Real Estate Purchase Agreement

A real estate purchase agreement can vary depending on the type of property being purchased and its location. It can either be made by a real estate lawyer or a reprinted form used by a real estate agent. In order to be legally binding, the document must be in writing and must contain important information about both parties involved. The contract usually states the full names of the buyers and the sellers, identifies the property (legal description) and its location as well as stipulates a purchase price and the terms of the sale if the transaction is not all cash. To be enforceable, both parties must affix their signatures on the contract.

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