Massachusetts Residential Real Estate Sale Contract
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
Residential Real Estate Sale Contract for use in Massachusetts. 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 Massachusetts 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
- Massachusetts Residential Real Estate Sale Contract
- Earnest Money Receipt
- Disclosure Of Information On Lead-Based Paint Or Lead-Based Paint Hazards.
Massachusetts Residential Real Estate Sale Contract
Product Details
| Product | Massachusetts 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 | #20950 |
| 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 in Massachusetts to outline the terms of a sale between a buyer and seller of a residential property. It includes key provisions such as purchase price, contingencies, and closing details.
This contract is intended for individuals buying or selling free-standing residential homes in Massachusetts, especially in transactions that do not involve a real estate broker.
The contract specifies the consequences if contingencies are not removed, which may include the ability for the buyer to withdraw from the agreement without penalty.
Yes, once signed by both parties, the contract becomes a legally binding agreement that outlines the obligations of the buyer and seller.
While the contract can be modified, any changes should be made in writing and agreed upon by both parties to ensure enforceability.
Is This Form Right For You?
Use This Form If:
- Individuals who are looking to buy a free-standing residential home in Massachusetts will need this contract to formalize their purchase agreement with the seller. This document outlines the terms of the sale, including the purchase price and any contingencies that may apply.
- Situations requiring the sale of a residential property without the involvement of a broker can benefit from this contract. It provides a clear framework for the transaction, ensuring that both parties understand their rights and obligations.
- For those assuming an existing mortgage or obtaining a new loan, this contract is essential. It details the financial arrangements and responsibilities related to the property, helping to protect both the buyer and seller during the transaction.
- Real estate investors looking to purchase properties in Massachusetts can utilize this contract to streamline their acquisition process. The form includes necessary provisions that address inspections, title issues, and closing procedures, making it suitable for investment transactions.
- Homeowners selling their property independently can use this contract to ensure that all legal requirements are met. It serves as a comprehensive guide to the sale process, covering everything from earnest money deposits to closing obligations.
Do Not Use If:
- – This contract is not appropriate for transactions involving commercial properties, as it is specifically designed for residential real estate sales. Commercial transactions have different legal requirements and considerations.
- – If a broker is involved in the sale, it is advisable to use a contract provided by the broker or real estate agency, as they may have specific forms that comply with their policies.
- – In cases where the buyer is not obtaining a loan or assuming an existing loan, this contract may not be suitable, as it includes provisions related to financing that may not apply.
- – For properties that require extensive renovations or have significant legal issues, a more detailed contract may be necessary to address those complexities adequately.
- – If either party is not familiar with real estate transactions, it is recommended to seek legal advice before using this contract to ensure all terms are understood and appropriate.
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