Purchasing a real estate property is a good investment for anyone who has enough money. With every property purchase, an agreement is always the foundation of the partnership between the buyer and seller. If you need a template collection to help you in writing such agreements, our Real Estate Agreement Templates are the best for you! Each template is 100% editable and customizable. These contain original content, fonts, and artwork that help you write an agreement within a few minutes. Get the best deals now by subscribing to our website!
How to Write a Real Estate Agreement?
A real estate agreement is a legally-binding document that buyers and sellers sign when purchasing a property. This type of agreement outlines the terms and rights of both parties and functions as a contract. Statista said that by 2020, the number of home properties sold in the US is expected to rise to 6.12 million. Of course, this transaction does not proceed without any agreement on hand. If you need tips in writing a real estate agreement, read our tips below.
1. Identify the Parties
The very first thing that you should write on your agreement are the names of the buyer and seller. It's also important to specify if the property being purchased is residential or commercial.
2. State Property Details, Prices, and Terms
Write about the property's size in square meters, its price, and the terms of the contract. The buyer must know how much the property costs and the rules while the contract is effective. Payment options are also stated along with the price of the property.
3. Specify Termination Clause
The termination clause serves as an option if either party wants to end the agreement ahead of time. Provide some rules for early termination. Make sure that it doesn't harm both parties the moment it is carried out.
4. Provide an Expiration Date
An expiration date can be included in case the buyer or seller doesn't accept the agreement. If either party accepts the agreement, it must be communicated through writing.
5. Give a Date for Property Acquisition
Provide a date for the buyer to acquire the property. This is an essential piece of information that should be present in all agreements.
