A purchase agreement made between a buyer and a seller. These Residential Purchase Agreement may only use for residential properties which already completed. A residential purchase agreement includes Buyer’s name, Seller’s name, Property address or description, Purchase price, Earnest money, closing, expiration and possession date, Items included or excluded, Closing costs, Prorations, taxes and assessments, Home protection plans, Special stipulations, Time of essence, Fair housing and equal opportunity, Loan and appraisal contingencies, Inspection contingency and due diligence period.
Buyer’s right to reinstate, Final inspection and risk of loss, Disbursement of earnest money and adequate consideration, Title, deed and seller representation, Default of breach, Real-Estate commissions, Addenda, attachments, exhibits, disclaimers and disclosures, Method of execution and delivery, Acceptance date and binding contract and Offer expiration date and time. All these features together form a residential agreement and both buyer and seller must follow these rules and regulations before purchasing a real-estate.
