The Agreement to Sell (Real Estate) serves as the primary legal instrument for real estate transactions in the United States. This document is essential when transferring ownership of real property, whether residential or commercial. It protects both parties' interests by clearly defining the terms of sale, including price, payment schedule, property condition, and closing requirements. The agreement must comply with federal regulations like RESPA and the Fair Housing Act, as well as state-specific real estate laws. It typically includes property descriptions, warranties, contingencies, and required disclosures.
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1. Parties: Identification and details of the seller and buyer
2. Background: Context of the transaction and property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property being sold including legal description, address, and boundaries
5. Purchase Price: Amount and payment terms, including deposit requirements and payment schedule
6. Closing Date: Date and conditions for closing, including requirements for completion
7. Title and Deed: Requirements for clear title and deed transfer, including title insurance provisions
8. Representations and Warranties: Statements of fact by both parties regarding property condition, ownership, and authority to sell
9. Default and Remedies: Consequences of breach by either party and available remedies
1. Financing Contingency: Terms related to buyer's ability to obtain mortgage financing and conditions for loan approval
2. Inspection Contingency: Terms related to property inspection rights, timelines, and repair negotiations
3. Tenant Rights: Provisions dealing with existing tenants, lease agreements, and possession requirements
4. Environmental Matters: Provisions regarding environmental inspections, hazardous materials, and compliance requirements
5. HOA Provisions: Terms related to homeowners association requirements, fees, and approvals
1. Schedule A - Property Description: Detailed legal description of property including lot number, boundaries, and survey details
2. Schedule B - Fixtures and Fittings: Comprehensive list of items included and excluded from the sale
3. Schedule C - Title Documents: Copies of relevant title documents, certificates, and searches
4. Schedule D - Property Disclosure Statement: Required disclosures about property condition, defects, and material facts
5. Schedule E - Due Diligence Documents: Property inspection reports, certificates, and other relevant documentation
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