Real Estate Purchase Agreement (Residential)
Home purchase contract defining sale terms, financing contingencies, inspection procedures, and closing requirements for residential property transactions between buyers and sellers.
Key Clauses
Whereas
Establishes parties' intention to complete residential property purchase and sale transaction.
Property Description
Provides detailed description of residential property including legal description and included fixtures.
Purchase Price And Payment
Defines total purchase price, earnest money deposit, and down payment requirements.
Financing Contingency
Protects buyer if unable to obtain required financing within specified timeframe.
Closing
Establishes closing date, location, and procedures for transferring ownership and funds.
Title And Survey
Requires clear title verification and survey to confirm property boundaries and conditions.
Use This Template
When You Need This
- Buying first home or upgrading to larger residential property
- Purchasing investment property for rental income or resale
- Acquiring vacation home or second residence for personal use
- Relocating to new area requiring home purchase in different market