District of Columbia Residential Real Estate Sale Contract
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
Residential Real Estate Sale Contract for use in District of Columbia. 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 District of Columbia 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
- Residential Real Estate Sale Contract Instructions and Checklist
- Information about Residential Real Estate Sale Contract
- District of Columbia Residential Real Estate Sale Contract
- Earnest Money Receipt
- Disclosure Of Information On Lead-Based Paint Or Lead-Based Paint Hazards.
District of Columbia Residential Real Estate Sale Contract
Product Details
| Product | District of Columbia Residential Real Estate Sale Contract |
| Country | United States |
| Pages | 23 |
| 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 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 | #20937 |
| 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
A Residential Real Estate Sale Contract is a legally binding document that outlines the terms and conditions of a sale between a buyer and seller of a residential property. It includes details such as purchase price, payment methods, contingencies, and obligations of both parties.
This contract should be used when buying or selling a free-standing residential home in the District of Columbia, especially in transactions that do not involve a broker. It formalizes the agreement and protects the interests of both parties.
Contingencies are conditions that must be met for the sale to proceed. This contract allows for various contingencies, such as financing, inspections, and repairs, ensuring that buyers have the opportunity to back out if certain conditions are not satisfied.
The contract specifies how earnest money is to be kept and handled, typically requiring the buyer to submit a deposit that shows their commitment to the purchase. This money is usually applied to the purchase price at closing.
The contract outlines the remedies available in case of a default by either party. This may include the forfeiture of earnest money or legal action to enforce the terms of the contract.
Yes, this form is designed to comply with the laws of the District of Columbia, ensuring that all necessary legal requirements are met for residential real estate transactions.
Yes, the contract can be modified as long as both parties agree to the changes. Any modifications should be documented in writing and signed by both the buyer and seller to ensure enforceability.
The contract includes disclosures regarding lead-based paint and radon hazards, ensuring that buyers are informed of any potential risks associated with the property.
Is This Form Right For You?
Use This Form If:
- Individuals who are looking to buy a free-standing residential home in the District of Columbia will find this contract essential for outlining the terms of the sale. It ensures that both parties are on the same page regarding price, contingencies, and property condition.
- Situations requiring a formal agreement between a seller and buyer can benefit from this contract, especially when no broker is involved. This document provides a clear framework for the transaction, protecting the interests of both parties.
- To comply with local laws, buyers and sellers must use a written contract when engaging in real estate transactions. This form is specifically tailored for the District of Columbia, ensuring adherence to state regulations.
- For those assuming an existing loan or obtaining a new loan, this contract outlines the necessary terms and conditions. It addresses financing contingencies and ensures that all parties are aware of their obligations.
- Real estate investors looking to purchase residential properties will need this contract to formalize their transactions. It includes critical provisions that protect their investment and clarify the terms of the sale.
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