California Residential Real Estate Sale Contract
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
Residential Real Estate Sale Contract for use in California. Can be used when selling or buying a free-standing residential home.
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The Residential Real Estate Sale Contract form is designed for use by a buyer and a seller of a free-standing residential home. The agreement provides for the traditional terms between a seller and buyer, including purchase price, financing contingencies, surveys, pest and other inspections, title matters and more. This contract is for use in transactions that do not involve a Broker and where the Buyer is obtaining a new loan or is assuming an existing loan.
When signed by one party, this signed contract constitutes a formal offer. The contract allows the person making the offer to designate a time and date by which the contract must be signed and returned before it expires.
These are just some of the important provisions included in this California Residential Real Estate Sale Contract:
- Parties: Identifies the Seller and Buyer involved in the transaction;
- Property to be Sold: Specific property being sold, including a legal description;
- Price and Payment: The price for the property and when and how payments are to be made;
- Earnest Money and Other Deposits: How the earnest money is to be kept and handled ;
- Contingencies: Allows certain contingencies with regard to the property;
- Removal Of Contingencies: What happens if contingencies are not removed;
- Time For Acceptance And Effective Date: Time by which offer needs to be executed by both parties;
- Condition of the Property: Defines the condition of the property
- Inspection: Mechanical, Pest and other inspections ;
- Radon and Lead Paint Disclosure: Disclosure about Radon testing and Lead Paints;
- Utilities: How utilities will be handles;
- Casualty Loss: Defined who bears the risk of loss;
- Title: Transfer of title from seller to buyer;
- Existing Mortgages: Seller shall furnish to Buyer a statement from all mortgagee(s);
- Professional Survey Engineering Plans And Studies: Whether a survey shall be made and the furnishing of all plans;
- Delivery Of Deed: When and how the Deed will be transferred;
- Closing And Possession of Property: Time and manner of closing and when possession occurs;
- Restrictions, Easements, Limitations: The various easements, restrictions and limitations of the property - if any;
- Obligations at Closing: Seller's and Buyer's obligation at closing;
- Closing costs: checklist for who is responsible for which closing costs;
- Defaults And Remedies: What happens in case of defaults and the remedies thereto;
- Disputes: Sets forth how disputes may be settled
- California Real Property Disclosure:: Provides the disclosures required by Megan's Law about registered sex offenders;
- Residential Real Estate Sale Contract Instructions and Checklist
- Information about Residential Real Estate Sale Contract
- California Residential Real Estate Sale Contract
- Earnest Money Receipt
- Disclosure Of Information On Lead-Based Paint Or Lead-Based Paint Hazards.
California Residential Real Estate Sale Contract
Product Details
| Product | California Residential Real Estate Sale Contract |
| Country | United States |
| Pages | 24 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | New Loan or Loan Assumption Real Estate Sale Contract |
| Product number | #18468 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
This contract is a legal document used to outline the terms of sale between a buyer and seller of a residential property in California, ensuring that both parties are aware of their rights and obligations.
You should use this contract when buying or selling a free-standing residential home in California, especially in transactions that do not involve a broker.
Contingencies are conditions that must be met for the sale to proceed, such as financing approval or satisfactory property inspections. This contract allows for specific contingencies to protect both parties.
The contract specifies how earnest money is to be kept and handled, ensuring that both the buyer and seller understand the implications of the deposit in the transaction.
The contract outlines the remedies available to the non-defaulting party, which may include retaining earnest money or pursuing legal action to enforce the agreement.
Is This Form Right For You?
Use This Form If:
- Individuals who are looking to buy a free-standing residential home in California will need this contract to formalize their purchase agreement with the seller. This legally binding document outlines the terms of the sale, ensuring both parties understand their rights and obligations.
- Situations requiring the sale of a residential property without the involvement of a broker can utilize this contract. It provides a structured framework for the transaction, detailing aspects such as financing options and contingencies that may affect the sale.
- For those assuming an existing mortgage or obtaining a new loan, this contract is essential. It includes provisions that address how the loan will be handled, ensuring that both the buyer and seller are clear on financial responsibilities.
- Real estate investors looking to purchase properties in California can benefit from this contract as it provides a comprehensive outline of the transaction. It helps in managing risks associated with property inspections and disclosures, which are critical in investment decisions.
- Homeowners planning to sell their property directly to a buyer will find this contract useful. It serves to protect their interests by clearly defining terms such as earnest money and closing procedures, which can help prevent disputes.
Do Not Use If:
- – This form is not appropriate for transactions involving commercial properties, as it is specifically designed for residential real estate sales. Different regulations and requirements apply to commercial transactions.
- – If the sale involves a real estate broker, this contract may not be suitable, as broker agreements typically have their own standardized forms that include additional provisions and disclosures.
- – In cases where the buyer is purchasing the property without any financing, this contract may not be necessary, as simpler agreements may suffice for cash transactions.
- – If the property being sold is part of a foreclosure or short sale, specialized forms and disclosures are required to comply with specific legal requirements, making this contract unsuitable.
- – For transactions that require complex legal arrangements, such as partnerships or trusts, this form may not provide the necessary provisions and should be replaced with a more tailored legal document.
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