray area.

To avoid confusion about which questionable items are fixtures, you should specify which items are intended to be inclusions. You should also specify items that are clearly NOT fixtures (such as a throw rug) but which the the parties agree will be included with the sale. To include specific items, simply write them into the box in our online form and they will all be listed as inclusions in your contract.

Exclusions:

Exclusions are the opposite of inclusions; an "exclusion" means an item of property that is not included in the sale of the property. If the buyer and seller agree that certain items on the property will not be included in the sale, even though such items may be fixtures, those items should be specifically listed so there is no confusion among the parties.

To list exclusions in your sale, simply type each excluded item in the online form. All those items will be listed in the contract.

Title Insurance:

Title insurance is like any other policy of insurance, such as a policy insuring a vehicle owner against the risk of damage or theft. In real estate sales, one of the big risks is that the seller does not have good, marketable title to the property. This can happen through a mistake in the legal description, an error in the recorder's office, or some other problem that neither the buyer nor the seller is aware of. Often these kinds of errors are the result of a mistake in the chain of title that occurred many years before the current buyer and seller ever became involved in the property.

Unfortunately, in the worst cases, it is possible for a court to determine that neither the buyer nor the seller have a valid legal interest in the property. Although this is extremely rare, such a ruling would be financially devastating for most home buyers because they could lose both the real property and all the money they invested to purchase it. To help protect against that risk, many buyers require the seller to provide a policy of title insurance insuring that the title to the property is good and that the seller is the lawful owner. Before issuing such a policy, a title insurance company will thoroughly research the chain of title to be reasonably certain that the seller does indeed have good title to the property.

Designated Duties:

Summarize what the employee's assigned duties or tasks will be as your employee.

Examples of how you could describe a particular positions duties:

Paralegal- perform legal research, meet with clients, and assist attorneys as needed.

Reporter- perform necessary research, conduct interviews, and meet assigned deadlines.