How To Draw Up A Contract For The Purchase And Sale Of Real Estate

Table of contents:

How To Draw Up A Contract For The Purchase And Sale Of Real Estate
How To Draw Up A Contract For The Purchase And Sale Of Real Estate

Video: How To Draw Up A Contract For The Purchase And Sale Of Real Estate

Отличия серверных жестких дисков от десктопных
Video: How To Fill Out A Real Estate Purchase And Sale Agreement 2023, January
Anonim

When planning to buy or sell a property, pay attention to the proper drafting of the sale and purchase agreement, since the absence of essential conditions or their inaccurate indication can subsequently entail big trouble for the parties to the contract, up to the court. After drawing up the contract, it will also be necessary to register in the prescribed manner the transfer of rights to real estate, and in certain cases, the contract itself.

How to draw up a contract for the purchase and sale of real estate
How to draw up a contract for the purchase and sale of real estate

Instructions

Step 1

Remember that the essential terms of the contract for the sale of real estate are the subject of the contract and the price. The materiality of the terms means that in the absence of them or inaccurate indication, the contract will not be considered concluded. The subject of the contract is the real estate object in respect of which the transaction is being made. It is important to indicate in the contract the data that make it possible to clearly define this object. Typically, such data include the cadastral or conditional number of the object, its address, area.

Step 2

After agreeing on the essential conditions, agree with the other party on your rights and obligations, the settlement mechanism between you. Also include a clause on mandatory pre-trial settlement of disputes, if any. Make sure that at the end of the contract, both parties correctly indicate their data (for individuals, these are passport data, for legal entities - name, PSRN, TIN, KPP, address) and bank account details.

Step 3

Remember that the contract for the sale of real estate is always concluded in writing by drawing up one document. Prepare three copies of the agreement - for each of the parties and for the registration authorities.

Step 4

The transfer of real estate is carried out under a deed of transfer. This act, like the contract, must be drawn up in writing, in the form of one document. It is signed by both parties. From the moment of its signing, the property is considered transferred. Thus, in addition to the contract, you will need to draw up a deed of transfer or another similar document on the transfer of the property.

Step 5

The transfer of rights to the real estate object must be registered with the Rosreestr authorities. To do this, the parties to the agreement need to appear at the territorial (at the location of real estate) agency of Rosreestr and submit an application for registration, an agreement, a receipt for payment of state fees and other documents specified in the Federal Law "On state registration of rights to real estate and transactions with it" … In some cases (when the rights to residential properties are transferred), the contracts themselves are registered. Registration is made within 30 days.

Popular by topic