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California Real Estate Purchase Agreement

This Real Estate Purchase Agreement (“Agreement”) is made on this ____ day of ___________, 20__ by and between:

Seller: ___________________________
Address: ___________________________
Phone: ___________________________
Email: ___________________________

Buyer: ___________________________
Address: ___________________________
Phone: ___________________________
Email: ___________________________

This Agreement is intended to comply with the laws of the State of California.

Property Description:

The property subject to this Agreement is located at:

___________________________, California, ZIP: ___________.

Purchase Price:

The total purchase price of the Property shall be: $___________.

Deposit:

A deposit of $___________ shall be paid by the Buyer within ____ days following the execution of this Agreement.

Financing:

This Agreement is contingent upon the Buyer obtaining financing. The Buyer agrees to apply for financing within ____ days of signing this Agreement.

Closing Date:

The closing of the purchase and sale of the Property shall occur on or before the ____ day of ___________, 20__.

Contingencies:

  • Inspection contingency
  • Financing contingency
  • Appraisal contingency

Disclosures: The Seller agrees to provide the Buyer with all necessary disclosures as required by California law.

Governing Law: This Agreement shall be governed by the laws of the State of California.

Additional Terms:

__________________________________________________________________
__________________________________________________________________
__________________________________________________________________

Signatures:

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first above written.

___________________________
Seller’s Signature

___________________________
Buyer’s Signature

Common mistakes

Completing the California Real Estate Purchase Agreement form can be a daunting task. Many individuals make common mistakes that can lead to complications down the road. One frequent error is failing to include all necessary parties in the agreement. If a spouse or co-owner is not listed, it may cause legal issues later on.

Another mistake often seen is neglecting to clearly define the property being purchased. This includes not providing the full address or legal description. Without this information, the agreement may be deemed invalid, leading to confusion and disputes.

Many buyers overlook the importance of specifying the purchase price. While it may seem obvious, failing to write this figure clearly can create misunderstandings. Additionally, if the price is not explicitly stated, it may be difficult to enforce the agreement.

Buyers sometimes forget to include contingencies. These are conditions that must be met for the sale to proceed, such as financing or inspections. Omitting these can leave buyers vulnerable to unforeseen issues that could derail the transaction.

Another common error involves neglecting to initial or sign all required sections. Each party must acknowledge their agreement to various terms. If signatures are missing, it could lead to disputes over the validity of the contract.

People also tend to misinterpret the timeline for closing. Not specifying the closing date can create uncertainty and lead to frustration for all parties involved. Clear timelines help ensure that everyone is on the same page.

Buyers may also fail to review the entire document thoroughly. Skimming through can result in missing crucial details or terms that could affect the purchase. Taking the time to read the agreement in full is essential for a smooth transaction.

Finally, some individuals do not seek legal advice or assistance when filling out the form. While it may seem straightforward, real estate transactions can be complex. Consulting a professional can help avoid pitfalls and ensure that all aspects of the agreement are correctly addressed.

Dos and Don'ts

When filling out the California Real Estate Purchase Agreement form, attention to detail is crucial. Here are six important dos and don'ts to keep in mind:

  • Do read the entire agreement carefully before filling it out.
  • Do provide accurate information about the property, including the address and legal description.
  • Do clearly state the purchase price and any contingencies.
  • Do ensure all parties involved sign the agreement.
  • Don't leave any blank spaces; fill in all required fields.
  • Don't use vague language; be specific about terms and conditions.
⇓ PDF

Other Real Estate Purchase Agreement State Forms

Illinois Real Estate Contract - Defines the time frame for contingencies to be satisfied.

Real Estate Sales Agreement Pa - A Real Estate Purchase Agreement is essential for dispute resolution during a sale.

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Free Florida Purchase and Sale Agreement - Clarifies how communication regarding the transaction will be handled.

Similar forms

  • Lease Agreement: This document outlines the terms under which one party agrees to rent property from another. Like a Real Estate Purchase Agreement, it details the parties involved, property description, payment terms, and duration of the agreement.
  • Option to Purchase Agreement: This agreement gives a buyer the right, but not the obligation, to purchase property within a specified time frame. Similar to a Real Estate Purchase Agreement, it includes terms regarding price, property details, and conditions for exercising the option.
  • Real Estate Listing Agreement: This document establishes the relationship between a property owner and a real estate agent. It shares similarities with a Real Estate Purchase Agreement in that it specifies the property, outlines terms of sale, and includes commissions and fees.
  • Seller Disclosure Statement: This document provides potential buyers with crucial information about the property’s condition. Like the Real Estate Purchase Agreement, it aims to protect both parties by ensuring transparency regarding property issues and obligations.

  • Marriage Certificate: The Marriage Certificate is crucial for establishing the legal union between partners and is often needed for various legal and financial processes. For more information, check TopTemplates.info.

  • Closing Disclosure: This form is provided to buyers and sellers before closing a real estate transaction. It details the final terms of the agreement, including costs and fees, much like the Real Estate Purchase Agreement, which also summarizes the terms of the sale.