Real Estate Contract Form for the United States

Real Estate Contract Form Template for United States

A Real Estate Contract Form is a legally binding document used in the United States for the purchase and sale of real property. This document outlines the terms and conditions of the property transfer, including purchase price, closing date, contingencies, and obligations of both parties. It complies with federal regulations such as the Fair Housing Act and RESPA, while also adhering to state-specific real estate laws and local requirements.

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What is a Real Estate Contract Form?

The Real Estate Contract Form serves as the foundational document for property transactions in the United States. It is essential when transferring ownership of real property, whether residential or commercial. This contract type includes crucial elements such as property description, purchase price, closing terms, contingencies, and representations from both parties. It must comply with both federal regulations (such as Fair Housing Act and RESPA) and state-specific real estate laws. The form is designed to protect both buyers and sellers while ensuring a clear and legally compliant transaction process.

What sections should be included in a Real Estate Contract Form?

1. Parties: Identifies all parties involved in the transaction, including legal names and addresses

2. Background/Recitals: States the intent of the parties and basic context of the transaction

3. Definitions: Defines key terms used throughout the contract

4. Property Description: Detailed legal description of the property being transferred

5. Purchase Price: States the agreed purchase price and payment terms

6. Closing Date: Specifies when the transaction will be completed

7. Title and Deed: Details regarding property title transfer and type of deed

8. Representations and Warranties: Statements of fact by both parties about the property and transaction

9. Default and Remedies: Consequences of contract breach and available remedies

10. Signatures: Execution block for all parties

What sections are optional to include in a Real Estate Contract Form?

1. Financing Contingency: Used when buyer needs to secure mortgage financing - include when purchase depends on buyer obtaining financing

2. Inspection Contingency: Buyer's right to inspect property - include when buyer wants right to inspect before finalizing

3. Sale Contingency: Makes purchase contingent on buyer selling existing property - include when buyer needs to sell current property first

4. Tenant Rights: Addresses existing tenant situations - include when property is currently tenant-occupied

What schedules should be included in a Real Estate Contract Form?

1. Property Schedule: Detailed inventory of included fixtures and fittings

2. Title Documents: Copies of relevant title documents and searches

3. Property Disclosure Statement: Seller's disclosure of property condition and known issues

4. Environmental Reports: Any environmental assessments or reports

5. Survey Documents: Property surveys and related documentation

6. HOA Documents: Homeowners Association rules and regulations if applicable

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

United States

Publisher

Genie AI

Cost

Free to use
Relevant legal definitions
Industries

Fair Housing Act: Federal law prohibiting discrimination in real estate transactions based on race, color, religion, sex, national origin, familial status, or disability

Truth in Lending Act (TILA): Federal regulation requiring disclosure of credit terms and costs in real estate transactions involving financing

Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes, requiring specific disclosures about real estate transactions and prohibiting certain practices

Interstate Land Sales Full Disclosure Act: Federal law requiring developers to disclose information to potential buyers about lots in large subdivisions

Americans with Disabilities Act: Federal law ensuring accessibility requirements are met in certain real estate contexts

State Property Laws: State-specific regulations governing property rights, transfers, and obligations

State Real Estate Licensing Laws: Regulations governing real estate professionals' qualifications and conduct in the state

State Disclosure Requirements: State-mandated disclosures about property condition, defects, and other material facts

State Recording Statutes: Laws governing how property records must be documented and filed in the state

State Environmental Regulations: State-specific environmental protection requirements affecting real estate transactions

Statute of Frauds: Common law requirement that real estate contracts must be in writing to be enforceable

Contract Formation Requirements: Legal principles requiring offer, acceptance, and consideration for valid contract formation

Property Rights and Easements: Legal framework governing property ownership rights and permitted uses

Title Requirements: Legal standards for establishing and transferring clear property ownership

Local Zoning Laws: Municipal regulations controlling property use and development

Building Codes: Local and state regulations governing construction and building safety standards

HOA Regulations: Rules and restrictions imposed by Homeowners Associations on properties within their jurisdiction

Historic Preservation Requirements: Regulations protecting historically significant properties and districts

Property Tax Laws: Federal, state, and local tax regulations affecting real estate transactions and ownership

Lead-Based Paint Disclosures: Federal requirements for disclosure of lead-based paint hazards in properties built before 1978

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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