Template/Example purchase contract for home

2 Replies

Hello All - I've reached a verbal agreement to purchase a home in Bettendorf and all the law offices I know to call (in Bettendorf, Davenport and the general Quad Cities) are closed over the weekend. Does anyone have an example or template contract they've used to purchase/sell a home for sale by owner (purchase contract)? I'd like to get something in writing and signed, at least, while we've reached an agreement and not wait until Monday.

Or if anyone knows a Davenport or Bettendorf real estate attorney they could recommend who works over the weekend... 

Appreciate any help. Thank you.

Allison

As you probably know, verbal contracts are not enforceable. 

You definitely want to strike while the iron is hot and get the deal on paper, but you probably also don't want to use some free template you find online that may not be applicable to your state or your situation.

You might consider just writing up a simple one page agreement that outlines the key points (purchase price, financing, inspection period and other contract contingencies, closing date, etc. and get it signed (and perhaps notarized for added formality?) over the weekend. 

You could add a clause to the effect of "Both parties agree these terms will be transferred to a formal contract for purchase and sale by a realtor/attorney/title agent within three business days".

@Jeff Copeland   Sorry for my delay, thanks so much for your response. I ended up getting an example agreement, got them to sign the formal contract, then I had to back out due to some major work that needed to be done that I hadn't realized at the time. Anyway, appreciate your post.  I'm new at this and learning every day.

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