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Contracts for Deed - agreement with seller that allows you to pay in installments instead of a lump sum amount.Purchase Agreement - document listing terms and conditions for sale of goods.However, there are broadly four types of real estate contracts: Real estate contracts can range from simple to very complex ones. What Are The Requirements for a Real Estate Contract to Be Enforceable?Ī real estate contract or any contract should always contain original signatures of all parties involved along with the date, as well as stamps on all pages (not just one) where both parties are supposed to sign as per the prevailing law of the state. It should have a date range wherein it is valid and expires thereafter. A real estate contract is agreeable to all parties and is a legally binding document.Ī real estate contract should be easy to read with information listed out in sections in a simple manner, along with all relevant information and should leave no scope for confusion. This implies to real estate contracts as well irrespective of the type of real estate contract involved.Ī real estate contract involves temporary or permanent ownership of land, house, commercial property, power of attorney etc. Customizable survey and description of the propertyĪ contract comes into enforcement only when it is signed by all parties named in the contract.It is a legally binding contract among the parties involved. A real estate contract allows a buyer, seller, lessor or lesse to gain access to or give away access to a home or property in a smooth and formal manner.