real estate purchase agreement wv

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CONTRACT FOR THE SALE AND PURCHASE OF REAL ESTATE NO BROKER For good and valuable consideration the receipt and sufficiency of which is hereby acknowledged Seller whether one or more and Buyer whether one or more do hereby covenant contract and agree as follows AGREEMENT TO SALE AND PURCHASE Seller agrees to sell and Buyer agrees to buy from Seller the property described as follows complete adequately to identify property County West Virginia. Address Legal Description or see attached...
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Comments and Help with real estate purchse agreement for west virgibia

Who needs the Sale and purchase contract of real estate?

This document is filled out when individuals want to buy or sell real estate without brokers. The contract is used in the state of West Virginia.  

What is the Sale and purchase contract of real estate for?

The contract provides detailed information about the seller and buyer of real estate; the description of the real estate; the purchase price and the earnest money of the contract; the type of financing; property conditions, etc. The contract is very detailed, as it is signed without a broker’s services. This document has legal force and is very useful in case any disputes between the parties arise.

What documents must accompany the contract?

The contract is usually accompanied by other documents including an insurance policy, inspection forms, financing plan, etc. The parties agree on the required documentation before signing the contract.

When is the contract due?

The due date of the agreement is stipulated in the text.

What information should be provided in the contract?

While filling out the agreement, the parties have to complete the following sections:

  • Agreement to sale and purchase

  • Sales price

  • Financing

  • Earnest money

  • Property condition

  • Closing date of the sale

  • Information about the title and conveyance

  • Appraisal, survive and termite inspection

  • Possession and title

  • Closing cost and expenses

  • Prorations

  • Casualty loss

  • Default

  • Attorney fees

  • Representations

  • Federal tax requirements

  • Notices to the buyer and to the seller

  • Eminent domain

  • Other provisions

  • Deadline list

  • Descriptions of any kind

  • Acknowledgement of earnest money receipt

The contract must be signed by the buyer and by the seller and each page of this contract should contain the initials of the both parties.

What do I do with the contract after its completion?

The completed and signed contract is kept by both the buyer and the seller as well for personal record. The contract is signed in two copies, one for each party.

Video instructions and help with filling out and completing real estate purchase agreement wv
Instructions and Help about real estate contract form
This is Sharon born Holt and I wanted to take just a couple of minutes today and talk about the sales and purchase agreement I get so many questions about filling out one of these contracts and it's really very simple what I have here is the actual agreement that I use in my business it was drafted by my closing attorney and it is the one that he uses when he buys an investment property it is drop-dead simple to use it is a one-page very simple contract and in Kentucky you any well anyone can use this sort of a form now if you are a licensed real estate agent then you are probably going to have to use board of realtor forms and we also have an investor form here for that but I'm going to go through this quickly I have a little disclaimer that I'm in the state of Kentucky so be sure to check with your attorney or your closing people and be sure that this form is okay to use in your state so the first thing that we do is to of course fill in the date you want to have the date that you are signing the contract of filling out the contract put that date up there and then this next part says that they give the described property and they will list the deed book in the page now you don't have to fill that out your closing company can fill that out I usually go ahead and put it in here for the a to be closing it's listed on our PVA or tax assessor site so I will put that in there now you wouldn't put that in there if you're double closing for the BTC closing because you won't know what that is until the a to be closing is actually recorded so until you get used to doing this I would just leave that blank because they're going to check that anyway so then next I put my accounting which is Jefferson County in the state of Kentucky you would need to fill in that blank and these are things that I have plugged into my form so they say stay there and I've highlighted them just so that's a little bit easier for you to read now I always buy property in a Land Trust and I always buy it in the the address of the property so in this instance I have put 1 2 3 Main Street Land Trust Louisville Kentucky 402 4 1 the reason I do that is because if you start naming your land trusts something like the blue dollar Land Trust and the the red farmland trust and all of that you will never be able to figure out down the road if you need to get your hands on these contracts or these pieces of paper what the heck they are so it's just easy to name them in this manner you really don't want to be buying property in your personal name anyway for liability reasons so the next thing is how much am I paying the sum of and I just put $50,000 in here for adjust the amount so you want to spell it out and you want to have numbers for clarification this stays in my contract how am I going to pay them for the property all cash your closing you put this in if it doesn't matter if you're getting money from a private lender if you're using a duster friendly bank you're using your IRA doesn't...