The Standard Real Estate Offer Form serves as the initial step in a property transaction within the United States. This document is typically used when a prospective buyer wishes to formalize their intent to purchase real estate. The form includes crucial details such as property identification, purchase price, payment terms, contingencies, and proposed closing date. It must comply with both federal and state-specific real estate laws and regulations. The document can be customized based on local market practices and specific transaction requirements, while maintaining its core purpose as a legally binding offer to purchase.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Property Description: Legal description and physical address of the property being offered
3. Purchase Price: Offered amount and payment terms including method of payment
4. Earnest Money: Amount and terms of good faith deposit, including where it will be held
5. Closing Date: Proposed date for completing the transaction and transfer of ownership
6. Title and Deed: Requirements for clear title and type of deed to be conveyed
7. Closing Costs: Allocation of closing costs between buyer and seller
8. Default: Consequences of default by either party and available remedies
9. Representations and Warranties: Standard representations by both parties regarding authority and property condition
1. Financing Contingency: Terms and conditions related to buyer's ability to secure mortgage financing
2. Inspection Contingency: Terms for property inspection, repair negotiations, and right to terminate
3. Sale Contingency: Conditions related to buyer needing to sell existing property
4. Appraisal Contingency: Conditions related to property appraising at or above purchase price
5. Personal Property: List of specific personal property items included or excluded from sale
1. Property Disclosure Statement: Seller's mandatory disclosure of property condition and known defects
2. Lead-Based Paint Disclosure: Federally required disclosure for properties built before 1978
3. Personal Property Inventory: Detailed list of all personal property items included in the sale
4. HOA Documents: Homeowners association rules, regulations, and financial documents
5. Property Survey: Current survey showing property boundaries and improvements
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