Example Contract to Purchase Real Estate

General Real Estate Investing
1

Does this contract that i drew up to buy from buy owners look good

Standard Contract to Purchase Real Estate

  1. I David Jimenez / As Nominee offer to purchase from Seller the following described real estate togethet with all improvements thereon and all appurtenant rights, located at _________________________________.

  2. The purchase price is to be $ ___________.

  3. The conditions of the Purchase are as follows:

a. This contract is expressly subject to and conditional upon the purchaser’s attorney’s approval to title,encumbrances,liens,easements, and any other regulatory impositions that may relate to the subject property.

b. Seller agrees to allow purchaser to show property to prospective partners and clients prior to closing.

c. Subject to review, inspection and written approval of my financial partner.

d. This contract is expressly subject to and conditional upon the purchaser arranging financing suitable to himself.

e. Purchaser shall have the right to assign his interest in this contract prior to escrow.

  1. All closing costs and attorney’s fees shall be paid by Seller.

  2. Closing date shall be on or before _______ days from the date of this agreement.

Date: ___________ Date: _________________

Seller: ___________ Purchaser: _____________

Seller: ____________ Purchaser: _____________

  • I also have an example assignment of contract but its at home ill post it up on Saturday
2

You question is best answered by a local attorney who specializes in this area or a real estate agent.

FWIW, I wouldn’t accept term 3b. The buyer can show it after he owns it. I’m the one who has to pay to clean up any mess or damage. I wouldn’t accept 3c. That is just weasel clause. Term 3e will cost you something if you want me to accept it, but it’s great if you can get a seller to agree.

Term 4 is not standard in my area, but it’s great if you can get a seller to agree.

I don’t do inspection conditions either. Buyers can do the inspection before they make the offer and include whatever concessions they want. I won’t allow them to use the inspection as a negotiating tool once they tie up the property with an accepted offer.