Real Estate Sales Contract Form for the United States

Real Estate Sales Contract Form Template for United States

A Real Estate Sales Contract Form is a legally binding document used in the United States to formalize the purchase and sale of real property. It outlines the terms and conditions of the transaction, including property details, purchase price, contingencies, and closing requirements. The document must comply with both federal regulations and state-specific real estate laws, making it essential to use forms that are appropriate for the jurisdiction where the property is located.

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What is a Real Estate Sales Contract Form?

The Real Estate Sales Contract Form serves as the primary document governing property transactions in the United States. This contract type is essential for any real estate purchase or sale, providing a comprehensive framework that protects both buyers and sellers. It includes crucial details such as property description, purchase price, contingencies, and closing requirements, while ensuring compliance with state and federal regulations. The document is particularly important as real estate transactions must be in writing under the Statute of Frauds, and the form helps ensure all necessary elements are properly documented.

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

1. Parties: Identification of buyer and seller with full legal names and addresses

2. Background: Brief context of the transaction and property details

3. Definitions: Key terms used throughout the contract

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

5. Purchase Price: Amount and payment terms including deposits and financing

6. Closing Terms: Date, location, and requirements for closing

7. Representations and Warranties: Standard declarations by both parties regarding property condition and ownership

8. Default Provisions: Consequences of breach by either party

9. Signatures: Execution block for all parties

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

1. Financing Contingency: Terms for buyer's loan approval - include when buyer requires mortgage financing

2. Inspection Contingency: Terms for property inspection and responses - include when buyer wants inspection rights

3. HOA Provisions: Terms relating to homeowners association - include when property is part of an HOA

4. Lead-Based Paint Disclosure: Federal requirement for pre-1978 properties - include for residential properties built before 1978

5. Short Sale Provisions: Special terms for short sales - include when property is being sold for less than mortgage balance

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

1. Property Disclosure Statement: Seller's detailed disclosure of property condition and known defects

2. Title Report: Current title status and any encumbrances

3. Property Survey: Professional survey showing property boundaries and features

4. Inventory of Included Items: List of personal property included in sale

5. Environmental Reports: Any environmental assessments or reports

6. HOA Documents: Relevant HOA rules, regulations, and financial statements

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

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Residential Real Estate
Commercial Real Estate
Industrial Real Estate
Agricultural Real Estate

Relevant Teams

Real Estate
Legal
Finance
Compliance
Operations

Relevant Roles

Real Estate Agent
Real Estate Broker
Property Manager
Title Officer
Real Estate Attorney
Escrow Officer
Compliance Officer

Industries

Truth in Lending Act (TILA): Federal law requiring disclosure of credit terms and standardizing how costs associated with borrowing are calculated and disclosed

Real Estate Settlement Procedures Act (RESPA): Federal law requiring lenders, mortgage brokers, and servicers to provide disclosures regarding real estate transactions and settlement services

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

Interstate Land Sales Full Disclosure Act: Federal law protecting consumers from fraud and abuse in the sale of land, requiring developers to disclose information to potential buyers

Foreign Investment in Real Property Tax Act (FIRPTA): Federal law imposing income tax on foreign persons disposing of U.S. real estate interests

State Real Estate Laws: Specific state-level regulations governing real estate transactions, licensing, and property rights within the state jurisdiction

State Property Laws: Laws governing property rights, ownership, and transfers specific to each state

State Contract Laws: State-specific laws governing formation and enforcement of contracts, including real estate contracts

State Disclosure Requirements: State-mandated disclosures about property condition, hazards, and other material facts that must be provided to buyers

State Recording Requirements: State laws governing how real estate documents must be recorded and notarized

Statute of Frauds: Legal principle requiring real estate contracts to be in writing to be enforceable

Local Zoning Laws: Municipal regulations governing property use, development, and restrictions

HOA Regulations: Rules and restrictions imposed by Homeowners Associations affecting property use and transfer

Environmental Regulations: Federal and state laws governing environmental protection, including wetlands, hazardous materials, and conservation

Building Codes: Local and state regulations governing construction standards and property modifications

Property Tax Laws: Federal, state, and local laws governing taxation of real property and property transfers

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Download a Standard Template

What is a Real Estate Sales Contract Form?

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

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

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

Authors

Alex Denne

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