What points should a contract for sale of property include?

On Behalf of | Nov 3, 2020 | residential real estate | 0 comments

Perhaps you have decided to sell your home in the Naples area, and you have an interested buyer.

When it is time to draft a residential sales contract, what points should the agreement include?

Begin with basic information

Along with the names of the buyer and seller, basic information on the sales contract includes either the property address or the legal description from the current deed registered with the county recorder. The document should state the proposed purchase price of the Naples property and list any earnest money and deposits, where they will be held and when they are due.

Add pertinent details

List the items the sale will include such as appliances, as well as items the sale will not include such as property belonging to you personally. The document should specify the dates for closing and title delivery. It is also important to address any contingencies or disclosures that could affect the sale. For example, easement issues are often mentioned in a residential sales contract.

Stay on track

Keep in mind that a contract for the sale of your property in Naples is a legally binding agreement that you and the prospective buyer must sign. One final section should explain what happens if either of you fails to meet the obligations set forth in the document and what happens if a delay occurs in the date of the closing and deed delivery. You want the sale to go smoothly, and professional assistance in the drafting of the document will prevent any legal missteps from occurring.