This is a generic form for the sale of residential real estate. Please check your state=s law regarding the sale of residential real estate to insure that no deletions or additions need to be made to the form. This form has a contingency that the Buyers= mortgage loan be approved. A possible cap is placed on the amount of closing costs that the Sellers will have to pay. Buyers represent that they have inspected and examined the property and all improvements and accept the property in its "as is" and present condition.
The Idaho Agreement for the Sale and Purchase of Residential Real Estate is a legally binding contract that outlines the terms and conditions of a real estate transaction between a buyer and a seller in the state of Idaho, United States. This agreement is specifically designed for residential properties, which include single-family homes, townhouses, condominiums, and residential land. The Idaho Agreement for the Sale and Purchase of Residential Real Estate typically includes the following provisions: 1. Parties: This section identifies the buyer and seller by their legal names, contact information, and signatures. It also includes any authorized representatives, such as real estate agents or attorneys. 2. Property Details: It contains a detailed description of the residential real estate being sold, including the address, legal description, and any fixtures or personal property included in the sale. 3. Purchase Price and Financing: This section outlines the agreed-upon purchase price and the currency in which it will be paid. It also addresses the buyer's financing arrangements, such as cash or mortgage financing. 4. Earnest Money: The agreement specifies the amount of earnest money the buyer will deposit as a sign of their good faith intention to proceed with the purchase. It also outlines the conditions under which the earnest money may be forfeited or refunded. 5. Contingencies: This part includes provisions for contingencies or conditions that must be met for the sale to proceed. Common contingencies include home inspections, appraisal, financing, and the sale of the buyer's current property. 6. Closing and Possession: It outlines the estimated closing date and the party responsible for paying certain closing costs, such as title insurance, recording fees, and transfer taxes. The agreement also specifies the possession date, which indicates when the buyer will take legal possession of the property. 7. Disclosures: This section requires the seller to disclose any known defects or issues with the property, including past repairs, environmental hazards, or boundary line disputes. 8. Due Diligence: It allows the buyer a specific period to perform due diligence, such as conducting home inspections, reviewing homeowners association documents, or examining property records. 9. Default and Remedies: This part outlines the consequences for breach of contract by either party, including the rights to seek legal remedies or terminate the agreement. It is important to note that while there may not be specific types of Idaho Agreements for the Sale and Purchase of Residential Real Estate, there might be variations or additional addendums to address specific circumstances. For instance, there could be separate agreements for new construction homes, foreclosure properties, or short sales. These variations typically address unique aspects of the transaction or legal requirements associated with those types of properties.
The Idaho Agreement for the Sale and Purchase of Residential Real Estate is a legally binding contract that outlines the terms and conditions of a real estate transaction between a buyer and a seller in the state of Idaho, United States. This agreement is specifically designed for residential properties, which include single-family homes, townhouses, condominiums, and residential land. The Idaho Agreement for the Sale and Purchase of Residential Real Estate typically includes the following provisions: 1. Parties: This section identifies the buyer and seller by their legal names, contact information, and signatures. It also includes any authorized representatives, such as real estate agents or attorneys. 2. Property Details: It contains a detailed description of the residential real estate being sold, including the address, legal description, and any fixtures or personal property included in the sale. 3. Purchase Price and Financing: This section outlines the agreed-upon purchase price and the currency in which it will be paid. It also addresses the buyer's financing arrangements, such as cash or mortgage financing. 4. Earnest Money: The agreement specifies the amount of earnest money the buyer will deposit as a sign of their good faith intention to proceed with the purchase. It also outlines the conditions under which the earnest money may be forfeited or refunded. 5. Contingencies: This part includes provisions for contingencies or conditions that must be met for the sale to proceed. Common contingencies include home inspections, appraisal, financing, and the sale of the buyer's current property. 6. Closing and Possession: It outlines the estimated closing date and the party responsible for paying certain closing costs, such as title insurance, recording fees, and transfer taxes. The agreement also specifies the possession date, which indicates when the buyer will take legal possession of the property. 7. Disclosures: This section requires the seller to disclose any known defects or issues with the property, including past repairs, environmental hazards, or boundary line disputes. 8. Due Diligence: It allows the buyer a specific period to perform due diligence, such as conducting home inspections, reviewing homeowners association documents, or examining property records. 9. Default and Remedies: This part outlines the consequences for breach of contract by either party, including the rights to seek legal remedies or terminate the agreement. It is important to note that while there may not be specific types of Idaho Agreements for the Sale and Purchase of Residential Real Estate, there might be variations or additional addendums to address specific circumstances. For instance, there could be separate agreements for new construction homes, foreclosure properties, or short sales. These variations typically address unique aspects of the transaction or legal requirements associated with those types of properties.
