When it comes to buying or selling a property, having a legally binding contract is crucial. A real estate purchase agreement outlines the terms and conditions of the transaction, protecting both parties involved. While some might think that hiring a lawyer to draft a purchase agreement is necessary, it`s possible to save that expense by finding a free simple real estate purchase agreement online.

First, it`s important to note that every state has different laws and regulations regarding real estate transactions. As such, it`s crucial to find a purchase agreement that complies with the laws of the state where the property is located. A quick online search for “free real estate purchase agreement [state name]” will yield plenty of results.

Once a suitable purchase agreement has been found, it`s important to carefully review the document before using it. While a free purchase agreement can be a valuable resource, it may not be tailored to the specific transaction at hand. It`s always a good idea to consult with a real estate attorney if there are any questions or concerns.

Some key sections that should be included in a real estate purchase agreement are:

– Purchase price: The agreed-upon price for the property.

– Closing date: The date when the transaction will be completed and ownership of the property will transfer.

– Contingencies: Any conditions that must be met in order for the transaction to move forward, such as a home inspection or loan approval.

– Earnest money: The amount of money that the buyer will provide upfront as a show of good faith.

– Property description: A description of the property being sold, including its address, legal description, and any relevant details about the land or buildings.

– Disclosures: Any known defects or issues with the property that the seller is required to disclose.

– Signatures: The signatures of both the buyer and the seller, as well as any witnesses or notaries required by law.

While a free simple real estate purchase agreement can be a great starting point, it`s important to remember that every transaction is unique. It`s always a good idea to have a real estate attorney review the purchase agreement before it is signed. Doing so can help ensure that both parties are protected and that the transaction goes smoothly.