Purchase agreements are legal contracts between a buyer and seller. For this reason, it's important to select the right PDFSimpli real estate purchase agreement for your needs.
That said, it's common for unsigned agreements to be used as part of negotiations, too. Once both parties agree on the details, they sign the contract and it becomes legally binding.
Real estate purchases often involve homes, but they can also cover commercial property, land, condominiums and other types of real estate. Generally, the buyer's agent prepares the real estate agreement with the initial offer, but knowledgeable homebuyers can make an offer independently, too. Sellers and seller's agents sometimes prepare a counteroffer using a purchase agreement of their own.
Real estate contracts contain a number of details, including the purchase price and property information. Include the name and contract details of the buyer and seller.
Mention any deposits, closing costs or financing requirements for the buyer or the seller. If there are contingencies for the sale, such as inspections or security deposits, include them, too. PDFSimpli's easy-to-use editing tools let you customize contract terms on the fly.
