Free Real Estate Purchase & Sale Agreemnt

A real estate purchase and sale agreement serves as a legally binding contract outlining the terms and conditions of a transaction between a buyer and a seller. It helps wholesalers by:

1. Defining the property details: It clearly identifies the property being sold, including its address, legal description, and any relevant details.
2. Outlining the purchase price: The agreement specifies the agreed-upon purchase price for the property, along with any deposit or earnest money paid by the buyer.
3. Setting forth contingencies: Contingencies protect both parties by outlining conditions that must be met for the sale to proceed, such as inspections, financing, or the sale of another property.
4. Establishing the closing date: The agreement includes a closing date, which is the deadline for completing the sale and transferring ownership of the property.
5. Clarifying responsibilities: It delineates the responsibilities of both the buyer and the seller regarding repairs, closing costs, and any other relevant terms of the sale.

In essence, a real estate purchase and sale agreement provides clarity, protection, and a framework for a smooth transaction between wholesalers, buyers, and sellers.